A&W Revenue Royalties Income Fund reports Q3 profit up, raises distributions
A&W Revenue Royalties Income Fund reported a Q3 net loss of $1.9 million, or $.18 per diluted share, down from a loss of $1.7 million, or $.17 per diluted share, in the prior year. Non-GAAP earnings per share were down 0.3% to $2.07. The third quarter included a one-time gain of $1.8 million (of $1.4 million in the first quarter), as the fund’s distribution had to be increased.
The fund managed for A&W by A-G Advisors, LLC (A-G) reported total investments at $2.4 billion as of June 30, 2018, up 1% from $2.41 billion as of June 30, 2017 – an increase in assets of 18%. The fund raised $566 million at June 30, 2018, compared with $541 million at June 30, 2017.
A & W Revenue Royalties Income Fund has more than $2.5 billion in cash and investments as of June 30, 2018, and has 1.1 billion shares outstanding as of June 30, 2018.
The fund’s assets under management as of June 30, 2018, were $2.3 billion, which is slightly higher than $2.2 billion as of June 30, 2017.
As of June 30, 2018, the fund had $1.2 billion in earnings and taxes, compared with $1.1 billion as of June 30, 2017. Non-GAAP earnings increased to $1.5 billion from $1.0 billion. The net loss for the quarter included a $1.8 million gain (of $1.4 million in the first quarter). The distribution was increased to $1.8 from $1.5 million.
All three funds posted net income for the full year ended Dec. 31, 2018.
A&W Revenue Royalties Income Fund had a 2018 non-
