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

Teck Resources Limited (NYSE:TECK) (TSE:TECK) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given 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 yield of 0.81%. The ex-dividend date is Friday, March 14th.

Teck Resources has raised its dividend by an average of 35.7% annually over the last three years. Teck Resources has a payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. 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 Resources stock traded up $0.64 during trading hours on Thursday, reaching $43.34. 3,849,881 shares of the stock traded hands, compared to its average volume of 2,879,717. Teck Resources has a one year low of $37.30 and a one year high of $55.13. The firm has a market capitalization of $21.61 billion, a price-to-earnings ratio of 65.66 and a beta of 1.02. 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 company has a 50 day moving average price of $42.05 and a 200 day moving average price of $45.75.

Teck Resources (NYSE:TECK) (TSE:TECK) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, beating 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%. On average, equities research analysts expect that Teck Resources will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Raymond James dropped their price objective on Teck Resources from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft downgraded Teck Resources from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Friday, October 25th. StockNews.com upgraded shares of Teck Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. dropped their target price on shares of Teck Resources from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, National Bank Financial downgraded shares of Teck Resources from an “outperform” rating to a “sector perform” rating in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.38.

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.