Minerals Technologies Inc. announced a 10% increase in its regular quarterly cash dividend, raising it to $0.11 per share. This decision reflects the company's sustained cash flow generation and its commitment to providing consistent returns to its shareholders.
Concurrently, the company's Board of Directors authorized a new share repurchase program totaling $200 million. This program provides flexibility to reduce the outstanding share count, potentially enhancing shareholder value over time.
These capital allocation moves underscore management's confidence in Minerals Technologies' financial strength and future prospects. The increased dividend and share repurchase program are part of a balanced strategy to deploy capital effectively.
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