TORONTO, Feb. 17, 2022 /CNW/ - Pizza Pizza Royalty
Corp. (the "Company") (TSX: PZA) today announced an 8.3%
increase to its monthly dividend. Beginning with February 2022, the dividend will increase to
$0.065 per share from $0.06 per share. Annualized, the dividend will
increase to $0.78 from $0.72 per share. The dividend will be payable to
shareholders of record at the close of business February 28, 2022, and will be paid on
March 15, 2022.
The Company's dividend policy is to distribute all available
cash in order to maximize returns to shareholders over time, after
allowing for reasonable reserves. Despite seasonal variations
inherent to the restaurant industry, the Company's policy is to
make equal dividend payments to shareholders on a monthly basis in
order to smooth out income to shareholders.
With government-mandated pandemic restrictions scheduled to ease
in most provinces in the near future, the Company will continue
closely monitor sales and royalty income to determine when
additional dividend adjustments may be warranted.
For tax purposes, the 2022 dividend will be considered a taxable
eligible dividend.
The Company also announced that its financial results for the
fourth quarter ended December 31,
2021 will be issued after markets close on Wednesday, March 2, 2022.
The Company invites analysts and portfolio managers to
participate in a conference call with Paul
Goddard, Chief Executive Officer, and Christine D'Sylva,
Chief Financial Officer. The call will take place on Wednesday, March 2, 2022 at 5:30 p.m. Shareholders and media are invited to
listen to the call.
Details of the Conference Call:
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Date:
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Wednesday, March 2,
2022
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Time:
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5:30 p.m.
ET
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Call-in
number:
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416-764-8650 /
888-664-6383
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Recording call in number:
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416-764-8677 /
888-390-0541
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Available until
midnight, March 16, 2022
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|
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Conference
ID:
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762293
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SOURCE Pizza Pizza Royalty Corp.