Westshore Terminals Announces Q2 2020 Distribution

VANCOUVER, BC, June 15, 2020 /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, 2020 to shareholders of record on June 30, 2020, which is the same per share amount that was paid in Q1 2020. The Q2 2020 dividend will be designated an "eligible dividend" for Canadian tax purposes.

The impacts of the COVID-19 pandemic on Westshore's own operations have been minimal, and there is no expectation that this will change. Westshore has adopted significant additional health and safety measures to provide a high standard of safety in the work environment for our employees.

The pandemic has not caused any change in Westshore's estimated throughput volumes for 2020. Westshore relies on its customers' throughput, rail service to deliver that throughput, and other essential service providers.  Restrictions which are imposed on any of these by reason of the pandemic could have a negative impact on Westshore. Westshore also recognizes that broader impacts of the pandemic could negatively impact Westshore.

Westshore anticipates that by June 30 it will have loaded approximately 15.2 million tonnes in 2020. Based on current information, 2020 throughput volumes are anticipated to be approximately 30.5 million tonnes, at an average loading charge comparable to 2018 levels.

The foregoing statements concerning anticipated throughput volumes, the anticipated average loading charge, the possible effects of the COVID-19 pandemic, 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 and subsequent disclosure documents 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

Glenn Dudar, Vice President/General Manager, [phone]