VANCOUVER, BC, March 8,
2024 /CNW/ - Westshore Terminals Investment
Corporation (TSX: WTE) ("Westshore" or the "Corporation")
announced today an increase in the quarterly dividend from
$0.35 per share to $0.375 per share. The Q1 dividend will be
paid on or before April 15, 2024, to
shareholders of record on March 31,
2024. The Q1 2024 dividend will be designated an "eligible
dividend" for Canadian tax purposes. The board will continue to
review all factors relevant to the level of dividends, including
operating performance, current and anticipated market conditions,
and the suitability of applying funds to repurchase shares.
Westshore also announces a one-time, non-recurring special
dividend of $0.35 per share, which
will also be paid on or before April 15,
2024, to shareholders of record on March 31, 2024, together with the Q1 dividend
announced above. The special dividend will be designated an
"eligible dividend" for Canadian tax purposes.
For the two months ended February 29, 2024, Westshore
loaded 4.0 million tonnes compared to 4.3 million tonnes for the
same period in 2023. Westshore anticipates shipping approximately
6.2 million tonnes in Q1 2024, compared to 6.9 million tonnes for
the same period in 2023.
For 2024, based on information currently available, volumes are
projected to be approximately 25.5 million tonnes. The average
loading charge for the year is estimated at $13.40.
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
