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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) declared 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 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, March 14th.

Teck Resources has increased its dividend payment by an average of 35.7% per year over the last three years. Teck Resources has a payout ratio of 18.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Teck Resources to earn $1.53 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 22.9%.

Teck Resources Stock Performance

Shares of TECK opened at $43.34 on Friday. 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 stock has a market cap of $21.61 billion, a P/E ratio of 65.66 and a beta of 1.02. The business’s 50 day moving average price is $42.01 and its 200-day moving average price is $45.74. Teck Resources has a 52 week low of $37.30 and a 52 week high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. Equities research analysts anticipate that Teck Resources will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on TECK shares. UBS Group downgraded shares of Teck Resources from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Raymond James cut their price target on shares of Teck Resources from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price objective on Teck Resources from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lowered Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Teck Resources has an average rating of “Moderate Buy” and an average price target of $65.38.

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.