SIR Royalty Income Fund (TSE:SRV.UN) Stock Passes Above 50-Day Moving Average – Here’s What Happened

SIR Royalty Income Fund (TSE:SRV.UN)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$15.01 and traded as high as C$16.00. SIR Royalty Income Fund shares last traded at C$15.75, with a volume of 2,006 shares traded.

SIR Royalty Income Fund Stock Down 0.3%

The stock has a fifty day moving average price of C$15.01 and a 200-day moving average price of C$14.71. The firm has a market cap of C$131.92 million, a price-to-earnings ratio of 16.76 and a beta of -0.03.

SIR Royalty Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 27th will be given a dividend of $0.105 per share. This represents a c) dividend on an annualized basis and a yield of 8.0%. The ex-dividend date is Friday, February 20th. This is an increase from SIR Royalty Income Fund’s previous monthly dividend of $0.10. SIR Royalty Income Fund’s payout ratio is currently 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.