Teck Resources Ltd Plans Quarterly Dividend of C$0.12 (NYSE:TECK)

Teck Resources Ltd (NYSE:TECK) (TSE:TECK) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.125 per share by the basic materials company on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 15th.

Teck Resources has raised its dividend payment by an average of 0.2%annually over the last three years. Teck Resources has a payout ratio of 19.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Teck Resources to earn $2.87 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 12.5%.

Teck Resources Stock Up 1.3%

Shares of Teck Resources stock traded up $0.77 during trading hours on Friday, hitting $60.62. The company had a trading volume of 1,824,058 shares, compared to its average volume of 3,814,229. The company’s 50-day moving average is $61.48 and its two-hundred day moving average is $57.47. Teck Resources has a twelve month low of $30.98 and a twelve month high of $71.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.83 and a quick ratio of 2.16. The company has a market cap of $29.28 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TECK. Brown Brothers Harriman & Co. purchased a new position in Teck Resources during the fourth quarter worth $25,000. Geneos Wealth Management Inc. raised its stake in Teck Resources by 117.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 561 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 303 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Teck Resources by 411.8% during the first quarter. Blue Trust Inc. now owns 563 shares of the basic materials company’s stock valued at $29,000 after buying an additional 453 shares during the period. Versant Capital Management Inc lifted its position in Teck Resources by 86.5% during the second quarter. Versant Capital Management Inc now owns 1,587 shares of the basic materials company’s stock worth $94,000 after buying an additional 736 shares during the period. Finally, Oslo Pensjonsforsikring AS purchased a new position in shares of Teck Resources during the 1st quarter worth about $83,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Teck Resources Company Profile

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.