Friday, April 23, 2010

Teck Resources (TSE:TCK-B) Reinstates Dividend Faster Than Expected

You could tell that Teck Resources (NYSE:TCK)(TSE:TCK-B) CEO Don Lindsay really wanted the dividend of the company restored, and he confirms he meant what he said when saying recently it was a "high priority" of the company.

The new dividend will be 20 cents a share on an annual basis, which will cost Teck about $236 million a year.

When Tech Resources last paid a dividend it was for 50 cents a share, which was eliminated in the latter part of 2008 when the company needed to cut costs from the slowing global economy.

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