VANCOUVER, June 20, 2016 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) ("Westshore" or the "Corporation") announced today that a dividend of $0.16 per share will be paid on or before July 15, 2016 to shareholders of record on June 30, 2016, which is the same per share amount that was paid in Q1 2016. The Q2 2016 dividend will be designated an "eligible dividend" for Canadian tax purposes.
For the five months ended May 31, 2016, Westshore loaded 10.9 million tonnes as compared to 13.1 million tonnes for the same period in 2015. Lower volumes in 2016 are as a result of renegotiated customer contracts in 2015 previously announced. Throughput volumes for 2016 are anticipated to be approximately 25 million tonnes, at rates higher than in 2015. Revenues for 2016 will also include payments from customers whose contracts were renegotiated in 2015 and from reservation fee payments.
The foregoing statements concerning anticipated throughput volumes and loading rates, and the levels of dividends are forward-looking statements that reflect the current expectations of the Corporation with respect to future events and performance. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such performance or results will be achieved.
Forward-looking statements are based on information available at the time they are made, assumptions made by management, and management's good faith belief with respect to future events, and will be impacted by and are subject to the risks and uncertainties outlined in the Corporation's Annual Information Form that could cause actual performance or results to differ materially from those reflected in the forward-looking statements, historical results or current expectations.
SOURCE Westshore Terminals Investment Corporation
For further information: Nick Desmarais, Secretary & Vice President Corporate Development, (604) 488-5214