The Keg Royalties Income Fund Declares October Distribution
Keg Royalties Income Fund Announces October Cash Distribution
The Keg Royalties Income Fund (TSX: KEG.UN) has officially announced its cash distribution for October, which amounts to $0.0946 per unit. Unitholders can expect this distribution to be payable on October 31.
Understanding the Fund and Operations
This fund is not just a typical financial vehicle. It is structured as a limited purpose, open-ended trust, and operates under the provincial laws of Ontario. The Keg Royalties Income Fund owns several trademarks and intellectual properties used by Keg Restaurants Ltd. (KRL) through its subsidiary, The Keg Rights Limited Partnership. KRL pays a royalty of 4% of its gross sales for the licensing of these trademarks, enhancing the fund's sustainability and income generation.
Growth of Keg Restaurants
Operating out of Vancouver, KRL boasts a workforce of approximately 10,000 across more than 100 restaurants, contributing to annual system sales that exceed $700 million. As a leading operator and franchisor of steakhouse restaurants in Canada, KRL is expanding its horizons and incorporating both corporate and franchised Keg steakhouses into its operational model. This strategic growth reinforces its position in key markets, including certain regional areas of the United States.
Recognition by Forbes
KRL's operational success is not just reflected in its sales figures but also in its workplace culture. The company was recognized as the number one restaurant company to work for in Canada, as per the latest Forbes "Canada's Best Employers 2024" survey. This accolade placed KRL thirteenth overall among all industries, showcasing its commitment to fostering an exceptional work environment.
Conclusion
The ongoing success of The Keg Royalties Income Fund hinges on its effective operational structure and the growing footprint of Keg Restaurants Ltd. As it prepares for the upcoming distribution, unitholders can feel confident in the fund's financial health and long-term prospects, buoyed by the strong performance of KRL.
Frequently Asked Questions
What is the October distribution amount for the Keg Royalties Income Fund?
The distribution amount for October 2024 is $0.0946 per unit.
When is the distribution payable?
Unitholders can expect the distribution to be paid on October 31, 2024.
What does KRL pay to the fund?
KRL pays a royalty of 4% of its gross sales to The Keg Royalties Income Fund for the use of its trademarks.
How many employees does KRL have?
KRL employs approximately 10,000 staff members nationwide.
What recognition has KRL received recently?
KRL was named the number one restaurant company to work for in Canada in the Forbes "Canada's Best Employers 2024" survey.
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