Profit attributable to shareholders was $572 million, or $0.99 per share, in the first quarter compared with $94 million, or $0.16 per share in the same period a year ago.
"Adjusted profit attributable to shareholders, after adjusting for the items identified in the table below was $671 million, or $1.16 per share, in the first quarter compared with $18 million, or $0.03 per share, in the same period last year. The most significant of these items relates to a loss on the repurchase of our debt at a premium in the first quarter of 2017.
The significant increase in our adjusted profit in the first quarter of 2017 was largely driven by substantially higher realized steelmaking coal prices and, to a lesser extent, higher copper and zinc prices. The higher commodity prices were partly offset by lower sales volumes of steelmaking coal and copper, as well as by higher unit operating costs primarily driven by reduced production levels. In addition, our profit was negatively affected by the weaker U.S./Canadian dollar average exchange rate compared with a year ago."
The policy will be anchored by an annual base dividend of $0.20 per share, which will be declared and paid quarterly, commencing in the third quarter, as $0.05 dividends on the last business day of each quarter. Each year the Board will review the free cash flow generated by the business, the outlook for business conditions and priorities regarding capital allocation, and determine whether a supplemental dividend should be paid. Any supplemental dividends declared would be paid on the last business day of the calendar year. If declared, supplemental dividends may be highly variable from year to year, given the volatility of commodity prices and the potential need to conserve cash for certain project capital expenditures or other corporate priorities. As always, the payment of dividends is in the discretion of the Board and the Board will review the dividend policy regularly.
Teck kriegt von Fortis ca. 1,2Bio. Dollar für die 2/3 Anteile des Kraftwerks Waneta (mit ner Leistung von ca. 630MW)!! Also noch mehr Cash...
Don L. sagte:
"This agreement will further strengthen Teck's balance sheet and provide significant new capital that can be reinvested to grow our overall business. We have secured a long-term power supply for Trail Operations at competitive, below-market pricing and will invest in innovative projects to further enhance and modernize this facility."