Imvescor Reports Modest Quarter


MONCTON, N.B. – No doubt 2009 was tough, but Imvescor Restaurant Group Inc., formerly PDM Royalties Income Fund, has posted some positive news on its latest quarterly results for the 13 weeks ending May 2, 2010 (second quarter), and for the 27 weeks ending May 2, 2010.  

Operating as a public company since Oct. 10, 2009, the results for the periods ending May 2, 2010 are not directly comparable with the results for PDM in the same quarter and six-month periods last year. The board of directors has approved a dividend of $0.075 per share, payable to shareholders on August 31, 2010 to shareholders of record August 13, 2010.

“Imvescor Restaurant Group continues making progress in building new restaurants and working closely with its franchisees to provide great food and service to its customers,” said Ron Magruder, president and CEO. “Market conditions continue to be challenging and the consumer remains cautious. However, we have continued to make progress on many fronts, including a regular and predictable quarterly dividend, repayment of a portion of our long-term debt, the opening of new restaurants and the renovation of existing restaurants.”

Year-to-Date Highlights
– The company has repaid $1.6 million in long-term debt;
– The company has declared its third-consecutive quarterly dividend of
$0.075 per share;
– Four new restaurants opened and 12 locations renovated
– Total sales increased by 1.8 per cent for the 27 weeks ended May 2, 2010


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