Boston Pizza Royalties Income Fund Announces February 2009 Distribution
3/11/2009 12:00:00 PM
For Immediate Release Toronto Stock Exchange: BPF.UN
BOSTON PIZZA ROYALTIES INCOME FUND ANNOUNCES FEBRUARY 2009 DISTRIBUTION
VANCOUVER, BC, March 11, 2009 - Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN) announced today a cash distribution of 11.5 cents per unit for the period from February 1, 2009 to February 28, 2009. The distribution will be paid to unitholders of record at the close of business on March 21, 2009 and will be payable on March 31, 2009.
Same Store Sales Growth ("SSSG") for the period January 1, 2009 through February 28, 2009 ("Year-to-date") was 5.8%, compared to the same period last year. Year-to-date SSSG was positively impacted by a successful national menu promotion which ran in all locations during January 2009. There was no comparable promotional event during the same period one year ago. SSSG is based on gross sales, including approved national promotions and discounts, of Boston Pizza restaurants that have been opened for a minimum of 24 months. Franchise sales, the basis upon which royalties are paid to the Fund, exclude revenue from the sale of liquor, beer, wine and tobacco and approved national promotions and discounts. On a franchise sales basis, SSSG for the Year-to-date was 2.0%, compared to the same period last year.
Going forward, the Fund will follow established industry disclosure practices by publishing SSSG only on a quarterly and annual basis.
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 sales of its 323 Boston Pizza restaurants in the royalty pool as at March 11, 2009.
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. 2009