Businessweek

PPG Industries Inc. shareholders ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for 2013.

PPG Industries approved a 2 cents per-share increase in the company's dividend, declaring a regular quarterly dividend of 61 cents per share, payable June 12 to shareholders of record May 10. PPG's prior quarterly dividend was 59 cents per share.

At the annual meeting, PPG Industries Inc. elected four incumbent directors: James G. Berges, partner, Clayton, Dubilier & Rice, LLC; John V. Faraci, chairman and CEO, International Paper Co.; Victoria F. Haynes, retired president and CEO, RTI International; and Martin H. Richenhagen, chairman, president and CEO, AGCO Corp.

PPG Industries Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $3,331 million compared to net sales of $3,333 million for the same period a year ago. Income before income taxes was $318 million compared to loss before income taxes of $47 million last year. Income from continuing operations, net of income taxes was $254 million compared to loss from continuing operations, net of income taxes of $16 million last year. Net income attributable to the company was $2,410 million or $16.31 per diluted share compared to $13 million or $0.08 per diluted share last year. Net income attributable to the company from income from continuing operations, net of tax was $219 million or $1.48 per diluted share compared to net loss attributable to the company from loss from continuing operations, net of tax of $50 million or $0.32 per diluted share last year. Adjusted excluding nonrecurring charges from continuing operations was $235 million or $1.58 per share compared to $216 million or $1.41 per share last year. Total adjusted excluding nonrecurring charges was $2,426 million or $16.41 per share compared to $279 million or $1.81 per share last year.

PPG Industries Inc. (NYSE:PPG) is seeking acquisitions. Charles E. Bunch, Chief Executive Officer of PPG Industries, said that it will continue to look for prudent acquisitions this year to accelerate profitable growth in those businesses.