A and W to pay special distribution

Published Thursday October 15th, 2009

VANCOUVER, B.C. - A successful launch of the Cheddar Bacon Uncle Burger in July and continuing sales growth at its restaurants across Canada have positioned A&W Revenue Royalties Income Fund (TSX:AW.UN) to pay a special distribution to investors.

The fund, which is paid a percentage of sales at a pool of fast-food restaurants that use its A&W trademarks, said Thursday its income increased to $5.4 million in the quarter ended Sept. 6, up 2.9 per cent from a year earlier.

Same-store sales were up 0.3 per cent in the quarter. For the year to date, same-store sales growth is now 2.5 per cent and year-to-date royalty income is up 4.1 per cent to $14.9 million, the fund said.

The fund said it would pay a special distribution of 10 cents per unit to investors on Nov. 30.

Sales reported by 685 restaurants in the fund's royalty pool had combined sales of $180.2 million, up from $175.2 million in the fiscal third quarter of 2008 when there were nine fewer locations.

The trust declared regular distributions and dividends totalling 31.8 cents per share in the third quarter of both years and no special dividends in those periods.

 

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