Press release from CNW Group
Westshore Terminals announces Q2 2013 distribution
Monday, June 17, 2013
Westshore Terminals announces Q2 2013 distribution20:00 EDT Monday, June 17, 2013
VANCOUVER, June 17, 2013 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) (the "Corporation") announced today that a payment of $24,502,505 (representing $0.33 per share) will be paid on or before July 15, 2013 to shareholders of record on June 30, 2013 as compared to a distribution of $23,852,818 (representing $0.321 per unit) for the second quarter of 2012. The Q2 2013 distribution is a dividend only payment and is therefore not comparable with the Q2 2012 distribution which was comprised of a dividend of $0.19 per unit and an interest payment of $0.13125 per unit. The change in the form of distribution payment results from the corporation's capital restructuring completed in July 2012, and previously reported.
For the five months ended May 31, 2013, Westshore loaded 11.7 million tonnes as compared to 11 million tonnes for the same period in 2012. Throughput volumes for 2013, after factoring in the Berth 1 disruption during January and through February 9, 2013, are anticipated to be 28 -30 million tonnes or more for the year as a whole. In the absence of this incident, it had been anticipated that throughput levels would have been approximately 30 - 32 million tonnes or more, at average rates higher than 2012 as a whole.
The foregoing statements concerning anticipated throughput volumes 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
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