The Becker Milk Company Limited Three Month Financial Results and Regular Dividend
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 09/09/13 -- The Becker Milk Company Limited (the "Company") (TSX: BEK.B) is pleased to report the results for the three months ending July 31, 2013.
HIGHLIGHTS
Significant components of the $416,708 increase in net income between the three months ended July 31, 2013 compared to the three months ended July 31, 2012 are:
NET OPERATING INCOME
Net operating income for the three months ended July 31, 2013, decreased by $50,779 to $845,809 compared to $896,588 in 2012. The decrease was predominantly the result of both reduced rental revenues and increased property operating and administrative expenses.
For the three months ended July 31, 2013 the Company recorded Adjusted funds from operations of $422,375 ($0.23 per share) compared to $465,871 ($0.26 per share) in 2011. This decrease is largely the result of lower operating income.
DIVIDEND
The Directors of the Company have declared a regular dividend on Class B Special and Common Shares of 40 cents per share. The regular dividend of 40 cents will be paid to those shareholders of record as of September 20, 2013 and payable on October 3, 2013.
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, 2013, 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: 09.09.2013 - 14:53 Uhr
Sprache: Deutsch
News-ID 1261756
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