The Becker Milk Company Limited: Three Month Financial Results and Regular Dividends
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 09/11/12 -- The Becker Milk Company Limited (the "Company") (TSX: BEK.B) is pleased to report the results for the three months ending July 31, 2012.
HIGHLIGHTS
Significant components of the $375,418 decrease in net income between the three months ended July 31, 2012 compared to the three months ended July 31, 2011 are:
NET OPERATING INCOME
Net operating income for the three months ended July 31, 2012, increased by $91,087 to $896,589 compared to $805,502 in 2011. The increase was predominantly the result of both increased rental revenues and reduced property operating expenses.
ADJUSTED FUNDS FROM OPERATIONS
For the three months ended July 31, 2012 the Company recorded Adjusted funds from operations of $465,871 ($0.26 per share) compared to $328,801 ($0.18 per share) in 2011. This increase is largely the result of higher operating income combined with reduced sustaining capital expenditures.
DIVIDEND
The Directors of the Company have declared a regular dividend on Class B Special and Common Shares of 35 cents per share. The regular dividend of 35 cents will be paid to those shareholders of record as of September 24, 2012 and payable on October 5, 2012.
The dividends for Canadian tax purposes will be considered as an eligible dividend.
The Company's annual financial statements for the three months ended July 31, 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: 11.09.2012 - 14:20 Uhr
Sprache: Deutsch
News-ID 1150133
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