Teck Resources Ltd (NYSE:TECK) Announces Quarterly Dividend of C$0.12

Key Points

• Teck Resources announced a quarterly dividend of C$0.125 per share, payable on September 29 to shareholders of record as of September 15.
• The dividend implies an annualized payout of C$0.36 per share and a 0.8% yield; the company’s payout ratio is about 19.9%, suggesting the dividend is well covered by earnings.
• Recent updates were broadly positive, with Teck reporting a Q2 earnings beat and benefiting from higher copper production and record copper prices, which helped lift profit.

Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.125 per share by the basic materials company on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th.

Teck Resources has increased its dividend by an average of 0.2%annually over the last three years. Teck Resources has a dividend payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Teck Resources to earn $2.87 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 12.5%.

Teck Resources Price Performance

Shares of Teck Resources stock traded up $0.68 on Friday, hitting $60.52. 1,753,884 shares of the company traded hands, compared to its average volume of 3,813,313. The stock has a market capitalization of $29.23 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.16 and a current ratio of 2.83. Teck Resources has a 52 week low of $30.98 and a 52 week high of $71.25. The business has a 50-day simple moving average of $61.48 and a 200 day simple moving average of $57.47.

Key Stories Impacting Teck Resources

Here are the key news stories impacting Teck Resources this week:

• Positive Sentiment: Teck posted a major Q2 earnings beat, with profit and revenue both ahead of estimates and sharply above year-ago levels, helped by stronger copper and zinc pricing and better operating performance. Teck Resources Q2 Earnings Beat Estimates, Sales & Margins Improve Y/Y
• Positive Sentiment: The company said higher copper production and record copper prices lifted second-quarter profit, reinforcing the market’s view that Teck is benefiting from the copper upcycle. Teck earns $854M Q2 profit, reports copper production up and higher commodity prices
• Positive Sentiment: Teck announced a quarterly dividend, which can be viewed as a sign of financial strength and shareholder returns. Teck Announces Dividend
• Neutral Sentiment: Teck’s Red Dog zinc output fell 18% in the quarter, but the company is advancing a mine-life extension study and maintained full-year zinc guidance, so the update is not clearly negative for the stock. Teck’s Red Dog Q2 Zinc Output Falls 18% as Mine-Life Extension PFS Advances

Teck Resources Company Profile

Teck Resources Ltd. is a diversified natural resource company headquartered in Canada that explores for, develops and produces a portfolio of metallic and energy commodities. Its core businesses center on copper, steelmaking (metallurgical) coal and zinc, with related smelting and refining activities. Teck supplies raw materials and intermediate products to global steelmakers, metals markets and industrial customers, and operates integrated mining and processing facilities as well as earlier-stage exploration and development projects.

The company's operations and projects are located across multiple geographies, with a significant presence in western Canada and North America and additional exploration and development activities in Latin America.

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