WIT Announces 2012 Results and Dividends
Claude Carles, President of ‘The Terminal’, announced today that the Company had after-tax consolidated earnings of $2,083,000 in Fiscal 2012 on sales of $150,400,000, even as the Company recovered from two consecutive years of localized flooding, and adapted to the open grain marketing environment. While grain volumes were lower in 2012 until the new crop was harvested, a strong spring in the crop inputs business, as farmers looked to maximize production after two consecutive years of reduced seeded acres, was positive for the Company. “As a local, producer driven company, WIT understood that the environmental challenges of 2010 and 2011 were simply obstacles to overcome. We have built financial stability to allow us to withstand those types of years, and we will continue to move forward with a positive attitude and a continuing focus on building a strong, successful, producer owned Company” said Carles.
WIT also announced that the Board of Directors has approved a semi-annual dividend of $0.15 per common share, and Preferred A shareholders will receive $3.20 per share. The dividend is to be paid on or before April 12, 2013 to shareholders of record on March 28, 2013. “Most of our shareholders are also our customers, and we depend on their support,” said Carles. “This semi–annual dividend payout of approximately $819,000 is a way to pay them back for their continuing support.
WIT Announces Dividends
The Directors of Weyburn Inland Terminal Ltd. announced semi-annual dividends of $3.20 per Class “A” Preferred Share, and $0.05 per Common Share to Shareholders of the Company. Dividends on the outstanding shares of the Corporation will be paid on or before August 31, 2012 to Shareholders of Record at the close of business on August 17, 2012. Total payout will be approximately $272,000.