Sir Royalty Income Fund SIRZF

Source of distribution

[BlueJay2020]

It's being said that the 7 cents is split 4 cents from deferred and 3 cents from current operations. 

I would like to know where these numbers are being plucked from. 

Here's my basic attempt at breaking it down.

7 cents a unit equates to just under $600,000 in aggregate payout.  The interest on the SIR Loan is $250,000 a month - that's 3 cents a share right there from June, before you get to royalties from the four-week operating period ended July 4, 2021. Patio dining was in effect for a good chunk of that period..  Even assuming a 70% sales decline from pre-COVID  that would still equate to (let's conversatively say) 2 to 2.5 cents a unit per month. 

That would leave only 1.5 to 2 cents cents top-up from the deferred bucket.  I imagine that they have selected this as a sustainable level once indoor dining is fully established, without need to dip into the deferred bucket, which will be on top.

Is my math wrong?

[flamingogold]

Rob, right there with you! BP is just lousy served frozen food. I admire Jim Trevliving, but his standard for great tasting food fall behind SRV and KEG.

[Robsopinion]

For the royalty investors out there, check out diversified royalty DIV-T. It has Mr Mike's for restaurant exposure, MR. lube, a real estate company etc. I have a small position I picked up during the pandemic. It pays 7+% now, great payout, great history of payout, shady management team. But the company fundamentals are good and the payout is also. 

[flamingogold]

My next (hopeful) comeback play is MRT.UN, the underdog of the reits like SRV is of the restaurants. MRT trading for dirt still. Second to that I think CHR makes a comeback in 2022. Third is HOT.UN. The latter two have yet to restart divs at all (and we all know what happens when divs kick in) while MRT has sliced in half twice. Did I say I like underdogs?

[babedinkleman]

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