Teck EBITDA Doubles to $2.1B, Copper Output Up 32%, $0.125 Dividend
Teck’s adjusted EBITDA doubled to $2.1 billion in Q1 2026 on record copper sales and $0.27 per pound lower cash costs. Copper output climbed 32% yoy to 140,000 tonnes with Trail profit at $258 million; the board declared a $0.125 dividend and won South Korean approval for the Anglo American merger.
1. Q1 2026 Financial and Production Highlights
Teck reported adjusted EBITDA of $2.1 billion in Q1 2026, more than double the prior year. Copper production rose 32% year-over-year to 140,000 tonnes from higher grades at Antamina and the ramp-up at Quebrada Blanca, while optimized feed at Trail Operations lifted gross profit before depreciation to $258 million and lowered cash costs by $0.27 per pound.
2. Dividend Declaration
The board approved an eligible dividend of $0.125 per Class A and Class B share, payable June 30 to shareholders of record on June 15. This continues Teck’s policy of returning capital while advancing its copper growth pipeline.
3. Anglo American Merger Status
The merger with Anglo American secured South Korean regulatory clearance, with the Chinese review proceeding under standard procedures. Advancing through these stages brings the combined entity closer to forming one of the world’s largest diversified mining companies.