A&W Revenue Royalties Income Fund reports Q3 profit up, raises distributions

By iNFOTEL
October 19 2022 05:35 AM

VANCOUVER – A&W Revenue Royalties Income Fund has raised its monthly payment to unitholders as it reported its third-quarter profit and royalty income rose compared with a year ago.

The hamburger chain says it will now pay a monthly distribution of 16 cents per unit, up from 15.5 cents per unit, starting with its October distribution that is payable Nov. 30.

The increase comes as A&W reported net income of $9.6 million for the quarter ended Sept. 11, up from a profit of $8.9 million in the same quarter a year earlier.

Royalty income rose to $13.2 million for the quarter, up from $12.3 million in the same quarter last year.

Gross sales reported by A&W restaurants in the royalty pool totalled $440 million, up from $409.5 million a year earlier.

Royalty pool same-store sales growth was 4.0 per cent for the quarter.

This report by The Canadian Press was first published Oct. 19, 2022.

Companies in this story: (TSX: AW.UN)