Teck Resources Limited (TECK) to Issue Quarterly Dividend of $0.09 on March 31st

Teck Resources Limited (NYSE:TECK) (TSE:TECK) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.0879 per share by the basic materials company on Monday, March 31st. This represents a $0.35 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, March 14th.

Teck Resources has raised its dividend by an average of 35.7% per year over the last three years. Teck Resources has a payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Teck Resources to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 19.2%.

Teck Resources Trading Up 3.0 %

Shares of Teck Resources stock opened at $38.50 on Wednesday. Teck Resources has a twelve month low of $36.54 and a twelve month high of $55.13. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $41.70 and a 200-day moving average price of $45.09. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of 69.99 and a beta of 0.93.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Teck Resources had a return on equity of 4.59% and a net margin of 2.96%. Equities research analysts anticipate that Teck Resources will post 1.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TECK shares. National Bank Financial cut shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. Raymond James reduced their price objective on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Bank of America boosted their target price on shares of Teck Resources from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.22.

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.