Toronto Stock Exchange: BPF.UN
VANCOUVER, Dec. 9, 2019 /CNW/ - Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN) announced today a cash distribution to unitholders of 11.5 cents per unit for November 2019. The distribution will be paid on December 31, 2019 to unitholders of record at the close of business on December 21, 2019. 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 November 2019 distribution which is payable on December 31, 2019, the Fund has delivered 18 distribution increases and 209 consecutive monthly distributions to unitholders totaling $334.4 million or $21.91 per unit since 2002. The Fund earns revenue based on the franchise system sales from the 396 Boston Pizza restaurants included 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 395 mainly franchisee operated restaurants. The Boston Pizza brand has successfully existed for over 50 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
For further information: Michael Harbinson, Chief Financial Officer, Tel: 905-848-2700, E-mail: [email protected], www.bpincomefund.com