Stock Name: SRV.UN
Amount: CAD 0.083
Announcement Date: 08/05/2012
Record Date: 15/05/2012
Dividend Detail:
BURLINGTON, ON, May 8, 2012 /CNW/ - SIR Royalty Income Fund (TSX:
SRV.UN) ("the Fund") today declared a cash distribution of $0.083 per
trust unit for the period April 1, 2012 to April 30, 2012. The
distribution will be payable on May 31, 2012 to unitholders of record
at the close of business on May 17, 2012.
The cash distribution of $0.083 per trust unit reflects the obligation
of the Fund to make tax payments as a result of certain legislative
changes to the tax treatment of income trusts, commonly referred to as
Specified Investment Flow Through Tax ("SIFT Tax"), effective January
1, 2011.�� As announced in August 2010, the Fund continues to operate as
an income trust.
About SIR Corp.
SIR is a privately held Canadian corporation that owns and operates a
portfolio of 46 restaurants in Canada. SIR's Concept brands include:
Jack Astor's Bar and Grill��, with 31 locations; Alice Fazooli's!��, with
four locations; and Canyon Creek Chop House��, with eight locations. SIR
also operates one-of-a-kind "Signature" brands in downtown Toronto,
which comprise the upscale reds��, Far Niente��/FOUR��/Petit Four���, and
the Loose Moose Tap & Grill��. All trademarks related to the Concept and
Signature brands noted above are used by SIR under a license agreement
with SIR Royalty Limited Partnership in consideration for a Royalty,
payable by SIR to the Partnership, equal to six percent of the revenue
of the 47 restaurants currently included in the Royalty pool. For more
information on SIR Corp. or the SIR Royalty Income Fund, please visit www.sircorp.com.
About SIR Royalty Income Fund��
The Fund is a trust governed by the laws of the province of Ontario that
receives distribution income from its investment in the SIR Royalty
Limited Partnership and interest income from the SIR Loan. The Fund
intends to pay distributions to unitholders on a monthly basis
Caution concerning forward-looking statements
Certain statements contained in this news release may constitute
"forward-looking" statements which involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Fund to be materially different from
any future results, performance or achievements expressed or implied by
such forward-looking statements.�� When used in this document, such
statements are such words as "may", "will", "expect", "believe",
"plan", "anticipate", "intend", "estimate" and other similar
terminology.�� These statements reflect SIR Management's current
expectations regarding future events and operating performance and
speak only as of the date of this document.�� The Fund and SIR do not
undertake any obligation or undertaking to publicly release any updates
or revisions to any forward-looking statements contained herein to
reflect any change in expectations with regard thereto or any changes
in events, conditions or circumstances on which any statement is based,
except as expressly required by applicable securities laws.��
In formulating the forward-looking statements contained herein,
Management has assumed that business and economic conditions affecting
SIR's restaurants and the Fund will continue substantially in the
ordinary course, including without limitation with respect to general
industry conditions, general levels of economic activity (including in
downtown Toronto), regulations (including those regarding employees,
food safety, tobacco and alcohol), weather, taxes, foreign exchange
rates and interest rates, that there will be no pandemics or other
material outbreaks of disease or safety issues affecting humans or
animals or food products, and that there will be no unplanned material
changes in its facilities, equipment, customer and employee relations,
or credit arrangements. These assumptions, although considered
reasonable by Management at the time of preparation, may prove to be
incorrect.�� For more information concerning the Fund's risks and
uncertainties, please refer to the Fund's periodic interim filings, and/or its March
30, 2012 Annual Information Form.��
All of the forward-looking statements made in this report are qualified
by these cautionary statements and other cautionary statements or
factors contained herein, and there can be no assurance that the actual
results or developments will be realized or, even if substantially
realized, that they will have the expected consequences to, or effects
on, the Fund or SIR. ��
For further information:
Peter Fowler
CEO
SIR Corp.
Tel: 905-681-2997
Lawrence Chamberlain
Investor Relations
Tel: (416) 815-0700 ext. 257
Email:��lchamberlain@equicomgroup.com
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