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 > money coming in April

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Comment by flamingogoldon Apr 01, 2021 8:17am

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Post# 32921181

RE:money coming in April

There is one more sentence that follows the line below.
"The Fund expects to use this payment to fund operations and for general corporate purposes."

The $1,000,000 payment is a positive surprise but I don't expect to receive a dividend before all indoor dining is fully re-opened across all regions, which imo is coming in the 2H of the year. Confirmation of the 7th waiver extension is proof chance of default is low. Other than Ford shutting the province down, the release did finish off in an opitmistic tone .

"We are encouraged that COVID-19 vaccinations are now ramping up across Canada and we look forward to the potential easing of restrictions on our operations as the year progresses." "We continue our efforts to position SIR for long-term success and eventually enable the resumption of unitholder distributions."

jcw604 wrote: The following is in the NR:
Further the senior lender consented to SIR making a distribution to the Partnership and/or the Fund in an amount up to $1,000,000 for previously deferred royalty payments and/or payments of interest on the SIR Loan. This amount is expected to be paid in April 2021 .