Below are some of the commonly asked questions about The Fund.

What are the distributions of the Fund?

Recent distributions have been $0.065 per unit per month. Monthly distributions recommenced with the September 2020 distributions in the amount of $0.065 per unit, compared to the monthly distributions of $0.102 per unit that existed prior to the Fund temporarily suspending distributions on March 23, 2020 due to the effects of COVID-19 on the business of Boston Pizza restaurants across Canada, and the corresponding decline in Royalty and Distribution Income payable to the Fund. On December 16, 2020, the trustees of the Fund declared a one-time special cash distribution of $0.20 per unit (the “Special Distribution”). The declaration of the Special Distribution was a departure from the Fund’s historical distribution practices and is not expected to become a regular practice in future years. However, the trustees believe that declaring the Special Distribution on December 16, 2020 was a prudent approach to deal with the challenges presented in 2020 by the ongoing COVID-19 pandemic. See the Fund’s press releases dated October 1, 2020 and December 16, 2020 for further details. 

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When are the distributions paid?

Boston Pizza Royalties Income Fund pays unitholders a monthly distribution. The distributions are paid on the last business day of each month. See the Distribution History Table under the Stock section of this website for a historical record of distributions.

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When did the distributions start?

The first distribution of 4.20¢ per unit for the 15-day period from July 17, 2002 to July 31, 2002 was paid on August 30, 2002. The first monthly distribution of 8.33¢ per unit was paid September 30, 2002.

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What is the tax treatment of the distributions?

The following table provides a history of the distribution breakdown:

Year Tax Deferred Return of Capital Taxable
2018 22.17% 77.83%
2017 21.93% 78.07%
2016 22.98% 77.02%
2015 16.35% 83.65%
2014 4.21% 95.79%
2013 6.27% 93.73%
2012 5.66% 94.34%
2011 1.34% 98.66%
2010 4.50% 95.50%
2009 8.00% 92.00%
2008 11.00% 89.00%
2007 11.90% 88.10%
2006 16.40% 83.60%
2005 19.40% 80.60%
2004 22.50% 77.50%
2003 25.20% 74.80%
2002 25.50% 74.50%

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How are distributions to unitholders treated for tax purposes?

Starting with the 2011 taxation year, the taxable component of distributions to unitholders are classified as eligible dividends from a taxable Canadian corporation. Eligible dividend treatment is generally beneficial for Canadian resident investors holding their BPF.UN units in a taxable account compared to the previous classification of ordinary income because of the ability for individuals to claim a dividend tax credit. The tax deferred return of capital component is not immediately taxable, instead it is allocated to reduce the cost base of the investment. Holders of BPF.UN should obtain tax advice from a professional tax advisor regarding the tax implications of purchasing, holding or selling BPF.UN units.

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What exchange are the units of the Boston Pizza Royalties Income Fund traded on?

Units are traded on the Toronto Stock Exchange.

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What is the ticker symbol for the Boston Pizza Royalties Income Fund?


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