02:52 PM EST, 11/14/2024 (MT Newswires) -- Teck Resources Limited announced Thursday that its board of directors has declared an eligible dividend of $0.125 per share on its outstanding Class A common shares and Class B subordinate voting shares, to be paid on December 31, 2024 to shareholders of record at the close of business on December 13, 2024.

Back in July it declared an eligible dividend of $0.625 per share on its outstanding Class A common shares and Class B subordinate voting shares, to be paid on September 27, 2024 to shareholders of record at the close of business on September 13, 2024, consisting of the $0.125 per share base dividend and a one-time supplemental dividend of $0.50 per share.

In July when the company received regulatory approval for the sale of its steelmaking coal business it outlined how it intended to allocate proceeds. On cash return to shareholders it flagged a distribution of approximately US$182 million (C$250 million) through the declaration of an eligible dividend of C$0.50, to be declared by Teck's board on both the Class A common and Class B subordinate shares. The supplemental dividend was expected be paid on September 27, 2024, to shareholders of record at the close of business on September 13, 2024. This one-time supplemental dividend was in addition to the regular base quarterly dividend of $0.125 per share, for an expected total eligible dividend payable of $0.625 per share.

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