Boston Pizza Royalties Income Fund BPZZF

Primary Symbol: T.BPF.UN

Consumer Cyclical Restaurants

Boston Pizza Royalties Income Fund (the Fund) is a Canada-based open-ended trust. The Fund operates through its subsidiaries, Boston Pizza Holdings Trust, Boston Pizza Holdings GP Inc. and Boston Pizza Holdings Limited Partnership, its 80% owned subsidiary Boston Pizza GP Inc. (BPGP), and its interest in Boston Pizza Royalties Limited Partnership. BPGP is the managing general partner of Royalties LP. The Fund indirectly, through Royalties LP, acquire the trademarks and trade names owned by Boston Pizza International Inc. (BPI), including 'Boston Pizza' and other similar related items, logos and designs (collectively, the 'BP Rights') used in connection with the operation of Boston Pizza restaurants in Canada. The Company operates approximately 372 Boston Pizza Restaurants in the Royalty Pool, of which approximately 370 were operating and open for business to the public.

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Boston Pizza Royalties Income Fund > Q4 results just released

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Post by HermannHalleron Feb 10, 2021 9:30am

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Q4 results just released

Nothing too surprsing. Obviously Q4 was weak due to the lockdowns. I was pleasantly surprised to see the payout ratio at 78%, despite the low sales level. This suggests to me that they have ample room to raise the dividend once all the restaurants are reopened (summer?).

Pre-pandemic the stock was over $14. That's the upside as things normailize over the course of 2021.

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