Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Keg Royalties sees stronger Q2 sales at its steak restaurants
VANCOUVER – The Keg Royalties Income Fund (TSX:KEG.UN) says that the restaurants in its group had a 9.6 per cent increase in sales for the second quarter, reflecting a combination of higher same-store sales and one additional location.
The fund’s royalty income for the three months ended June 30 was $5.04 million, up from $4.7 million a year earlier.
The royalties are based on a percentage of sales at Keg steak restaurants in Canada and the United States.
In the latest quarter, there were 103 restaurants in the royalty pool representing $125.4 million of sales, up $10.97 million from a year earlier when there were 102 locations in the pool.
Distributions paid to holders of the fund’s units were unchanged at $2.725 million or 24 cents per unit, or about 98.9 per cent of the cash available for distribution.
Keg Royalty units closed Monday at $16.24 on the Toronto Stock Exchange.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
