Westshore Terminals announces Q1 2018 distribution

VANCOUVER, March 19, 2018 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) ("Westshore" or the "Corporation") announced today that a dividend representing $0.16 per share will be paid on or before April 15, 2018 to shareholders of record on March 31, 2018, which is the same amount that was paid in Q4 2017. The Q1 2018 dividend will be designated an "eligible dividend" for Canadian tax purposes.

Westshore anticipates that it will load approximately 7.0 million tonnes in Q1 2018 compared to 5.9 million tonnes for the same period in 2017. This volume level would represent a solid quarter, particularly given winter weather conditions and the ongoing work being conducted for capital project. Based on current information, 2018 throughput volumes are anticipated to be 30 million tonnes.

Westshore's $270 million capital project remains on time and under budget. The second new stacker reclaimer is up and running as of the end of February 2018 and the third new stacker reclaimer will be delivered during Q2 2018, and will be operational by late 2018 or early 2019, which will complete the current capital project.       

The foregoing statements concerning anticipated throughput volumes, the cost, duration and effects of the capital project and the levels of dividends and debt 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