Teck Resources Limited (TECK) to Issue Quarterly Dividend of $0.09 on December 31st

Teck Resources Limited (NYSE:TECK) (TSE:TECK) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.0895 per share by the basic materials company on Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, December 13th.

Teck Resources has increased its dividend by an average of 35.7% per year over the last three years. Teck Resources has a dividend payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Teck Resources to earn $1.91 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 19.4%.

Teck Resources Price Performance

Shares of TECK opened at $44.99 on Friday. The firm has a market capitalization of $22.63 billion, a price-to-earnings ratio of 68.17 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.92. Teck Resources has a one year low of $34.56 and a one year high of $55.13. The stock’s fifty day moving average is $48.73 and its 200-day moving average is $48.66.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.24. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.09 billion. Teck Resources had a return on equity of 6.37% and a net margin of 3.32%. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. Equities analysts anticipate that Teck Resources will post 1.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TECK shares. Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Teck Resources in a report on Thursday, July 25th. Scotiabank lifted their target price on Teck Resources from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Tuesday, October 8th. Paradigm Capital raised Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. Citigroup raised Teck Resources to a “hold” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Teck Resources from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

About Teck Resources

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.