SIR Royalty Income Fund (TSE:SRV.UN) Reaches New 52-Week High – Here’s Why

SIR Royalty Income Fund (TSE:SRV.UN) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$16.00 and last traded at C$16.00, with a volume of 9733 shares trading hands. The stock had previously closed at C$15.69.

SIR Royalty Income Fund Stock Performance

The company’s fifty day simple moving average is C$14.81 and its two-hundred day simple moving average is C$14.65. The company has a market capitalization of C$134.02 million, a price-to-earnings ratio of 17.02 and a beta of -0.03.

SIR Royalty Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.10 per share. The ex-dividend date was Friday, December 19th. This represents a c) annualized dividend and a yield of 7.5%. 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.