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.
"After the flooding in 2011 and resulting dramatic reduction in harvested acres, the first half of 2012 has been a difficult one for WIT" said CEO Rob Davies. "The support of our customers and shareholders has been very good, and a strong crop inputs season combined with a good upcoming harvest provides a much more positive outlook for Fiscal 2012."
"The efficiencies that have been built into the terminal's grain handling operation continue to benefit our customers, and their continued support across our other business lines has allowed for good results in a difficult year " said CEO Rob Davies. "WIT has maintained our focus on providing high-value, low-cost services to all our farmer customers. We believe the focus on farmers' needs that comes from being farmer owned and controlled will continue to pay off for both customers and shareholders in the long term, especially as we move to a new marketing environment with the end of the CWB monopoly."
WIT is a shareholder-owned, farmer-directed grain company located on CP Rail's Soo Line near Weyburn, Saskatchewan. Since its start in 1976, 'The Terminal' has been at the forefront of change in the industry, leading the way to help improve the overall efficiency of Canada's grain-handling system. The philosophy and goals of the company are summed up in its mission statement: Profitability Through Service, Innovation and Integrity.