VANCOUVER, BC, March 16, 2021 /CNW/ - Terminals Investment
Corporation (TSX: WTE) ("Westshore" or the "Corporation")
announced today an increase in the quarterly dividend from
$0.16 per share to $0.20 per share. The Q1 dividend will be
paid on or before April 15, 2021 to
shareholders of record on March 31,
2021. The Q1 2021 dividend will be designated an "eligible
dividend" for Canadian tax purposes.
Westshore also announces a one-time, non-recurring special
dividend of $0.50 per share, which
will also be paid on or before April 15,
2021 to shareholders of record on March 31, 2021, together with the Q1 dividend
announced above. The special dividend will be designated an
"eligible dividend" for Canadian tax purposes.
This special dividend has been approved and is being paid in
recognition of Westshore's current cash resources versus cash
needs. There is no assurance that any other special dividends will
be paid in the future and if paid for what amount. The board will
continue to review all relevant factors including operating
performance, current and anticipated market conditions, funds
applied to repurchase shares, other opportunities that may come
before Westshore and other potential capital upgrade
projects.
Westshore anticipates shipping approximately 7.8 million tonnes
in Q1 2021, compared to 7.7 million tonnes for the same period in
2020. 2021 throughput volumes are anticipated to be approximately
25 million tonnes.
The foregoing statements concerning anticipated throughput
volumes 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