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Boston Pizza reports $5.2M Q4 profit, raises monthly distributions

VANCOUVER — Boston Pizza Royalties Income Fund raised its monthly payment to unitholders as it reported a fourth-quarter profit of $5.2 million.

The fund says it will now pay a monthly distribution of 11.3 cents per unit, up from 10.7 cents per unit.

The increased payment came as Boston Pizza says it earned 24 cents per diluted unit for the quarter ended Dec. 31, down from $6.4 million or 26 cents per diluted unit a year earlier.

Revenue totalled $12.1 million for the quarter, about the same as a year earlier.

Franchise sales by restaurants included in the fund's royalty pool totalled $227.7 million, up from $227.2 million a year earlier.

Same restaurant sales were up 0.6 per cent for the quarter.

This report by The Canadian Press was first published Feb. 14, 2024.

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

The Canadian Press