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Pizza Pizza Announces 4.2% Dividend Increase

TORONTO, ONTARIO -- (Marketwire) -- 01/16/13 --

Attention Business Editors:

Pizza Pizza Royalty Corp. (TSX:PZA), formerly Pizza Pizza Royalty Income Fund, today announced a 4.2% increase in its monthly dividend which will be effective beginning with the January 2013 dividend.

On an annual basis the dividend will increase from $0.72 to $0.75 per share.

For the period January 1 to January 31, the dividend per share will increase to $0.0625 from $0.06 and will be payable February 15, 2013 to shareholders of record at the close of business on January 31, 2013.

For tax purposes, the Company's 2013 distributions will be treated as taxable eligible dividends. In previous years, distributions were treated in part as a taxable dividend and in part as a return of capital.

The Company's shares are listed on the Toronto Stock Exchange under the symbol PZA.

Pizza Pizza Limited
Curt Feltner
Chief Financial Officer
(416) 967-1010 x307

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