Updating Teck Resources Ltd., Bank of Montreal and Telus Corp.

Article Excerpt

TECK RESOURCES LTD. $29 (www.teck.com) is a leading producer of metallurgical coal, a key ingredient in steelmaking. It also produces zinc and copper. The company recently completed its plan to buy back $400 million of its class B subordinate-voting shares, and now plans to repurchase an additional $600 million worth by October 2019. To put those amounts in context, Teck’s current market cap is $16.6 billion. Share buybacks raise earnings per share and other per-share calculations. That gives the remaining shareholders a larger stake in the company. Buy. BANK OF MONTREAL $99 (www.bmo.com) will raise its quarterly dividend by 3.0%, starting with the August 2019 payment. Investors will then receive $1.03 a share, up from $1.00. The new annual rate of $4.12 yields a high 4.2%. Buy. TELUS CORP. $50 (www.telus.com) is Canada’s third-largest wireless carrier, after Rogers Communications (No. 1) and BCE (No. 2). It also sells landline telephone and Internet services in B.C., Alberta and eastern Quebec. For all of 2019, Telus expects to spend $2.85 billion on…