Mr. Nick Desmarais reports
WESTSHORE TERMINALS ANNOUNCES Q2 2017 DISTRIBUTION
Westshore Terminals Investment Corp. will pay a dividend of 16 cents per share on or before July 15, 2017, to shareholders of record on June 30, 2017, which is the same per-share amount that was paid in first quarter 2017. The second-quarter 2017 dividend will be designated an eligible dividend for Canadian tax purposes.
For the five months ended May 31, 2017, Westshore loaded 10.7 million tonnes as compared with 10.9 million tonnes for the same period in 2016. Throughput volumes for 2017 are anticipated to be approximately 28 million to 28.5 million tonnes, at handling rates comparable with 2016. Revenues for 2017, unlike 2016, will not include any significant payments from renegotiated customer contracts.
The $270-million capital project continues to progress on schedule and on budget. The new building and shops as well as new shiploader were completed in 2016. The first of three new stacker reclaimers is currently being commissioned and expected to be fully operational by the end of June. The second new stacker reclaimer will arrive in July, and be erected and put in service by Q1 2018. The third stacker reclaimer will arrive in Q2 2018 and be operational by the end of 2018.
We seek Safe Harbor.
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