Mr. Nick Desmarais reports
WESTSHORE TERMINALS ANNOUNCES Q1 2017 DISTRIBUTION
Westshore Terminals Investment Corp. has declared a dividend representing 16 cents per share payable on or before April 15, 2017, to shareholders of record on March 31, 2017, which is the same amount that was paid in fourth quarter 2016. The first-quarter 2017 dividend will be designated an eligible dividend for Canadian tax purposes.
Westshore anticipates that it will load approximately 6.2 million tonnes in Q1 2017 compared with 6.8 million tonnes for the same period in 2016. Based on current information, 2017 throughput volumes are anticipated to be 28 million to 28.5 million tonnes, up from the 27 million tonnes reported in December, 2016.
Westshore's $27-million capital project remains on time and on budget. The new consolidated office and maintenance shops, employee facilities, and warehouse building are complete and functioning as planned; the replacement shiploader at Berth 1 is in service. The first new stacker reclaimer will be up and running during second quarter 2017. The other two new stacker reclaimers are to be delivered in 2017 and 2018 respectively.
We seek Safe Harbor.
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