Minerals Technologies Raises Dividend 8% to $0.13 a Share
Key Facts
Minerals Technologies' board approved an 8% increase in the quarterly cash dividend to $0.13 a share, according to the company's announcement on October 21, 2026. The new dividend compares with the $0.12 a share the company announced in July 2026 as part of its quarterly cash distributions to shareholders. The company said dividends were part of its capital allocation policy, which it described as a "balanced approach to deploying capital." The policy includes investment in the company's businesses alongside share buybacks, according to the board's statement announcing the increase. It also includes maintaining a strong balance sheet, an objective the company cited within the policy that combines funding investment and returning capital to shareholders.
In its results for the second quarter of 2026, Minerals Technologies reported worldwide net sales of $548 million, up 4% from the same period a year earlier. Management said in its presentation of the period's results that rising inflationary costs temporarily weighed on the company's margins, particularly in the Consumer & Specialties segment. It said its pricing actions were aimed at restoring margins during the second half of the year after they were hit by higher costs. For the previous year, the company's worldwide sales totaled $2.1 billion in 2025, according to figures cited in its July dividend statement. The company employs 4,000 people across 34 countries, according to the same statement, which outlined the scale of its business and workforce footprint.
On earnings, the company reported an accounting loss of $5.90 a share in the second quarter of 2026, according to its financial results announcement for the period. By comparison, earnings per share excluding special items were $1.60, according to the measure the company presented alongside its reported accounting result. Special items included a $290 million charge to increase the provision related to talc claims and associated legal and financing proceedings. The increase in the provision included funding a talc claims settlement trust, according to details in the results announcement explaining the reasons for the quarterly charge. It also included funding subsidiary bankruptcy proceedings and related litigation expenses, among the special items excluded in calculating the adjusted earnings per share the company reported.
On financing, Minerals Technologies announced in October 2026 the pricing of a private offering of notes with an aggregate principal amount of $400 million, according to the offering's pricing statement. The new notes carry an interest rate of 7.500% and mature in 2032, according to the financing terms announced by the company. The company said it intended to use the proceeds, together with cash on hand, to redeem all outstanding notes targeted under its use-of-proceeds plan. The notes it intends to redeem carry an interest rate of 5.000% and mature in 2028, compared with the maturity announced for the new issue under the financing plan. The company's stated uses also include paying financing fees associated with the transaction, alongside redeeming the outstanding notes using the proceeds and cash on hand.
On growth projects, Minerals Technologies said it had developed a process to produce high-purity calcium metal, among the initiatives outlined in a statement on its long-term targets. The process is intended to support the U.S. supply chain for heavy rare earth elements, according to the company's description of the application it is developing. The company estimates the high-purity calcium opportunity could generate more than $100 million in incremental revenue over the coming years. In another area, the company outlined its technology for reusing steel slag among the opportunities covered in its statement on growth and long-term targets. It estimated in September 2026 that the potential U.S. market for this technology exceeded $250 million, an estimate of the market's size within the United States.
The company plans to announce its results for the third quarter of 2026 on October 29, 2026, according to its statement on the timing of its next financial results release. It scheduled publication after the market closes that day, with the announcement to be followed by a call with management to discuss financial performance. The earnings call is scheduled for October 30 at 11 a.m. U.S. Eastern time, according to the company's announced timetable. Following the results announcement and call, shareholders eligible for the new cash dividend will be determined at the close of business on November 5, 2026, under the announced dividend terms. The company set December 3, 2026 as the payment date for shareholders of record on that date, according to the board's statement on the dividend increase.