Teck Resources Limited (NYSE:TECK) to Issue Quarterly Dividend of $0.09

Teck Resources Limited (NYSE:TECK) (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 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, June 17th.

Teck Resources has increased its dividend payment by an average of 34.8% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Teck Resources has a payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Teck Resources stock opened at $51.07 on Tuesday. 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 has a 52 week low of $34.38 and a 52 week high of $51.65. The firm’s 50 day moving average is $44.19 and its two-hundred day moving average is $40.48. The firm has a market capitalization of $26.07 billion, a P/E ratio of 22.60, a P/E/G ratio of 8.48 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.01. Teck Resources had a net margin of 10.59% and a return on equity of 7.52%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Research analysts forecast that Teck Resources will post 2.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TECK has been the topic of several research analyst reports. UBS Group initiated coverage on Teck Resources in a research report on Tuesday, January 16th. They set a “buy” rating on the stock. Benchmark upped their price target on shares of Teck Resources from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price target on shares of Teck Resources from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Morgan Stanley restated an “overweight” rating and issued a $55.00 price objective on shares of Teck Resources in a research note on Thursday, April 11th. Two equities 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.com, Teck Resources currently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Teck Resources Company Profile

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.