A&W Revenue Royalties Income Fund reports Q3 profit up, raises distributions By David E. Sarto
A&W Revenue Royalties Income Fund (the “Fund”), (the “Company” or “A&W”) today reported its third quarter of fiscal 2014 financial results. The following is a summary of the results.
The Fund generated a net income for the third quarter of $1.01 per share and a net loss per share for the fourth quarter of $0.02 per share, compared to a net income of $0.84 and a loss per share for the third quarter of $0.49, respectively, for the year earlier. Net asset values decreased, as noted in the table below.
For the third quarter, the Fund had $3.14 billion in assets compared to $6.75 billion for the year earlier.
The Fund’s quarterly profit from its cash holdings rose substantially to 15 cents from 1 cent. The Fund paid out $22.5 million in distribution for the quarter and $17.8 million in the fourth quarter, as compared to $13.8 million in the third quarter and $5.7 million in the year earlier.
On the year for the third quarter of 2014, the Fund had $17.3 billion in assets and $1.6 billion in investment assets.
On the year for the fourth quarter of 2014, the Fund had $1.9 billion in assets and $1.3 billion in investment assets.
The Fund reported the following quarterly distribution amounts:
For the quarter, the distribution was $0.15 per share and $0.17 per share for the fourth quarter, compared to $0.10 per share and $0.15 per share for the third quarter.
For the year, the distribution was $29.7 million, $16.8 million and $7.9 million for the first, second and third quarters of 2014, respectively, compared to $12.6