A 17th consecutive increase in same store sales growth has prompted A&W Revenue Royalties Income Fund (TSX:AW.UN) to increase its monthly cash distribution.
Same store sales rose 4.6% for A&W restaurants as total sales were up 7.3% to $145.5 million in the second quarter ending June 17, 2007, compared with $135.6 million in the same period last year.
Royalty income to the fund in the second quarter consequently rose to $4.4 million from $4.1 million in the same quarter last year.
As a result, monthly distributions will be increasing 3%, to $0.103 from $0.10, beginning with the July 2007 distribution.
A&W's unit price range during the past week: between $13.56 and $13.65; 52-week high: $18.53; 52-week low: $11.50.