VANCOUVER, Oct. 10, 2017 /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 September 2017. The distribution will be payable to unitholders of record at the close of business on October 21, 2017 and will be paid on October 31, 2017. 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 August 2017 distribution which was paid on September 29, 2017, the Fund has delivered 18 distribution increases and 182 consecutive monthly distributions to unitholders totalling $266.6 million or $18.80 per unit since 2002. The Fund earns revenue based on the franchise system sales of the 383 Boston Pizza restaurants included in the Fund's royalty pool.
BPI is Canada's number one casual dining brand with annual gross sales in excess of $1.0 billion serving more than 45 million guests through over 380 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 six consecutive years.
The trustees of the Fund have approved the contents of this news release.
SOURCE Boston Pizza Royalties Income Fund
For further information: Wes Bews, Chief Financial Officer, Tel: 604-270-1108, E-mail: [email protected], www.bpincomefund.com