Business News • MarketWire • Boston Pizza Royalties Income Fund Announces May 2011 Distribution |
Boston Pizza Royalties Income Fund Announces May 2011 Distribution |
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Boston Pizza Royalties Income Fund Announces May 2011 Distribution
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2011) - Boston Pizza Royalties Income Fund (the "Fund") (TSX:BPF.UN) announced today a cash distribution to unitholders of 8.4 cents per unit for May 2011. The distribution will be payable to unitholders of record at the close of business on June 21, 2011 and will be paid on June 30, 2011. The distribution of 8.4 cents per unit is approximately equal to the distribution of 11.5 cents per unit that the Fund declared each month in 2010 less the rate of the specified investment flow-through tax ("SIFT Tax") that the Fund is liable to pay from and after January 1, 2011. The SIFT Tax also recharacterizes such distributions as eligible dividends received from a taxable Canadian corporation. Eligible dividend treatment for distributions to unitholders will generally be beneficial to Canadian resident investors holding their units of the Fund in taxable accounts compared to the previous characterization primarily as other income. The Fund periodically reviews distribution levels based on its policy of stable and sustainable distribution flow to unitholders.
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