Teck Resources Ltd (NYSE:TECK) to Issue Quarterly Dividend of C$0.13

Teck Resources Ltd (NYSE:TECK) (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) annualized dividend and a yield of 0.8%. The ex-dividend date 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. Equities 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 Stock Performance

NYSE:TECK traded up $0.20 on Friday, hitting $60.95. The stock had a trading volume of 691,860 shares, compared to its average volume of 4,261,045. The stock has a market cap of $29.38 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 3.11 and a beta of 0.85. The company has a quick ratio of 1.91, a current ratio of 2.54 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $54.56 and its two-hundred day simple moving average is $49.38. Teck Resources has a 52-week low of $30.98 and a 52-week high of $63.26.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its earnings results on Thursday, February 19th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.39. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Teck Resources had a return on equity of 5.90% and a net margin of 12.98%.The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. As a group, research analysts predict that Teck Resources will post 2.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Louisbourg Investments Inc. raised its stake in Teck Resources by 10.3% during the 1st quarter. Louisbourg Investments Inc. now owns 175,850 shares of the basic materials company’s stock valued at $9,096,000 after purchasing an additional 16,388 shares during the period. Union Bancaire Privee UBP SA raised its stake in Teck Resources by 36.2% during the 1st quarter. Union Bancaire Privee UBP SA now owns 32,096 shares of the basic materials company’s stock valued at $1,661,000 after purchasing an additional 8,536 shares during the period. Welch Group LLC raised its stake in Teck Resources by 6.2% during the 1st quarter. Welch Group LLC now owns 6,266 shares of the basic materials company’s stock valued at $324,000 after purchasing an additional 367 shares during the period. Blue Trust Inc. raised its stake in Teck Resources by 411.8% during the 1st quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 453 shares during the period. Finally, Banque Cantonale Vaudoise raised its stake in Teck Resources by 33.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 5,200 shares of the basic materials company’s stock valued at $269,000 after purchasing an additional 1,300 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

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.