KEG Royalties Income Fund T.KEG.UN

Alternate Symbol(s): KRIUF

Consumer Cyclical Restaurants

The Keg Royalties Income Fund (the Fund) is a limited-purpose open-ended trust. The Fund’s objective is to provide consistent monthly distributions to unitholders at the highest sustainable level. The Fund, through its subsidiary The Keg Rights Limited Partnership (the Partnership), purchased The Keg trademarks and other related intellectual property (the Keg Rights) from Keg Restaurants Ltd. (KRL). The business of the Partnership is the ownership of the Keg Rights and, through a License and Royalty Agreement with KRL to exploit the use of the Keg Rights and the collection of the royalty payable under the License and Royalty Agreement equal to 4% of gross sales of Keg restaurants included in a specific pool (the Royalty Pool). KRL’s principal activity is the operation and franchising of Keg steakhouse and bar restaurants in Canada and the United States. The Keg GP Ltd. is the general partner of the partnership and administrator of the Fund.

TSX:KEG.UN - Post by User

KEG Royalties Income Fund > Distribution Increase

<< Previous

Bullboard Posts

Next >>

Post by pierrelebelon Jul 12, 2021 10:02pm

234 Views

Post# 33534224

Distribution Increase

VANCOUVER, British Columbia, July 12, 2021 (GLOBE NEWSWIRE) -- The Keg Royalties Income Fund (TSX: KEG.UN or the “Fund”) today announced that it would be increasing the monthly distributions on units of the Fund (“Units”) commencing with the July 2021 distribution. Monthly distributions will be increased from their current level of $0.035 per Unit to $0.07 per Unit. The revised monthly distribution of $0.07 per Unit has therefore been declared and will be paid on July 30, 2021 to unitholders of record on July 21, 2021. Annually, the revised distributions result in an increase from the current level of $0.42 per Unit to $0.84 per Unit. The Fund currently plans to make those distributions each month for the next three months on the traditional pattern ending on September 30, 2021.

<< Previous

Bullboard Posts

Next >>

KWESST to provide situational awareness for the Canadian Red Cross