04/20/2015 08:22 EDT | Updated 06/20/2015 01:12 EDT

Pizza Pizza Royalty Corp. increases monthly dividend to shareholders

TORONTO - Pizza Pizza Royalty Corp. (TSX:PZA) is increasing its monthly dividend effective with its April payment to shareholders.The company, which earns royalty revenue from Pizza Pizza and Pizza 73 restaurants, said Monday the April dividend will increase to 6.8 cents per share, up from 6.67 cents per share.It will be payable May 15, to shareholders of record at the close of business on April 30.On an annualized basis, the dividend will increase from 80.04 cents per share to 81.6 cents.Pizza Pizza shares were closed at $14.17 on the Toronto Stock Exchange on Friday.