Westshore Terminals Income Fund

Westshore Terminals Income Fund

December 01, 2006 20:00 ET

Westshore Terminals Income Fund: Q4 Distribution Announcement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 1, 2006) - Westshore Terminals Income Fund (TSX:WTE.UN) (the "Fund") announced today that a cash distribution of $23,577,672 (representing $0.335 per trust unit) will be paid on or before January 15, 2007 to unitholders of record on December 31, 2006, as compared to $27,096,728 (representing $0.385 per trust unit) for the same period in 2005. For unitholder income tax purposes, it is anticipated that the distribution will be substantially all income.

For 2006, total distributions will be $1.205 per unit as compared to $1.165 per unit in 2005.

For the fourth quarter of 2006, Westshore anticipates that its tonnage throughput will be moderately above the 5.0 million tonnes for the same period in 2005. Tonnage throughput for the year is anticipated to be under 19 million tonnes compared to 21.7 million tonnes for 2005.

The Fund also announced that with respect to the new tax rules for income trusts announced on October 31, 2006 by Finance Minister Flaherty, the Fund has written to the Minister objecting to such tax changes. A copy of the letter sent to the Minister and a draft form of letter unitholders may wish to use and send to the Minister can be viewed on the Fund's website (www.westshore.com).

Contact Information

  • Westshore Terminals Income Fund
    Nick Desmarais
    (604) 488-5295
    Website: www.westshore.com