A&W Revenue Royalties Income Fund Announces May 2019 Cash Distribution
VANCOUVER, May 7, 2019
VANCOUVER, May 7, 2019 /CNW/ - A&W Revenue Royalties Income Fund (the Fund) (TSX symbol AW.UN) today declared a cash distribution of 15.4 cents per trust unit for the period April 1 to April 30, 2019. The distribution will be paid to unitholders of record at the close of business on May 15, 2019, and will be payable on May 31, 2019. This distribution will be taxed as a non-eligible dividend, as the source of funds to pay the distribution is a dividend from A&W Trade Marks Inc. (Trade Marks).
A&W Food Services of Canada Inc. (Food Services) will also receive a similar dividend from Trade Marks on its investment in Trade Marks.
Food Services also announced today that it has declared and paid dividends in the amount of $3.8 million to its shareholders. These dividends were paid out of Food Services' available working capital and are separate and distinct from distributions declared by the Fund to unitholders of the Fund.
Launched on February 15, 2002, the Fund, through its investment in Trade Marks, is entitled to receive royalties from Food Services in the amount of 3% of the sales of the 934 A&W restaurants in the Royalty Pool. Cash distributions are paid monthly. A&W is the second largest quick-service hamburger restaurant chain in Canada. Operating coast-to-coast, A&W restaurants feature famous trade-marked menu items such as The Burger Family, Chubby Chicken and A&W Root Beer.
SOURCE A&W Revenue Royalties Income Fund
View original content: http://www.newswire.ca/en/releases/archive/May2019/07/c8412.html
Don Leslie, Chief Financial Officer, 604-988-2141, Email: email@example.com, www.awincomefund.caCopyright CNW Group 2019