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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Post by flamingogoldon Mar 14, 2024 11:39am

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Post# 35932784

Fair distribution at 8.25%

The Keg is 7.45% and for the first time in awhile SRV's distribution rate is above. While this was historcial the norm pre-covid, imo SRV is in stronger shape today. Their menu offerings, food quality, service, mobile app launch and the successful transition of the weaker brand (Canyon Creek) to one experiencing faster growth (Scaddabush) have all contributed to the turnaround.

I visited Don Mills Scaddabush on the opening weekend and it was full. Trading volumes today are light so there is no mass exodus going on. A little selling (or buying) can easily move the price.

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