Toronto Stock Exchange: BPF.UN
VANCOUVER, BC, June 8, 2023 /CNW/ - Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN) announced today a cash distribution to unitholders of $0.107 per unit for May 2023. The distribution will be paid on June 30, 2023 to unitholders of record at the close of business on June 21, 2023. 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 May 2023 distribution which is payable on June 30, 2023, the Fund will have paid out 245 monthly distributions and two special distributions totaling $406.8 million or $25.27 per unit. The Fund earns revenue based on the franchise system sales of the 377 Boston Pizza restaurants in the Fund's royalty pool.
Boston Pizza International Inc. ("BPI") is Canada's number one casual dining brand. The Boston Pizza brand has served communities from coast-to-coast for 59 years since opening its first restaurant in Edmonton, Alberta in 1964. Today Boston Pizza proudly remains a Canadian company with its hundreds of local franchise owners operating more dining rooms, sports bars and patios than any other single brand in the country, along with take-out and delivery. BPI has been recognized both as a Franchisees' Choice Designation winner and a Platinum Member of Canada's 50 Best Managed Companies for many 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. 2023
SOURCE Boston Pizza Royalties Income Fund
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