The Becker Milk Company Limited: Three Month Financial Results and Regular Dividends
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 10/07/11 -- The Becker Milk Company Limited (the "Company") (TSX: BEK.B) is pleased to report the results for the three months ending July 31, 2011.
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 unaudited interim financial statements for the period ended July 31, 2011.
HIGHLIGHTS
Significant components of the $557,732 change in net income between the three months ended July 31, 2011 compared to the three months ended July 31, 2010 are:
NET OPERATING INCOME
Net operating income for the three months ended July 31, 2011, decreased by $54,583 to $805,504 compared to $860,087 in 2010. The decrease was predominantly the result of the following:
For the three months ended July 31, 2011 the Company recorded Adjusted funds from operations of $399,570 ($0.22 per share) compared to $346,652 ($0,19 per share) in 2010. This increase is largely the result of lower sustaining capital expenditures during the most recent period.
DIVIDEND
The Directors of the Company have declared a regular semi-annual dividend on Class B Special and Common Shares of 35 cents per share. This is an increase of 5 cents per share semi-annually. This regular dividend of 35 cents will be paid to those shareholders of record as of October 20, 2011, and payable on October 31, 2011.
The dividends for Canadian tax purposes will be considered as an eligible dividend.
The Company's interim unaudited financial statements for the three months ended July 31, 2011, 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.
Contacts:
For the Board of Directors
The Becker Milk Company Limited
G.W.J. Pottow
President
416-698-2591
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Datum: 07.10.2011 - 14:40 Uhr
Sprache: Deutsch
News-ID 73910
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Dairy
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