Business
Pizza Pizza Royalty Income Fund Announces First Distribution
Pizza Pizza Royalty Income Fund Announces First Distribution.
About this update from Pizza Pizza Royalty Corp.
[{"type":"text","content":"\n\n\n\n\nTORONTO, July 20 /CNW/ - Pizza Pizza Royalty Income Fund (the \"Fund\")\n(TSX: PZA.UN) announced today in accordance with the Prospectus dated \nJune 24, 2005 a cash distribution of $0.0559 per unit for the period from \nJuly 6, 2005 to July 31, 2005. The distribution will be payable to unitholders\nof record at the close of business on July 29, 2005 and will be paid on \nAugust 15, 2005. This is the Fund's first distribution for the Fund, and\nreflects only a 26 day period from the closing of its initial public offering.\nThe Fund is an open-ended trust established under the laws of Ontario.\nThe Fund will make monthly distributions of its available cash to holders of\nunits. The Fund indirectly owns the trade marks, trade names and other\nintellectual property used in connection with the Pizza Pizza(R) restaurants\nin Canada, and has licensed these rights to Pizza Pizza Limited in\nconsideration for a royalty equal to 6% of system sales.\nPizza Pizza Limited is a privately owned corporation, headquartered in\nToronto, Ontario. It is \"Ontario's No. 1 Pizza\" and operates 500 restaurants,\nincluding 340 traditional restaurants and 160 non-traditional restaurants, the\nmajority of which are owned and operated by franchisees, under the brand name\nPizza Pizza(R). Pizza Pizza Limited operates primarily in Ontario, where it\nhas the leading market share in the pizza quick services segment of the food\nindustry.\n%SEDAR: 00022262EF\n\n\n","length":1519,"tagName":"div"}]