VANCOUVER, BC, May 7, 2024
/CNW/ - A&W Revenue Royalties Income Fund (the Fund)
(TRADING SYMBOL: TSX: AW.UN) today declared a cash
distribution of 16.0 cents per trust
unit for the period April 1 to April
30, 2024. The distribution will be paid to unitholders
of record at the close of business May 15,
2024 and will be payable on May 31,
2024. 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 a
dividend in the amount of $1.0
million to its shareholder. The dividend will be paid
out of Food Services' available working capital and is 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 1,047 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®.
www.awincomefund.ca
SOURCE A&W Revenue Royalties Income Fund