The Keg Royalties Income Fund announces May 2017 cash distribution
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 11, 2017) - The Keg Royalties Income Fund (the "Fund") (TSX:KEG.UN) today announced that its May 2017 distribution of $0.0918 per unit has been declared and is payable to unitholders of record as at May 21, 2017. The May 2017 distribution will be paid on May 31, 2017.
The Fund is a limited purpose, open-ended trust established under the laws of the Province of Ontario that, through The Keg Rights Limited Partnership (the "Partnership"), a subsidiary of the Fund, owns certain trademarks and other related intellectual property used by Keg Restaurants Ltd. ("KRL"). In exchange for use of those trademarks, KRL pays the Fund a royalty of 4% of gross sales of Keg restaurants included in the royalty pool.
With approximately 8,600 employees, over 100 restaurants and system sales of approximately $580 million, Vancouver-based KRL is the leading operator and franchisor of steakhouse restaurants in Canada and has a substantial presence in select regional markets in the United States. KRL continues to operate The Keg restaurant system and expand that system through the addition of both corporate and franchised Keg steakhouses. KRL has been named one of the "50 Best Employers in Canada" by Aon Hewitt for the past fifteen years.
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