The directors of Weyburn Inland Terminal Ltd. (WIT) announced their semi-annual dividends on August 10.
Shareholders will see dividends of $1.60 per Class "A" Preferred Share, and $0.20 per Common Share. Dividends on the outstanding shares of the corporation will be paid on or before August 31 to Shareholders of Record at the close of business on August 20.
Total payout will be about $1.072 million bringing total dividends paid to WIT Shareholders in 2010 to $1.609 million, representing a yield of 2.45 percent based on the current WIT share price of $12.25.
"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 excellent overall performance," said CEO Rob Davies. "While many companies charge different handling fees to farmers who have different crop qualities in different market areas, 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."
WIT is a shareholder-owned, farmer-directed grain company located on CP Rail's Soo Line near Weyburn. 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.