SIR Royalty Income Fund (TSE:SRV.UN) Hits New 12-Month High – What’s Next?

SIR Royalty Income Fund (TSE:SRV.UN)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$16.15 and last traded at C$15.96, with a volume of 4155 shares traded. The stock had previously closed at C$15.92.

SIR Royalty Income Fund Price Performance

The company has a fifty day simple moving average of C$15.08 and a two-hundred day simple moving average of C$14.73. The company has a market capitalization of C$133.68 million, a P/E ratio of 16.98 and a beta of -0.03.

SIR Royalty Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 27th will be issued a $0.105 dividend. This is an increase from SIR Royalty Income Fund’s previous monthly dividend of $0.10. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 7.9%. SIR Royalty Income Fund’s dividend payout ratio is presently 122.87%.

About SIR Royalty Income Fund

SIR Royalty Income Fund (The fund) holds an investment in SIR (Service Inspired Restaurant) Corp. The company is a privately held corporation that owns and operates a diverse portfolio of restaurants in Canada. It has concept restaurant brands, including Jack Astor’s Bar and Grill and Canyon Creek Chop House, Scaddabush/Alice Fazooli’s and signature restaurant brands. The fund receives distribution income from its investment in the Partnership and interest income from the SIR Loan. It generates revenue through the license and royalty agreement from its investments in partnership.