Westshore Terminals Announces Q4 2020 Distribution

VANCOUVER, BC, Dec. 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 January 15, 2021 to shareholders of record on December 31, 2020, which is the same per share amount that was paid in each quarter of 2020. The Q4 2020 dividend will be designated an "eligible dividend" for Canadian tax purposes.

For the eleven months ended November 30, 2020, Westshore loaded 26.9 million tonnes compared to 28.0 million tonnes for the same period in 2019. Throughput volumes for 2020 are anticipated to be approximately 29.5 million tonnes. For 2021, based on information currently available, volumes are projected to be approximately 21 million tonnes, and could vary (positively or negatively) by up to 10%, at an average loading charge  lower than 2020 levels by up to 5%.

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

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