VANCOUVER, BC, Dec. 13,
2022 /CNW/ - Westshore Terminals Investment
Corporation (TSX: WTE) ("Westshore" or the "Corporation")
announced today that a dividend of $0.30 per share will be paid on or before
January 15, 2023 to shareholders of
record on December 31, 2022, which is
the same per share amount that was paid in Q3 2022. The Q4 2022
dividend will be designated an "eligible dividend" for Canadian tax
purposes.
For the eleven months ended November 30,
2022, Westshore loaded 21.8 million tonnes compared to 27.1
million tonnes for the same period in 2021. Throughput volumes for
2022 are anticipated to be approximately 24.0. million tonnes at an
average loading charge of approximately $12.09. The 23-day strike at Westshore that ended
October 9, and reduced rail
performance from BNSF have impacted overall volumes in 2022.
For 2023, based on information currently available, volumes are
projected to be in the range of 23 - 24 million tonnes, with the
volumes in the back half of the year expected to be somewhat
higher than the first half of the year. The average loading charge
for the year is estimated at $12.50
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