Minerals Technologies Inc. declared a regular quarterly dividend of $0.05 per share on the company's common stock. The dividend is payable on June 12, 2013 to stockholders of record on May 29, 2013.

Minerals Technologies Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. The company reported net income of $18.8 million, or $0.53 per share for the first quarter 2013, compared with $18.0 million, or $0.51 per share in the first quarter of 2012, a 4% increase. Net sales were $251,289,000 against $257,138,000 a year ago. Income from operations was $27,136,000 against $26,992,000 a year ago. Income from operations before tax was $27,304,000 against $26,394,000 a year ago. Cash flow from operations was $24.7 million against $24.7 million a year ago. Capital expenditures were $8.7 million against $9.4 million a year ago. Free cash flow was $16.0 million against $15.3 million a year ago. First quarter earnings of $0.53 per share were above its expectations, primarily due to a record performance in its Specialty Minerals segment. Looking to the second quarter, the company expects profits to increase in the Specialty Minerals segment, driven by the seasonal improvement in Performance Minerals. In Refractories, however, it expect second quarter profits to be similar to the first quarter, as it does not currently see any upward movement in steel production levels in both North America and Europe nor do it sees any improvement in equipment sales. In addition, it will not see the same below the line benefit from taxes and foreign exchange in the second quarter. But overall, it expects around 7% to 10% sequential earnings growth for the full company. The company expects capital spending to increase throughout the year as it begin construction of 2 new satellite facilities in China with Sun Paper and Jianghe Paper and also begin the expansion of 4 PCC satellites here in the U.S. and 2 in Brazil.

Minerals Technologies Inc., Q1 2013 Earnings Call, Apr 26, 2013