Boston Pizza Royalties Income Fund Announces November 2020 Distribution
Toronto Stock Exchange: BPF.UN
VANCOUVER, BC, Dec. 9, 2020 /CNW/ - Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN) announced today a cash distribution to unitholders of $0.065 per unit for November 2020. The distribution will be paid on December 31, 2020 to unitholders of record at the close of business on December 21, 2020. The Fund periodically reviews distribution levels based on its policy of stable and sustainable distribution flow to unitholders.
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The Fund is a limited purpose open ended trust with an excellent track record for investors since its IPO in 2002. Including the November 2020 distribution which is payable on December 31, 2020, the Fund will have paid 215 monthly distributions totaling $345.5 million or $22.42 per Unit. The Fund earns revenue based on the franchise system sales of the 395 Boston Pizza restaurants in the Fund's royalty pool.
BPI is Canada's number one casual dining brand with annual gross sales of over $1.1 billion serving more than 50 million guests through over 390 mainly franchisee operated restaurants in 2019. The Boston Pizza brand has successfully existed for over 55 years since opening its first restaurant in Edmonton, Alberta in 1964. BPI has been recognized as a Platinum Member of Canada's 50 Best Managed Companies and has been a Franchisees' Choice Designation winner for eight consecutive years.
The trustees of the Fund have approved the contents of this news release.
SOURCE Boston Pizza Royalties Income Fund
Michael Harbinson, Chief Financial Officer, Tel: 905-848-2700, E-mail: [email protected], www.bpincomefund.com
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