Hi everyone I don’t usually write a Saturday post but I have so many things to share with you I thought I better do one this weekend. Today I am going to share with you a dividend increase I received from the Keg Royalties Income Fund. I actually missed the announcement which took place on Nov 2nd. I only noticed it when I received payment on Nov 30th which was a pleasant surprise. Maybe you guys are also investors in the Income Fund and this post will be a surprise to you as well.
So what is The Keg Royalties Income Fund? The fund is a limited purpose open-ended trust established under the laws of the Province of Ontario, through The Keg Rights Limited (KRL) Partnership, a subsidiary of the fund, owns certain trademarks and other related intellectual property used by Keg Restaurants Ltd. In exchange for use of those trademarks, KRL pays the fund a royalty of 4% of gross sales of Keg Restaurants included in the royalty pool.
The Keg has approximately 9,500 employees, over 100 restaurants and annual system sales of approximately $585 million. Vancouver-based KRL is the leading operator and franchiser of steakhouse restaurants in Canada, and also has a substantial presence in the United States.
On Nov 2nd the dividend was raised 3.1% and now pays 9.46 cents per unit up from 9.18 cents. This is the third increase I have received from the fund. I currently own 166 shares and this raise boosts my income by $5.52 per year.
Thanks for reading everyone do you own this stock? If so congrats on the raise. I will have a new post out on Tuesday.
Have a good weekend