Investment Q&A

• A&W Revenue Royalties Income Fund (AW.UN)
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• Boston Pizza Royalties Income Fund (BPF.UN)
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• Exchange Income Corporation (EIF)
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Q: Please dock two questions for this:

1. Would EIF be best held in a TFSA or non-registered account?
2. What would you recommend for a high divdiend paying stock in the consumer space for a non-registered account. Would BPF.UN be a good choice?

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Read Answer Asked by Carla on February 28, 2017

• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: Can you please comment on bpf.un recent earnings and valuation (and recent share drop)

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Read Answer Asked by Douglas on February 16, 2017

• Recipe Unlimited Corporation Subordinate Voting Shares (RECP)
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• A&W Revenue Royalties Income Fund (AW.UN)
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• Boston Pizza Royalties Income Fund (BPF.UN)
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• Pizza Pizza Royalty Corp. (PZA)
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Q: Hi guys,

I have held a position in AW.UN for a long time and it represents about 3% of my portfolio. CIBC's Investors Edge shows 2015 eps at $1.56. If I estimate 2017 eps to be $1.76, that gives A&W a 2017 p/e of 23.4

It seems like Pizza Pizza (PZA), Boston Pizza (BPF.UN) and Cara Operations (CARA) all trade significantly cheaper than A&W on a 2017 p/e basis.

Against this backdrop, would you sell AW.UN for any of PZA, BPF.UN, or CARA?

Lastly, does A&W's corporate structure make itself less likely to be taken over?

Thanks for your time and expertise.

John

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Read Answer Asked by john on February 14, 2017

• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: Does your January12 answer to " John" re BPF.UN AW.UN and PZA imply a negative view of BPF.UN? What growth do you see for it ?

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Read Answer Asked by Robert on January 13, 2017

• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: A recent question on the 3 restaurant royalty stocks about future growth covers your expectations for 2 of the 3 but omits BPF.UN. In your last report Dec. 2015 when the stock was at $17 states "we think BPF looks slightly undervalued but not by a great deal."

Does this imply that BPF at $23 is now fully valued or even overvalued and that holders can expect no further future growth? Thanks, J.

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Read Answer Asked by Jeff on January 13, 2017

• A&W Revenue Royalties Income Fund (AW.UN)
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• Boston Pizza Royalties Income Fund (BPF.UN)
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• Pizza Pizza Royalty Corp. (PZA)
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Q: Canadian restaurant income trusts were marvelous investments last year. A&W was up over 40% in the last year in addition to a healthy dividend. The others were up between 26%-33%. Do you expect this kind of growth to continue in 2017? If not, what would be more reasonable to expect?

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Read Answer Asked by John on January 12, 2017

• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: Hi Peter and Staff
In a response today you indicated a payout ratio of 128 percent.
Can this be correct ? How can they do that!
Thanks for all you do
Denniz

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Read Answer Asked by Dennis on January 06, 2017

• A&W Revenue Royalties Income Fund (AW.UN)
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• Boston Pizza Royalties Income Fund (BPF.UN)
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• Pizza Pizza Royalty Corp. (PZA)
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Q: Please could you rate these 3 similar companies for:-
-Dividend sustainability
-Dividend growth expectations
-Insider ownership
-Debt Levels
-Current outlook for growth

Are any suitable for a full position in a RIF account?

Are any buyable at current prices, and if so which would you favour?

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Read Answer Asked by jane on January 05, 2017

• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: Please provide the "Cash Flow per Share" (TTM) for the above listed companies. I've tried many financial sites but can't find CF/S information for them. Why?

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Read Answer Asked by LARRY on November 28, 2016

• Boston Pizza Royalties Income Fund (BPF.UN)
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• Pizza Pizza Royalty Corp. (PZA)
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Q: Which do you prefer, pza or Boston pizza

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Read Answer Asked by Robert on November 25, 2016

• Boardwalk Real Estate Investment Trust (BEI.UN)
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• Superior Plus Corp. (SPB)
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• Labrador Iron Ore Royalty Corporation (LIF)
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• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: Looking for yield with some growth and would appreciate your opinion of each of these.Would appreciate your ranking in order of preference.

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Read Answer Asked by Peter on November 07, 2016

• Magna International Inc. (MG)
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• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: Hi 5i - I'm up about 20% on BPF.UN (with a 7% yield) - 5% position in my portfolio. I'm contemplating selling and investing the proceeds in MG. Over a 5 year time frame, I would need MG's share price to go up considerably to offset the yield that I would be giving up. Would you make this switch? Thanks, Neil

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Read Answer Asked by Neil on October 27, 2016

• K-Bro Linen Inc. (KBL)
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• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: I manage finances for my 93 year-old mother-in-law (she is demented but fortunately still a nice lady). Her investments are mostly dividend-paying stocks. I do need to raise some capital for her care. I am hesitating between selling shares in K-Bro Linen versus Boston Pizza Royalties IF. I would appreciate your opinion. Thank you.

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Read Answer Asked by jacques on September 28, 2016

• Sylogist Ltd. (SYZ)
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• H&R Real Estate Investment Trust (HR.UN)
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• Toromont Industries Ltd. (TIH)
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• Open Text Corporation (OTEX)
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• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: Good Afternoon,
I am adding several positions to my portfolio. I have narrowed it down by using your reports/comments etc. . Some of the reports are dated, would like to know if you still consider these names a buy at today's level, or any other more favoured names in these sectors. Also wondering if you would recommend staggering purchases or waiting for a market pullback, realizing that some of these names are high.
All would be additions to a diversified portfolio and considered to be long term holds. Thanks for the assistance. Lavern

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Read Answer Asked by Lavern on August 22, 2016

• A&W Revenue Royalties Income Fund (AW.UN)
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• Boston Pizza Royalties Income Fund (BPF.UN)
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• Pizza Pizza Royalty Corp. (PZA)
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Q: I am thinking of diversifying my income portfolio and would appreciate if you could comment on the merits of the above and which one you would recommend.

Thanks

Wayne

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Read Answer Asked by Wayne on July 20, 2016

• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: Any idea what is behind the breakout in Boston Pizza? Thx Scott

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Read Answer Asked by Scott on July 08, 2016

• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: BPF.un. It has up ticked and I am just curious if there is any news?

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Read Answer Asked by James on June 22, 2016

• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: Boston Pizza seems to have stalled lately, is now the time to buy on the current dip in price?

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Read Answer Asked by Helen on June 12, 2016

• A&W Revenue Royalties Income Fund (AW.UN)
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• Boston Pizza Royalties Income Fund (BPF.UN)
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• Pizza Pizza Royalty Corp. (PZA)
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Q: I am trying to decide on one of three stocks for income and a bit of growth. How would you rank Boston Pizza (bpf.un), A & W (aw.un), and Pizza, Pizza (pza)?

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Read Answer Asked by Lloyd on May 30, 2016

• Boston Pizza Royalties Income Fund (BPF.UN)
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Q: What do you make of the bizarre trading range since March?

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Read Answer Asked by john on May 24, 2016