Sir Royalty Income Fund T.SRV.UN

Alternate Symbol(s): SIRZF

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.

TSX:SRV.UN - Post by User

Sir Royalty Income Fund

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Comment by JReynoldson Nov 25, 2012 10:49am

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Post# 20640960

RE: RE: POR above 100% for the time being...

Well, if the 4 new restaurants are able to come online by Jan 1, 2013, and start being productive from then, then that's good news. It's sooner that I thought - perhaps I have not read the Q3 reports sufficiently. So thank you for highlighting this to me.If what you mentioned is true bing SRV.UN loves paying out 100% POR, then this is a small concern to me. Which means they don't have any leftover for whatever uneventualities that might happen, or to be able to capitalize on a new opportunity if the opp suddenly presents itself. They always need to create debts to have money to work with. And debts are costly with interests to pay.The DPU might be affected here if the new restautarants do not perform to expectations, or they needed timeto ramp-up. Still, I don't think there is a need for a divy cut just because of the above events.I'm staying with this counter.

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