SIR Royalty Income Fund (TSE:SRV.UN) Announces Dividend Increase - $0.10 Per Share

SIR Royalty Income Fund (TSE:SRV.UN - Get Free Report) declared a monthly dividend on Friday, July 18th, TickerTech Dividends reports. Shareholders of record on Thursday, July 31st will be given a dividend of 0.10 per share on Thursday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.20%. The ex-dividend date of this dividend is Friday, July 18th. This is a 5.3% increase from SIR Royalty Income Fund's previous monthly dividend of $0.10.

SIR Royalty Income Fund Stock Performance

Shares of SIR Royalty Income Fund stock traded down C$0.15 during trading on Friday, hitting C$14.64. 3,292 shares of the company's stock were exchanged, compared to its average volume of 4,874. The business has a 50-day simple moving average of C$13.48 and a 200-day simple moving average of C$12.98. SIR Royalty Income Fund has a 52-week low of C$11.11 and a 52-week high of C$14.88. The stock has a market capitalization of C$122.68 million, a price-to-earnings ratio of 6.42 and a beta of 2.51.

Insiders Place Their Bets

In other news, insider Lembit Janes sold 10,000 shares of SIR Royalty Income Fund stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of C$12.82, for a total value of C$128,200.00. Insiders have sold a total of 28,700 shares of company stock valued at $376,015 over the last three months. 28.33% of the stock is currently owned by insiders.

About SIR Royalty Income Fund

SIR Royalty Income Fund, through SIR Royalty Limited Partnership, owns SIR's restaurants in Canada. The company operates concept restaurants under the Jack Astor's Bar and Grill, Scaddabush Italian Kitchen & Bar, and Canyon Creek Chop House; and signature restaurant brands under the Reds Wine Tavern, Reds Midtown Tavern, Reds Square One, and The Loose Moose brands.