Teck Posts CAD1.5 Billion Q4 EBITDA, Advances Merger And Declares Dividend
Teck generated adjusted EBITDA of CAD 1.5 billion in Q4 2025, up CAD 678 million year-over-year, and ended the period with CAD 9.3 billion liquidity, including CAD 5.2 billion cash. The board declared a CAD 0.125 per share dividend payable March 31 and advanced its merger of equals with Anglo American after shareholder vote and Investment Canada Act approval.
1. Q4 2025 financial performance
In the fourth quarter of 2025, Teck achieved adjusted EBITDA of CAD 1.5 billion, a CAD 678 million increase from Q4 2024, and reported profit from continuing operations before taxes of CAD 792 million. The copper segment delivered CAD 747 million gross profit on average prices of US$5.03 per pound, while the zinc business generated CAD 243 million gross profit.
2. Balance sheet and liquidity
Teck ended the year in a net cash position after generating CAD 1.3 billion in operating cash flow, and held total liquidity of CAD 9.3 billion as of February 18, 2026, including CAD 5.2 billion in cash.
3. Dividend and merger progress
On December 9, 2025, shareholders voted overwhelmingly in favour of the merger of equals with Anglo American, and on December 15 the Government of Canada granted approval under the Investment Canada Act. The board also declared an eligible dividend of CAD 0.125 per share, payable on March 31, 2026 to shareholders of record as of March 13, 2026.