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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 30, 2016) - Boston Pizza Royalties Income Fund (the "Fund") (TSX:BPF.UN) announced today a cash distribution to unitholders of 11.5 cents per unit for March 2016. This is the third monthly distribution to be declared at the rate of 11.5 cents per month since the trustees of the Fund announced a distribution rate increase, which was effective for the January 2016 distribution and paid on February 29, 2016. As announced on February 9, 2016, the Fund has increased the monthly distribution rate by 0.67 cents per unit from the previous monthly rate of 10.83 cents per unit or $1.30 per unit on an annualized basis to 11.5 cents per unit or $1.38 per unit on an annualized basis. This translated to an increase of 6.2% and marked the 18th time that the monthly rate was increased since the inception of the Fund in 2002.
The distribution will be payable to unitholders of record at the close of business on April 21, 2016 and will be paid on April 29, 2016. The Fund periodically reviews distribution levels based on its policy of stable and sustainable distribution flow to unitholders.
The trustees of the Fund have approved the contents of this news release.