Hello everybody hope you are all doing excellent. Today I received a raise from one of the stocks that I own.
Pizza Pizza Royalty Corp. owns the trademarks and trade names used by Pizza Pizza Limited (PPL) in its Pizza Pizza and Pizza 73 restaurants. PPL operates its Pizza Pizza Restaurants as franchise oriented restaurants and Pizza 73 Restaurants are owned, and operated as independent businesses. It operates through receipt of royalty income from the ownership of the Pizza Pizza and Pizza 73 Rights and Marks segment. Pizza Pizza is a franchise-oriented restaurant business operating in the province of Ontario in which it dominates the pizza quick service restaurant (QSR) segment. Pizza Pizza Restaurants operate in Ontario, Quebec, Saskatchewan, Manitoba and Nova Scotia. There are approximately 100 Pizza 73 locations operating in the QSR segment, in the province of Alberta. Pizza 73 has over five traditional locations outside of Alberta; approximately three in Saskatchewan, and over two in British Columbia. The Pizza 73 business also includes over two central food distribution centers.
(Source Google Finance)
Today Pizza Pizza Royalty Corp. announced a 2.4% increase to their dividend to $0.0713 from $0.0697. I currently own 235 shares of the company and this is the third increase I have received. The increase is payable on July 15, 2016 to shareholders of record on June 30, 2016. The increase increases my income by $2.22 for the remainder of this year.
Congrats to my fellow shareholders on the raise we received 🙂