MISSISSAUGA, ON, April 18 /CNW/ - Second Cup Royalty Income Fund has announced that its Board of Trustees has approved a cash distribution of $0.0940 per unit for the month of March, 2008 to be paid on April 30, 2008 to unitholders of record at the close of business on April 29, 2008.
In addition, the Fund also announced that same cafe sales growth for cafes in the Royalty Pool was 1.4% for the period January 1, 2008 through March 31, 2008. This represents the thirteenth consecutive quarter of positive same cafe sales growth since the inception of the Fund in December 2004. While sales were positively impacted by the additional day in February as a result of the leap year, offsetting this was the negative impact of the inclement weather experienced in the first few months of the year and a shift in the Easter holiday to the first quarter in 2008 from the second quarter in 2007.
The Fund is an open-ended trust established under the laws of the Province of Ontario. It holds, through an indirect wholly-owned limited partnership, the Canadian trade-marks and other intellectual property and associated rights used by The Second Cup Ltd. ("Second Cup") in connection with the operation of Second Cup cafes in Canada. For more information on the Second Cup Royalty Income Fund please visit www.secondcupincomefund.com.
Second Cup is Canada's largest specialty coffee cafe franchisor and second largest retailer of specialty coffee, as measured by number of cafes. For further information on Second Cup, visit www.secondcup.com.
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