Boston Pizza Royalties Income Fund Announces June 2006 Distribution
7/7/2006 12:00:00 PM
For Immediate Release Toronto Stock Exchange: BPF.UN
BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES JUNE 2006 DISTRIBUTION
VANCOUVER, BC, July 7, 2006 - Boston Pizza Royalties Income Fund (the “Fund”) (TSX: BPF.UN) announced today a cash distribution of $0.105 per unit for the period from June 1, 2006 to June 30, 2006. The distribution will be paid to unitholders of record at the close of business on July 21, 2006 and will be payable on July 31, 2006.
Same Store Sales Growth for the period January 1, 2006 through May 31, 2006 was 10.9%, compared to the same period last year.
Royalties paid to the Fund will be adjusted annually to include the franchise revenues of the new Boston Pizza restaurants opened prior to December 31 of each year. Since January 1, 2006, 17 new full-service restaurants have opened, bringing the total number of restaurants open in Canada as of July 7, 2006 to 243.
The Fund is a limited purpose, open-ended trust established under the laws of British Columbia to acquire indirectly certain trade marks and trade names used by Boston Pizza International Inc. (“BPI”) in its Boston Pizza restaurants in Canada. The trade marks are licensed to BPI for 99 years for which BPI pays the Fund 4% of franchise revenues of its 226 Boston Pizza restaurants in Canada as at December 31, 2005.
The trustees of the Fund have approved the contents of this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Boston Pizza Royalties Income Fund
Jordan Holm - Vice President of Investor Relations
® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trade-marks and unregistered Canadian trade-marks containing the words "Boston", "BP", and/or "Pizza" are trade-marks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.
© Boston Pizza International Inc. 2006