Teck Resources Ltd (NYSE:TECK) Shares Set to Pay Quarterly Dividend of C$0.12

Key Points

• Teck Resources declared a quarterly dividend of C$0.12 per share, payable December 31 to shareholders of record on December 15. The payment represents an annualized dividend of C$0.50 and a 0.8% yield.
• The dividend appears well covered, with a 19.9% payout ratio and analysts expecting a future payout ratio of 10.6% based on projected earnings.
• Teck Resources shares opened at $61.28 and were trading down 2.8%, while the company continues to focus on copper and zinc mining operations in Canada, Chile and Alaska.

Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Tuesday, December 15th will be paid a dividend of C$0.12 per share by the basic materials company on Thursday, December 31st. This represents a $0.50 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 15th.

Teck Resources has increased its dividend by an average of 0.2% per year over the last three years. Teck Resources has a dividend payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Teck Resources to earn $3.41 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 10.6%.

Teck Resources Trading Down 2.8%

Teck Resources stock opened at $61.28 on Friday. The company has a market cap of $29.61 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 2.01 and a beta of 1.01. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 2.33. Teck Resources has a one year low of $38.00 and a one year high of $72.56. The firm has a 50-day moving average of $66.27 and a 200-day moving average of $60.39.

About Teck Resources

Teck Resources Limited is a Canadian mining and mineral development company focused primarily on copper and zinc, commodities used in electrification, infrastructure, manufacturing and other industrial applications. The company explores for, develops and operates mines, mineral processing facilities and related infrastructure.

Teck's copper assets include Highland Valley Copper in British Columbia, Canada; Carmen de Andacollo in Chile; and Quebrada Blanca in northern Chile. Its zinc operations include the Red Dog mine in Alaska and the Trail Operations metallurgical complex in British Columbia, which produces refined metals, alloys and other related products.

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