On February 15, 2002, the A&W Revenue Royalties Income Fund was listed on the Toronto Stock Exchange. The initial public offering was 8.34 million units at $10 each. The fund owns the A&W trademarks in Canada and licenses them to A&W Food Services of Canada Inc. Revenue is generated by charging a three percent royalty on gross sales of each restaurant. Television advertisements are filmed at locations in the Fraser Valley. In June 2006, A&W celebrated 50 years in Canada. Some Quebec locations had been Dunkin' Donuts locations until Dunkin' Donuts closed most locations in Quebec.