Business
Pizza Pizza Royalty Income Fund Announces June Distribution
Pizza Pizza Royalty Income Fund Announces June Distribution.
About this update from Pizza Pizza Royalty Corp.
[{"type":"text","content":"\n\n\n\nTORONTO, June 19 /CNW/ - Pizza Pizza Royalty Income Fund (the "Fund")\n(TSX: PZA.UN) today announced a cash distribution of $0.073 per unit for the\nmonth of June, 2007. The distribution will be payable to unitholders of record\nat the close of business on June 29, 2007, and will be paid on July 13, 2007.\n\n\nAbout the Fund, a publicly-traded entity\n\n\nThe Fund is a limited purpose, open-ended trust established under the\nlaws of Ontario to indirectly acquire the trademarks and trade names used by\nPizza Pizza in its restaurants. The trademarks were licensed to Pizza Pizza in\n2005 for 99 years, for which Pizza Pizza pays the Fund a royalty equal to 6%\nof the system sales of its Pizza Pizza restaurants in the Royalty Pool. As of\nJanuary 1, 2007, there were 531 Pizza Pizza restaurants in the Royalty Pool.\n\n\nA key attribute of the Fund's structure is the fact that it is a\n"top-line" fund. Royalty income of the Fund is based on top-line system sales\nof the royalty pool restaurants and is not determined by the profitability of\neither Pizza Pizza or the Pizza Pizza restaurants in the royalty pool. Given\nthis structure, the success of the Fund depends primarily on the ability of\nPizza Pizza to maintain and increase system sales of the royalty pool.\n\n\nThe Fund's trust units are listed on the Toronto Stock Exchange under the\nsymbol PZA.UN.\n\n\nAbout Pizza Pizza Limited, the privately-owned operating company\n\n\nPizza Pizza Limited, a privately-held Canadian corporation, is one of\nCanada's most successful operators in the quick service restaurant industry\nand is celebrating its 40th anniversary this year. Founded in 1967, Pizza\nPizza is guided by a mission to provide the "best food, made especially for\nyou" and a focus on quality ingredients, customer service, community\ncontribution and continual innovation.\n\n\n%SEDAR: 00022262EF\n\n\n","length":1974,"tagName":"div"}]