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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Shareholders of record on Monday, June 17th will be given 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 yield of 0.71%. The ex-dividend date is Monday, June 17th.

Teck Resources has raised its dividend by an average of 34.8% annually over the last three years and has raised its dividend every year for the last 1 years. Teck Resources has a dividend payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.4 %

Shares of NYSE:TECK traded up $0.69 during midday trading on Monday, hitting $51.07. The company had a trading volume of 4,064,089 shares, compared to its average volume of 4,093,308. Teck Resources has a 12 month low of $34.38 and a 12 month high of $51.65. The firm has a fifty day simple moving average of $43.94 and a 200 day simple moving average of $40.39. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The stock has a market cap of $26.07 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 8.48 and a beta of 1.15.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $1.02 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.11 billion. On average, analysts predict that Teck Resources will post 2.87 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Benchmark increased their price target on Teck Resources from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and set a $55.00 price objective on shares of Teck Resources in a research report on Thursday, April 11th. UBS Group started coverage on shares of Teck Resources in a research report on Tuesday, January 16th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Teck Resources from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.