Westshore Terminals announces Q2 2015 distribution

VANCOUVER, June 15, 2015 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) ("Westshore" or the "Corporation") announced today that a dividend of $24,501,845 (representing $0.33 per share) will be paid on or before July 15, 2015 to shareholders of record on June 30, 2015, which is the same per share amount that was paid in Q2 2014.   The Q2 2015 dividend will be designated an "eligible dividend" for Canadian tax purposes.

For the five months ended May 31, 2015, Westshore loaded 13.1 million tonnes as compared to 12.4 million tonnes for the same period in 2014. Throughput volumes for 2015, are anticipated to be approximately 31 million tonnes for the year as a whole, at rates higher than 2014 as a whole.  Compared to 2014, more tonnage is being shipped under contracts that provide for higher loading rates, partly as a result of the restructuring of contracts in 2014. 2015 revenues also benefit from material foreign exchange gains and wharfage.   

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