Westshore Terminals Announces Increased Quarterly Dividend

Westshore Terminals Announces Increased Quarterly Dividend

Canada NewsWire

VANCOUVER, BC, Sept. 14, 2021 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) ("Westshore" or the "Corporation") announced today that, following a periodic review, the Board of Directors has determined to increase the quarterly dividend from $0.20 per share to $0.25 per share. In such reviews the Board takes into account operating performance, current and anticipated market conditions and other potential requirements for and uses of funds on hand.  A dividend of $0.25 per share will therefore be paid on or before October 15, 2021 to shareholders of record on September 30, 2021. The dividend will be designated an "eligible dividend" for Canadian tax purposes.

For the eight months ended August 31, 2021, Westshore loaded 19.6 million tonnes, compared to 19.8 million tonnes for the same period in 2020. Throughput volumes for 2021 are anticipated to be in excess of 29 million tonnes. The average handling rate for 2021 as a whole is anticipated to be slightly higher than the  average rate in the first half of the year.

The foregoing statements concerning anticipated throughput volumes, average handling rate and the level of future 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

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