Teck Resources Ltd (NYSE:TECK) Declares C$0.13 Quarterly Dividend

Key Points

• Teck Resources declared a quarterly dividend of C$0.125 per share, payable June 30 to shareholders of record on June 15, with a reported annualized yield of about 0.8%.
• In the most recent quarter Teck reported $0.98 EPS, beating estimates by $0.39, while revenue rose 9.8% year-over-year to $2.23 billion.
• The dividend is conservatively covered, with a payout ratio around 19.9% and analysts forecasting earnings that should sustain the roughly $0.36 annual dividend going forward.

Teck Resources Ltd (NYSE:TECK - Get Free Report) TSE: TECK declared a quarterly dividend on Thursday, April 23rd. Shareholders of record on Monday, June 15th will be paid a dividend of 0.125 per share by the basic materials company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 15th.

Teck Resources has raised its dividend payment by an average of 0.2%annually over the last three years. Teck Resources has a dividend payout ratio of 19.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Teck Resources to earn $2.63 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 13.7%.

Teck Resources Price Performance

Shares of TECK stock opened at $60.05 on Friday. Teck Resources has a 1 year low of $30.98 and a 1 year high of $63.26. The company has a current ratio of 2.54, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average is $54.56 and its 200-day moving average is $49.38. The firm has a market capitalization of $28.94 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 3.11 and a beta of 0.85.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.39. Teck Resources had a net margin of 12.98% and a return on equity of 5.90%. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter in the previous year, the company posted $0.45 EPS. Teck Resources's revenue was up 9.8% on a year-over-year basis. Sell-side analysts forecast that Teck Resources will post 2.59 EPS for the current fiscal year.

Institutional Trading of Teck Resources

Large investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new stake in Teck Resources during the 4th quarter worth $25,000. Versant Capital Management Inc bought a new stake in shares of Teck Resources in the third quarter worth about $26,000. Blue Trust Inc. increased its holdings in shares of Teck Resources by 411.8% in the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company's stock worth $29,000 after acquiring an additional 453 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Teck Resources by 72.4% during the third quarter. Smartleaf Asset Management LLC now owns 836 shares of the basic materials company's stock worth $37,000 after purchasing an additional 351 shares during the period. Finally, SouthState Bank Corp bought a new position in shares of Teck Resources during the 3rd quarter valued at about $50,000. Institutional investors own 78.06% of the company's stock.

About Teck Resources

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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