Teck Resources Limited (NYSE:TECK) Announces Quarterly Dividend of $0.09

Teck Resources Limited (NYSE:TECKGet Free Report) (TSE:TECK) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors of record on Monday, June 17th will be paid a dividend of 0.0911 per share by the basic materials company on Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.76%. The ex-dividend date is Monday, June 17th.

Teck Resources has increased its dividend by an average of 35.7% per year over the last three years. Teck Resources has a dividend payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Teck Resources to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 16.4%.

Teck Resources Stock Performance

Shares of TECK stock opened at $47.76 on Friday. Teck Resources has a one year low of $34.38 and a one year high of $55.13. The company’s 50-day moving average is $49.74 and its 200 day moving average is $43.74. The company has a market capitalization of $24.43 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 10.44 and a beta of 1.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.49.

Teck Resources (NYSE:TECKGet Free Report) (TSE:TECK) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.31). Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Sell-side analysts expect that Teck Resources will post 2.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on TECK shares. JPMorgan Chase & Co. increased their price objective on shares of Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Benchmark upped their target price on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Morgan Stanley restated an “overweight” rating and set a $55.00 target price on shares of Teck Resources in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Teck Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

Check Out Our Latest Stock Report on TECK

Teck Resources Company Profile

(Get Free Report)

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.

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Dividend History for Teck Resources (NYSE:TECK)

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