Keg Royalties Fund Declares November Cash Distribution
Keg Royalties Income Fund Announces Cash Distribution
The Keg Royalties Income Fund (TSX: KEG.UN) is excited to share that it has declared a cash distribution for November. This distribution amounts to $0.0946 per unit and is intended for unitholders of record. The payment will be made on a specified date that is fast approaching.
Understanding the Fund's Structure
This fund operates as a limited purpose, open-ended trust, crafted under the laws of Ontario. Through its subsidiary, The Keg Rights Limited Partnership, the Fund owns various trademarks and intellectual property utilized by Keg Restaurants Ltd. (KRL). In return for using these valuable trademarks, KRL compensates the Fund with a royalty that constitutes 4% of gross sales from Keg restaurants that are part of the royalty pool.
Keg Restaurants Ltd.: A Leading Franchise
Based in Vancouver, Keg Restaurants Ltd. boasts approximately 10,000 employees and operates over 100 restaurants. The company generates annual system sales exceeding $700 million, making it a formidable entity in the restaurant industry. KRL stands out as the leading operator and franchisor of steakhouse restaurants in Canada and has made notable inroads into select regional markets across the United States.
Expanding the Keg Brand
The Keg restaurant system continues to grow, with KRL actively adding more corporate and franchised Keg steakhouses to its roster. This expansion reflects the company's strategy to bolster its presence in the market while ensuring the high standards associated with The Keg brand are maintained.
A Great Place to Work
Keg Restaurants Ltd. has recently gained recognition in the Forbes survey of "Canada's Best Employers 2024", where it was named the number one restaurant company to work for. Achieving thirteenth place among all industries in Canada showcases the company's commitment to employee satisfaction and a positive workplace culture.
Future Prospects for the Fund
The Keg Royalties Income Fund is poised for continued success. As KRL expands its restaurant network and enhances its brand visibility, the Fund is well positioned to benefit from increased royalty revenues. This growth will provide unitholders with continuous returns, reinforcing the Fund's stability in a dynamic market.
Frequently Asked Questions
What is the cash distribution for November 2024?
The Fund has declared a cash distribution of $0.0946 per unit for November 2024.
When will the distribution be paid?
The distribution will be paid to unitholders on November 29, 2024.
What is the royalty payment structure?
Keg Restaurants Ltd. pays the Fund a royalty of 4% of gross sales from Keg restaurants in the royalty pool.
How many employees does Keg Restaurants Ltd. have?
Keg Restaurants Ltd. employs approximately 10,000 individuals across its operations.
What recent recognition has Keg Restaurants Ltd. received?
KRL was named the number one restaurant company to work for in Canada by Forbes in the "Canada's Best Employers 2024" survey.
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