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Keg Royalty fund doubling distribution as sales recover
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The Keg Royalties Income Fund Announces An Increase In
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VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) The Keg Royalties Income Fund (the “Fund”) (TSX: KEG.UN) and Keg Restaurants Ltd (“KRL”) are pleased to announce the financial results of the Fund for the first quarter of 2021.
HIGHLIGHTS
KRL system sales down 52.4% to $68.6M for the 13-week period
Royalty Pool sales down 51.9% to $68.6M for the quarter
Distributable cash down 76.7% to 12.0 cents/Fund unit for the quarter
Payout ratio was 140.6% for the first quarter of 2021
Royalty Pool sales reported by the 106 Keg restaurants in the Royalty Pool were $68,575,000 for the quarter, a decrease of $74,078,000 or 51.9% from the comparable quarter of the prior year.
The Keg Royalties Income Fund announces March 2021 cash distribution The Keg Royalties Income Fund Richmond, British Columbia, CANADA
VANCOUVER, British Columbia, March 10, 2021 (GLOBE NEWSWIRE) The Keg Royalties Income Fund (the “Fund”) (TSX: KEG.UN) today announced that its March 2021 distribution of $0.035 per unit has been declared and is payable to unitholders of record as at March 21, 2021. The March 2021 distribution will be paid on March 31, 2021.
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, 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.
The Keg Royalties Income Fund announces December 2020 cash distribution The Keg Royalties Income Fund Richmond, British Columbia, CANADA
VANCOUVER, British Columbia, Dec. 11, 2020 (GLOBE NEWSWIRE) The Keg Royalties Income Fund (the “Fund”) (TSX: KEG.UN) today announced that its December 2020 distribution of $0.05 per unit has been declared and is payable to unitholders of record as at December 21, 2020. The December 2020 distribution will be paid on December 31, 2020.
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, 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.
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