Sir Royalty Income Fund SIRZF

Primary Symbol: T.SRV.UN

Consumer Cyclical Restaurants

SIR Royalty Income Fund (the Fund) holds investment in SIR Corp (SIR). The Funds' investment, SIR is engaged in the business of owning and operating full-service restaurants in Canada. SIR has concept restaurant brands, including Jack Astor’s Bar and Grill, Scaddabush Italian Kitchen & Bar, and Canyon Creek Chop House, signature restaurant brands, such as Reds Wine Tavern, Reds Midtown Tavern, Reds Square One, and The Loose Moose, which are used by SIR under a license agreement with SIR Royalty Limited Partnership (the Partnership. The Fund receives distribution income from its investment in the Partnership and interest income from the SIR Loan. The Fund indirectly participates in the revenues generated under the License and Royalty Agreement through its Investment in the Partnership.

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Sir Royalty Income Fund

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Post by flamingogoldon Mar 12, 2021 10:58am

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Trend once distributions resume

SRV is a laggard in the sector and while distributions are still on pause, the eventual resumption of even a partial distribution offers further capital gains in addition to the dividend income itself.

Looking at BPF, dividends have been re-instated to 56% of pre-pandemic levels... yet their share price has fully recovered.

I think we can easily hit $8 later this year (2nd half) with the announcement of dividiends coming back. This is a conservative estimate as the sector will likely rebound to record levels with pent-up demand and an overall reduction in competition.

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