Minerals Technologies Inc 8-K, filed Oct 26, 2020
Minerals Technologies Inc (MTX)
8-K
2020-10-26
For: 2020-10-21
View Original
Added on
April 08, 2026
About this 8-K
Minerals Technologies Inc filed this 8-K on October 26, 2020, reporting on events of October 21, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 OR 15(d) of The Securities Exchange Act of 1934
Pursuant To Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions.
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c)) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company [
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
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Item 8.01 Other Events
On October 21, 2020, the Company’s Board of Directors declared a regular quarterly dividend of $0.05 per share on the Company's common stock. The dividend
is payable on December 10, 2020 to stockholders of record on November 2, 2020. A copy of the press release announcing the dividend declaration is attached hereto as Exhibit 99.1 and incorporated by reference herein.
On October 26, 2020, the Company issued a press release announcing that its Board of Directors has authorized a new, one-year $75 million share repurchase
program. This authorization is effective immediately. This repurchase program replaces the previous program authorized by the Board of Directors that expired on October 23, 2020. A copy of the press release announcing the share repurchase program
is attached hereto as Exhibit 99.2 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
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(d)
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Exhibits
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99.1
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99.2
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104
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Cover Page Interactive Data File (formatted as inline XBRL
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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MINERALS TECHNOLOGIES INC.
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(Registrant)
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By:
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/s/ Thomas J. Meek
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Name:
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Thomas J. Meek
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Title:
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Senior Vice President, General Counsel, Secretary and Chief Compliance Officer
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Date: October 26, 2020
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| Exhibit 99.1 |
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News Release
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Investor Contact:
Erik Aldag, (212) 878-1831
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Media Contact:
Michael Landau, (212) 878-1840
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Minerals Technologies Declares Quarterly Dividend
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NEW YORK, October 21, 2020 – Minerals Technologies Inc. (NYSE: MTX) today declared a regular quarterly
dividend of $0.05 per share on the Company’s common stock. The dividend is payable on December 10, 2020 to stockholders of record on November 2, 2020.
About Minerals Technologies Inc.
New York-based Minerals Technologies Inc. (MTI) is a global resource- and technology-based company that develops, produces and markets a broad range of
specialty mineral, mineral-based and synthetic mineral products and related systems and services. MTI serves the paper, foundry, steel, construction, environmental, energy, polymer and consumer products industries. The company reported sales of $1.8
billion in 2019. For further information, please visit our website at www.mineralstech.com. (MTI-D)
| Exhibit 99.2 |
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News Release
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Investor Contact:
Erik Aldag, (212) 878-1831
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Media Contact:
Michael Landau, (212) 878-1840
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Minerals Technologies Announces New $75 Million Share Repurchase Program
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NEW YORK, October 26, 2020 – Minerals Technologies Inc. (NYSE: MTX) (“MTI” or “the Company”) today announced
that its Board of Directors has authorized a new, one-year $75 million share repurchase program, effective immediately. This program replaces the previous share repurchase program authorized by the Board of Directors that expired on October 23, 2020.
Under the previous one-year program, MTI repurchased shares amounting to approximately $50 million.
“The authorization for a new share repurchase program demonstrates the Board of Directors’ confidence in our business model and continued strong cash flow
generation,” said Douglas T. Dietrich, Chief Executive Officer. “Our balanced approach to capital deployment, supported by a solid balance sheet, gives MTI the flexibility to return capital to shareholders while also investing in our strategic growth
initiatives.”
Under the new share repurchase program, shares may be repurchased from time to time in the open market or in private transactions at the Company’s discretion,
subject to market conditions and other factors, and in accordance with applicable regulatory requirements.
About Minerals Technologies Inc.
New York-based Minerals Technologies Inc. (MTI) is a global resource- and technology-based company that develops, produces and markets a broad range of
specialty mineral, mineral-based and synthetic mineral products and related systems and services. MTI serves the paper, foundry, steel, construction, environmental, energy, polymer and consumer products industries. The company reported sales of $1.8
billion in 2019. For further information, please visit our website at www.mineralstech.com. (MTI-G)