By Canadian Press

A&W fund boosts cash payout as earnings rise and same store sales grow

Jul 24, 2019 | 9:44 AM

VANCOUVER — A&W Revenue Royalties Income Fund has boosted its monthly distribution after a quarter of improved earnings from same-store sales growth and added stores.

The Vancouver-based fund says it will boost its monthly cash distribution from 15.4 cents to 15.9 cents starting with the July distribution.

It says it made $7.55 million in the quarter ending June 16, up from $7.08 million for the same quarter last year.

Analysts had expected earnings of $7.93 million according to the financial markets data firm Refinitiv.

The fund says it had same store sales growth of 10.3 per cent in the quarter, compared with 6.6 per cent in same store growth last year.

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Gross sales came in at $351.85 million from 934 stores, compared with $305.13 million from its 896 stores last year.

Companies in this story: (TSX:AW.UN)

The Canadian Press