Boston Pizza's same-store sales growth hit 6.4% year-over-year, its strongest since 2012, driving robust distributable cash and safer payout ratios. Distribution hikes and improved cash flows have pushed the stock to outperform, with a double-digit total return since my last update. Modeling a 2-3% perpetual distribution growth rate, I see a price target above $30, implying 42% upside from current levels plus a 6.6% yield.
Boston Pizza Royalties Income Fund (OTC:BPZZF) Q2 2025 Earnings Conference Call August 14, 2025 11:30 AM ET Company Participants Jordan Holm - Director & President of Boston Pizza GP Inc. Michael Harbinson - Chief Financial Officer of Boston Pizza International Inc. Conference Call Participants Nick Corcoran - Acumen Capital Finance Partners Limited, Research Division Operator Hello. This is the Chorus Call conference operator.
Casual dining, especially full-service restaurants, saw a surge in traffic due to value deals, outperforming fast-casual spots in early 2024. Boston Pizza's same-store sales grew 4.4% YoY, driven by targeted promotions and value-for-money deals, despite macroeconomic pressures. Distributable cash per unit is CAD$0.344, with a payout ratio over 100%, suggesting slower dividend growth unless same-store sales or new openings increase.
BPZZ BPZZF 2 months ago Paid | Monthly | $0.08 Per Share |
BPZZ BPZZF 3 months ago Paid | Monthly | $0.08 Per Share |
BPZZ BPZZF 4 months ago Paid | Monthly | $0.08 Per Share |
BPZZ BPZZF 5 months ago Paid | Monthly | $0.08 Per Share |
BPZZ BPZZF 6 months ago Paid | Monthly | $0.08 Per Share |
6 Nov 2025 (In 2 months) Date | | 0.33 Cons. EPS | - EPS |
5 Nov 2025 (In 2 months) Date | | - Cons. EPS | - EPS |
14 Aug 2025 Date | | 0.37 Cons. EPS | - EPS |
14 Aug 2025 Date | | 0.37 Cons. EPS | - EPS |
1 Aug 2025 Date | | 0.37 Cons. EPS | - EPS |
BPZZ BPZZF 2 months ago Paid | Monthly | $0.08 Per Share |
BPZZ BPZZF 3 months ago Paid | Monthly | $0.08 Per Share |
BPZZ BPZZF 4 months ago Paid | Monthly | $0.08 Per Share |
BPZZ BPZZF 5 months ago Paid | Monthly | $0.08 Per Share |
BPZZ BPZZF 6 months ago Paid | Monthly | $0.08 Per Share |
6 Nov 2025 (In 2 months) Date | | 0.33 Cons. EPS | - EPS |
5 Nov 2025 (In 2 months) Date | | - Cons. EPS | - EPS |
14 Aug 2025 Date | | 0.37 Cons. EPS | - EPS |
14 Aug 2025 Date | | 0.37 Cons. EPS | - EPS |
1 Aug 2025 Date | | 0.37 Cons. EPS | - EPS |
Restaurants Industry | Consumer Cyclical Sector | - CEO | OTC PINK Exchange | CA1010841015 ISIN |
Canada Country | - Employees | 20 Jun 2025 Last Dividend | - Last Split | - IPO Date |
Boston Pizza Royalties Income Fund operates as a limited purpose open-ended trust, focusing on the ownership of trade-marks utilized by Boston Pizza International Inc. through its indirect partnership, the Boston Pizza Royalties Limited Partnership. Founded in 1964 and based in Richmond, Canada, the company specializes in the operation and expansion of Boston Pizza restaurants, a widespread chain known for its varied menu and welcoming atmosphere. Acting under the umbrella of James Treliving Holdings Ltd, the Boston Pizza Royalties Income Fund embodies a strategic endeavor to capitalize on the brand’s market presence and ensure the continuous growth and operational excellence of Boston Pizza outlets across its locations.
The core offerings of Boston Pizza Royalties Income Fund revolve around the franchising and operational support of Boston Pizza restaurants. These include: