BURLINGTON, ON, July 12, 2022 /CNW/ - SIR Royalty Income Fund (TSX: SRV.UN) ("the Fund") today declared a cash distribution of $0.09 per unit for the period June 1, 2022 to June 30, 2022 (the "July Distribution"). The Fund also declared a special cash distribution of $0.135 per unit (the "Special Distribution").The July Distribution and the Special Distribution will be payable on July 29, 2022 to unitholders of record as at the close of business on July 21, 2022.
As of June 15, 2022, SIR Corp. has fully repaid all previously deferred royalties and interest owed. As a result of these repayments the Fund has excess cash available to distribute to the unitholders. The Trustees believe the Special Distribution to be paid on July 29, 2022 is prudent and appropriate.
About SIR Royalty Income Fund
The Fund is a trust governed by the laws of the province of Ontario that receives distribution income from its investment in the SIR Royalty Limited Partnership and interest income from the SIR Loan. The Fund intends to pay distributions to unitholders on a monthly basis.
About SIR Corp.
SIR Corp. ("SIR") is a privately held Canadian corporation that owns a portfolio of 52 restaurants in Canada. SIR's Concept brands include Jack Astor's Bar and Grill®, with 37 locations, and Scaddabush Italian Kitchen & Bar®, with nine locations. SIR also operates one-of-a-kind "Signature" brands including Reds® Wine Tavern, Reds® Square One, Reds® Kitchen + Wine Bar Fallsview and The Loose Moose®. All trademarks related to the Concept and Signature brands noted above are used by SIR under a License and Royalty Agreement with SIR Royalty Limited Partnership. SIR also owns one Duke's Refresher® & Bar location in downtown Toronto, and one seasonal Signature restaurant, Abbey's Bakehouse®, which are currently not in consideration to be part of the Royalty Pool. For more information on SIR Corp. or the SIR Royalty Income Fund, please visit www.sircorp.com.
SOURCE SIR Royalty Income Fund
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