TORONTO, ON / ACCESS Newswire / September 11, 2026 / The Becker Milk Company Limited (the "Company") (TSX:BEK.B) is pleased to report the results for the three months ended July 31, 2026.HIGHLIGHTSTotal revenues for the three months endedJuly 31, 2026 were $731,693 compared to $716,740 for the same period in 2025;The year-to-date non-GAAP financial measure Net Operating Income for Q1 fiscal 2027 was $614,889 compared to $606,179 in fiscal 2026;The year-to-date net income for Q1 fiscal 2027 was $0.07 per share, compared to $0.25 net income per share in Q1 fiscal 2026.FINANCIAL HIGHLIGHTSTotal revenues for the three months ended July 31, 2026 increased $14,953 compared to the three months ended July 31, 2025, a result of increased property revenue partially offset by reduced finance income.Three months endedJuly 31 20262025Property revenue$707,814$679,971Finance income23,87936,769Total revenues$731,693$716,740Net income attributable to commonand special shareholders$130,938$453,611Average common and special shares outstanding1,808,3601,808,360 Income per share$0.07$0.25Components of the $322,673 decrease in net income for the three months ended July 31, 2026, compared to the three months ended July 31, 2025, are:Changes in Net Income - Three months ended July 31, 2026compared to three months ended July 31, 2025 Proceeds of expropriation settlement$(331,220)Decrease in the fair value adjustment(45,506)Increase in administrative expenses(41,078)Decrease in finance income(12,890)Increase in deferred tax charges(3,232)Increase in net operating income8,710Decrease in current taxes102,543Decrease in net income$(322,673)There was no material change in investment property capitalization rates during the three months ended July 31, 2026. Compared to the three months ended July 31, 2025, there was a $45,506 unfavourable change in the fair value adjustment to investment properties.Non-IFRS financial measuresNet operating incomeThe non-IFRS financial measure Net Operating Income for the three months ended July 31, 2026, was $614,889, a $8,710 increase compared with the previous year. Three months ended July 31 20262025Property revenue$707,814$679,971Property operating expenses(92,925)(73,792)Net operating income$614,889$606,179Funds from operations and adjusted funds from operationsFor the three months ended July 31, 2026, the Company recorded Adjusted funds from operations of $182,991 ($0.10 per share) compared to $186,918 ($0.10 per share) in 2025. Three months ended July 3120262025Net income$130,938$453,611Add (deduct) items not affecting cash:Adjustment to fair value of investment properties90,85045,344Deferred income taxes(7,947)(11,179)Funds from operations213,841487,776Deduct non-operating items:Sustaining capital expenditures(30,850)(45,344)Adjusted funds from operations$182,991$442,432Adjusted funds from operations per share$0.10$0.24STRATEGIC REVIEWThe Board of Directors continually evaluates a variety of potential strategic directions for the Company. The Company continues to review its strategic alternatives strategy and will update the market as appropriate, and as required by applicable law.DIVIDENDThe Directors of the Company have declared the regular semi-annual dividend on Class B Special and Common Shares of 40 cents per share. This dividend of 40 cents will be paid to those shareholders of record as of September 21, 2026, and payable on September 30, 2026.The dividends for Canadian tax purposes will be considered as an eligible dividend.The Company's interim financial statements for the three months ended July 31, 2026, along with the Management's Discussion and Analysis will be filed with SEDAR at www.sedar.com.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 DirectorsG.W.J. Pottow, PresidentTel: 416-698-2591SOURCE: The Becker Milk Company LimitedView the original press release on ACCESS Newswire
Three Month Financial Results and Regular Dividend
TORONTO, ON / ACCESS Newswire / September 11, 2026 / The Becker Milk Company Limited (the "Company") (TSX:BEK.B) is pleased to report the results for the three months ended July 31, 2026.HIGHLIGHTSTotal revenues for the three months endedJuly 31, 2026 were $731,693 compared to $716,740 for the same period in 2025;The year-to-date non-GAAP financial measure Net Operating Income for Q1 fiscal 2027 was $614,889 compared to $606,179 in fiscal 2026;The year-to-date net income for Q1 fiscal 2027 was $0.07 per share, compared to $0.25 net income per share in Q1 fiscal 2026.FINANCIAL HIGHLIGHTSTotal revenues for the three months ended July 31, 2026 increased $14,953 compared to the three months ended July 31, 2025, a result of increased property revenue partially offset by reduced finance income.Three months endedJuly 31 20262025Property revenue$707,814$679,971Finance income23,87936,769Total revenues$731,693$716,740Net income attributable to commonand special shareholders$130,938$453,611Average common and special shares outstanding1,808,3601,808,360 Income per share$0.07$0.25Components of the $322,673 decrease in net income for the three months ended July 31, 2026, compared to the three months ended July 31, 2025, are:Changes in Net Income - Three months ended July 31, 2026compared to three months ended July 31, 2025 Proceeds of expropriation settlement$(331,220)Decrease in the fair value adjustment(45,506)Increase in administrative expenses(41,078)Decrease in finance income(12,890)Increase in deferred tax charges(3,232)Increase in net operating income8,710Decrease in current taxes102,543Decrease in net income$(322,673)There was no material change in investment property capitalization rates during the three months ended July 31, 2026. Compared to the three months ended July 31, 2025, there was a $45,506 unfavourable change in the fair value adjustment to investment properties.Non-IFRS financial measuresNet operating incomeThe non-IFRS financial measure Net Operating Income for the three months ended July 31, 2026, was $614,889, a $8,710 increase compared with the previous year. Three months ended July 31 20262025Property revenue$707,814$679,971Property operating expenses(92,925)(73,792)Net operating income$614,889$606,179Funds from operations and adjusted funds from operationsFor the three months ended July 31, 2026, the Company recorded Adjusted funds from operations of $182,991 ($0.10 per share) compared to $186,918 ($0.10 per share) in 2025. Three months ended July 3120262025Net income$130,938$453,611Add (deduct) items not affecting cash:Adjustment to fair value of investment properties90,85045,344Deferred income taxes(7,947)(11,179)Funds from operations213,841487,776Deduct non-operating items:Sustaining capital expenditures(30,850)(45,344)Adjusted funds from operations$182,991$442,432Adjusted funds from operations per share$0.10$0.24STRATEGIC REVIEWThe Board of Directors continually evaluates a variety of potential strategic directions for the Company. The Company continues to review its strategic alternatives strategy and will update the market as appropriate, and as required by applicable law.DIVIDENDThe Directors of the Company have declared the regular semi-annual dividend on Class B Special and Common Shares of 40 cents per share. This dividend of 40 cents will be paid to those shareholders of record as of September 21, 2026, and payable on September 30, 2026.The dividends for Canadian tax purposes will be considered as an eligible dividend.The Company's interim financial statements for the three months ended July 31, 2026, along with the Management's Discussion and Analysis will be filed with SEDAR at www.sedar.com.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 DirectorsG.W.J. Pottow, PresidentTel: 416-698-2591SOURCE: The Becker Milk Company LimitedView the original press release on ACCESS Newswire
