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Westshore exports, dividend up

DESPITE extended disruptions to one of its berths, Westshore Terminals has announced an improved ...

Staff Reporter

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Westshore Terminals Investment Corporation, the parent of operating company Westshore Terminals Limited Partnership, said in a statement Monday that its Q2 dividend would be $0.33 per share, higher than last year’s $0.32.

The two are not comparable however, with the Q2 2012 distribution comprised of a dividend of $0.19 per unit and an interest payment of $0.13125 per unit. The Q2 2013 distribution is a dividend-only payment.

The dividend will be payable on July 15 to stockholders on the register at the close of business June 30.

For the five months ended May 31, the mega coal export terminal loaded 11.7 million tons, up from 11 million tons in the same period of 2012.

Westshore said that throughput volumes for 2013, after factoring in the Berth 1 disruption during January and part of February, were anticipated to be 28-30 million tons or more for the year as a whole.

In the absence of the Berth 1 incident, the terminal company said that throughput levels would have been approximately 30-32 million tons or more, higher than average 2012 rates.

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