Sir Royalty Income Fund SIRZF

Primary Symbol: T.SRV.UN

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 > Holding above $13

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Post by BlueJay2020on Nov 16, 2021 4:45pm

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Post# 34133744

Holding above $13

So we have reached the $13 level that I predicted was entirely possible, albeit a fair bit quicker than I had expected. Trading volumes are surprisingly high - I can only think it is profit-taking by those sitting on large gains, but easily replaced by new money that will have a much higher cost base - I like that!

The dividend is still just shy of 8 per cent and a 7 per cent rate would imply a value of circa $15.50. I think that's entirely possible by early 2022, and possibly a special distribution on top.

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