Teck Resources Ltd. (TSX:TCK) is sharing some of its wealth with shareholders with a dividend cheque, following a profitable first quarter.
Teck announced that it will pay an eligible dividend of $0.40 per share on its outstanding Class A common shares and Class B subordinate voting shares on July 3, 2012.
In its quarterly report, Teck reported a profit of $504 million ($0.86 per share) – an increase of 12% over 2011.
“Our strong first-quarter results demonstrate continued solid operating performance and the successful execution of our ongoing expansion programs, particularly in coal,” said Teck CEO Don Lindsay.
Teck is a diversified mining company, with copper, coal, zinc and oil assets.
Lindsay said his company’s near-term copper growth projects are on track and, with the acquisition of SilverBirch, the company has increased its bitumen resources by 67% to 3.5 billion barrels.
“With a strong balance sheet and strong cash flow, we are well positioned to successfully pursue our longer term growth plans,” Lindsay said.
