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

Teck Resources Limited (NYSE:TECK - Get Free Report) TSE: TECK announced a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Monday, June 17th.

Teck Resources has raised its dividend by an average of 34.8% per year over the last three years and has raised its dividend every year for the last 1 years. Teck Resources has a payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Teck Resources to earn $2.49 per share next year, which means the company should continue to be able to cover its $0.37 annual dividend with an expected future payout ratio of 14.9%.

Teck Resources Stock Performance

Shares of NYSE TECK traded up $0.69 during midday trading on Monday, reaching $51.07. 4,139,685 shares of the stock were exchanged, compared to its average volume of 4,094,332. The firm has a market cap of $26.07 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 8.48 and a beta of 1.15. Teck Resources has a twelve month low of $34.38 and a twelve month high of $51.65. The firm has a 50-day simple moving average of $44.19 and a two-hundred day simple moving average of $40.48. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 0.20.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.01. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. As a group, analysts anticipate that Teck Resources will post 2.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Teck Resources from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, April 17th. UBS Group assumed coverage on Teck Resources in a report on Tuesday, January 16th. They issued a "buy" rating on the stock. Benchmark raised their price objective on Teck Resources from $50.00 to $52.00 and gave the company a "buy" rating in a report on Monday, April 8th. Finally, Morgan Stanley restated an "overweight" rating and issued a $55.00 price objective on shares of Teck Resources in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Teck Resources has an average rating of "Moderate Buy" and a consensus price target of $57.86.

About Teck Resources

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.