Toronto Stock Exchange: BPF.UN
VANCOUVER, March 10, 2020 /CNW/ - Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN) announced today a cash distribution to unitholders of 10.2 cents per unit for February 2020. The distribution will be paid on March 31, 2020 to unitholders of record at the close of business on March 21, 2020. The Fund periodically reviews distribution levels based on its policy of stable and sustainable distribution flow to unitholders.
The Fund is a limited purpose open ended trust with an excellent track record for investors since its IPO in 2002. Including the February 2020 distribution which is payable on March 31, 2020, the Fund will have paid 212 consecutive monthly distributions totaling $341.3 million or $22.22 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. 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.
® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trademarks and unregistered Canadian trademarks containing the words "Boston", "BP", and/or "Pizza" are trademarks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.
© Boston Pizza International Inc. 2020
SOURCE Boston Pizza Royalties Income Fund
For further information: Michael Harbinson, Chief Financial Officer, Tel: 905-848-2700, E-mail: [email protected], www.bpincomefund.com