VANCOUVER, June 16 /CNW/ - Westshore Terminals Income Fund (TSX: WTE.UN)
(the "Fund") announced today that a cash distribution of $34,897,508
(representing $0.47 per trust unit) will be paid on or before July 15, 2008 to
unitholders of record on June 30, 2008 as compared to $18,562,504
(representing $0.25 per trust unit) for the same period in 2007. For
unitholder income tax purposes, the distribution is comprised of 100% income.
Higher throughput rates were realized earlier in Q2 2008 than previously
anticipated, following this coal year's coal price increase and as a result
(and based on currently anticipated volumes), average quarterly distributions
for the second half of 2008 are anticipated to be only modestly higher than
the Q2 2008 distribution.
For the second quarter of 2008, Westshore anticipates that its tonnage
throughput will be approximately 5.4 million tonnes as compared to 5.7 million
tonnes for the same period in 2007. Tonnage throughput for the first six
months of 2008 is anticipated to be approximately 10.6 million tonnes compared
to 10.2 million tonnes for 2007. Based on estimates provided periodically to
Westshore by its customers, Westshore anticipates that total throughput for
2008 will be between 21 and 22 million tonnes.
For further information:
For further information: Nick Desmarais, Secretary, (604) 488-5295