Nine Month Financial Results and Regular Dividend

World News: . []

TORONTO, March 13, 2018 (GLOBE NEWSWIRE) --

The Becker Milk Company Limited (the “Company”) (TSX:BEK.B) is pleased to report the results for the nine months ended January 31, 2018.

Net operating income for the nine months ended January 31, 2018 decreased $256,369 compared with the previous year to $2,139,917, as a result of decreased revenue, resulting from vacancies and the sale of properties.

Components of the $755,060 decrease in net income for the nine months ended January 31, 2018 compared to the nine months ended January 31, 2017 are:                                                                                                                                            

For the nine months ended January 31, 2018 the Company recorded adjusted funds from operations of $943,241 ($0.52 per share) compared to $1,042,132 ($0.58 per share) in 2017.

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. Although this arrangement terminated in fiscal 2016, the Company continues to review its strategic alternatives and will update the market as appropriate and as required.

As at January 31, 2018 total legal and engineering costs of $853,870 had been incurred in connection with the potential sale of the Company.

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 22, 2018 and payable on March 30, 2018.

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, 2018, along with the Management’s Discussion and Analysis will be filed with SEDAR at .

For the Board of DirectorsG.W.J. Pottow, PresidentTel: 416-698-2591

More news and information about The Becker Milk Company Limited

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Globe Newswire: 00:44 GMT Wednesday 14th March 2018

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