VANCOUVER, Sept. 18, 2018 /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 October 15, 2018 to shareholders of record on September 30, 2018, which is the same per share amount that was paid in Q1 and Q2 of 2018. The Q3 2018 dividend will be designated an "eligible dividend" for Canadian tax purposes.
For the eight months ended August 31, 2018, Westshore loaded 20.0 million tonnes as compared to 18.7 million tonnes for the same period in 2017. Throughput volumes for 2018 are anticipated to be 30 – 30.5 million tonnes, at handling rates somewhat higher than 2017.
The $270 million capital project continues to progress on schedule and under budget with the new shiploader and two new stacker reclaimers in full operation. The third new stacker reclaimer is on site at the terminal and installation and commissioning is expected to be completed in the first quarter of 2019.
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