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.

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Sir Royalty Income Fund

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Post by logicandinertiaon May 11, 2018 4:50am

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Post# 28016588

Q1 results - revs up 6.7 percent and distributable cash up

Sales for Q1 up 6.7 percent , driven by new Scaddabush and same store growth of 3.3 percent. Every one of the brands had positive comps.

Adjusted net earnings were $2.4 mm and distributable cash at $2.5mm, with payout ratio at 97.1 percent.

Recall that the the dividend was hiked post Q1 by 5 percent.

this remains totally corporate owned stores (no franchising), almost exclusively in Ontario and a track record of delivering a compounded annual return (dividend and unit price appreciation) in excess of 15 percent over the past decade. The yield remains close to 8 percent.

Steady as she goes...

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Advancing an underexplored area of the Yukon with the same geology as B.C’.s Golden Triangle