Westshore Terminals Announces Q4 2018 Distribution

VANCOUVER, Dec.17, 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 January 15, 2019 to shareholders of record on December 31, 2018, which is the same per share amount that was paid in each quarter of 2018.  The Q4 2018 dividend will be designated an "eligible dividend" for Canadian tax purposes.

For the eleven months ended November 30, 2018, Westshore loaded 28.0 million tonnes as compared to 26.3 million tonnes for the same period in 2017. Throughput volumes for 2018 are anticipated to be approximately 30 - 30.5 million tonnes. Winter weather conditions (high winds) can impact throughput. 2019 volumes are anticipated to be approximately 31- 32 million tonnes, at rates higher than 2018 overall.

Year to date in 2018, Westshore has purchased 3,510,375 common shares under its normal course issuer bid for $85.6 million, as compared to 2,612,317 common shares for some $60.6 million purchased in 2017.   

The foregoing statements concerning anticipated throughput volumes and loading rates, and the levels of dividends, the cost and timing of the capital project 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

Nick Desmarais, Secretary & Vice President Corporate Development, [phone]