VANCOUVER, BC, Nov. 13,
2023 /CNW/ - Westshore Terminals Investment
Corporation (TSX: WTE) ("Westshore" or the "Corporation")
announced today that it has filed its earnings report for the third
quarter ended September 30, 2023, and
related management's discussion and analysis with the Canadian
security regulatory authorities. Copies of the documents are
available on SEDAR at www.sedar.com and the Corporation's website
at www.westshore.com. The comparative statement of cash flows
contains a reclassification for 2022 of amounts received in respect
of potash infrastructure additions. The reclassification has
no net effect on the statement of cash flows, and no effect at all
on the balance sheet or income statement. The 2022 audited
financial statements are being refiled to reflect the
reclassification.
Westshore also announced today that a dividend of $0.35 per share will be paid on or before
January 15, 2024, to shareholders of
record on December 31, 2023, which is
the same per share amount that was paid in Q3 2023. The Q4
2023 dividend will be designated an "eligible dividend" for
Canadian tax purposes.
For the nine months ended September 30,
2023, Westshore loaded 21.0 million tonnes compared to 19.0
million tonnes for the same period in 2022.
Throughput volumes for 2023 as a whole are anticipated to be in
the range of 27.0 - 27.5 million tonnes. The average loading charge
for 2023 is expected to be approximately $12.85.
For 2024, based on information currently available, volumes are
projected to be approximately 25 million tonnes, and the average
loading charge for the year is estimated at $13.25.
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
