The Becker Milk Company Limited: Nine Month Financial Results and Dividend
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 03/09/16 -- The Becker Milk Company Limited (the "Company") (TSX: BEK.B) is pleased to report the results for the nine months ended January 31, 2016.
HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Components of the $173,231 decrease in net income between the nine months ended January 31, 2016 compared to the nine months ended January 31, 2015 are:
NET OPERATING INCOME
Net operating income for the nine months ended January 31, 2016 decreased $24,998 to $2,604,119 compared to $2,629,117 in 2015, principally as a result of higher property operating expenses.
ADJUSTED FUNDS FROM OPERATIONS
For the nine months ended January 31, 2016 the Company recorded adjusted funds from operations of $1,249,968 ($0.69 per share) compared to $1,188,216 ($0.66 per share) in 2015. A reduction in sustaining capital expenditures was the main component of this increase.
STRATEGIC REVIEW
As reported in a press release dated August 6, 2013 the Company retained PricewaterhouseCoopers Real Estate Inc. to explore the possible sale of the Company. The Company previously announced that PWC had completed the initial steps in the sale process and that the Company was engaged in advanced discussions with a single potential acquirer. Although those discussions were terminated, the Company continues to review its strategic alternatives and will update the market as appropriate and as required.
As at January 31, 2016 legal and engineering costs of $825,815 had been incurred in connection with the potential sale of the Company.
DIVIDEND
The Directors of the Company have declared a dividend on Class B Special and Common Shares of 40 cents per share. The dividend of 40 cents will be paid to those shareholders of record as of March 18, 2016 and payable on March 29, 2016.
The dividends for Canadian tax purposes will be considered as an eligible dividend.
The Company''s interim financial statements for the nine months ended January 31, 2016, 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:
G.W.J. Pottow
President
416-698-2591
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 09.03.2016 - 11:18 Uhr
Sprache: Deutsch
News-ID 1420740
Anzahl Zeichen: 2594
contact information:
Contact person:
Town:
TORONTO, ONTARIO
Phone:
Kategorie:
Retailers
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 223 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"The Becker Milk Company Limited: Nine Month Financial Results and Dividend
"
steht unter der journalistisch-redaktionellen Verantwortung von
The Becker Milk Company Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
