The Becker Milk Company Limited: 2012 Annual Financial Results and Special Dividend
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 06/28/12 -- The Becker Milk Company Limited (the "Company") (TSX: BEK.B) is pleased to report the results for the year ended April 30, 2012.
These results are, and all future results will be, reported under International Financial Reporting Standards (IFRS) and historical results have been restated to IFRS for comparison purposes. Reconciliations between IFRS and Canadian Generally Accepted Accounting Principles have been included in the Company's annual financial statements for the period ended April 30, 2012.
HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Significant components of the $363,390 increase in net income between the year ended April 30, 2012 compared to the year ended April 30, 2011 are:
NET OPERATING INCOME
Net operating income for the year ended April 30, 2012, increased by $114,741 to $3,491,179 compared to $3,376,438 in 2011. The increase was predominantly the result of the successful completion of a number of lease renewal negotiations and reduced property operating and administrative expenses.
ADJUSTED FUNDS FROM OPERATIONS
For the year ended April 30, 2012 the Company recorded Adjusted funds from operations of $1,801,307 ($1.00 per share) compared to $1,482,416 ($0.82 per share) in 2011. This increase is largely the result of higher operating income combined with reduced administrative expenses and current income taxes.
SPECIAL DIVIDEND
Directors of the Company have determined that a special dividend of $1.25 dollars per share be declared to the Class B Special and Common Shares. The dividend will be paid to those shareholders of record as of July 12th, 2012 and payable on July 24th, 2012.
The dividends for Canadian tax purposes will be considered as an eligible dividend.
The Company's annual financial statements for the year ended April 30, 2012, along with the Management's Discussion and Analysis will be filed with SEDAR at .
Readers are cautioned that although the terms "Net Operating Income", and "Funds From Operations" are commonly used to measure, compare and explain the operating and financial performance of Canadian real estate companies and such terms are defined in the Management's Discussion and Analysis, such terms are not recognized terms under Canadian generally accepted accounting principles. Such terms do not necessarily have a standardized meaning and may not be comparable to similarly titled measures presented by the other publicly traded entities.
For the Board of Directors
G.W.J. Pottow, President
Contacts:
The Becker Milk Company Limited
G.W.J. Pottow
President
416-698-2591
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Datum: 28.06.2012 - 14:42 Uhr
Sprache: Deutsch
News-ID 1129013
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Kategorie:
Vending
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