Boston Pizza announces February fund distribution.
VANCOUVER, British Columbia -- Same-store sales at Canadian pizza chain Boston Pizza grew 5.8 percent for the period from Jan. 1 through Feb. 28, the company has announced. Results were positively impacted by a successful national menu promotion, which ran in all locations, company officials said.
On a franchise sales basis, same-store sales growth for the period was 2 percent compared with the same period last year. Franchise sales exclude revenue from the sale of liquor, beer, wine and tobacco and approved national promotions and discounts.
The Boston Pizza Royalties Income Fund will pay a cash distribution of 11.5 cents per share for the period to shareholders of record as of the close of business on March 21. The distribution will be payable on March 31.
The fund is a limited purpose, open-ended trust established under the laws of British Columbia to acquire indirectly certain trademarks and trade names used by Boston Pizza International Inc. in its Boston Pizza restaurants in Canada. The trademarks are licensed to BPI for 99 years for which BPI pays the fund 4 percent of franchise sales of its 323 Boston Pizza restaurants in the royalty pool as of March 11.