The Becker Milk Company Limited

Six Month Financial Results and Special Dividend

TORONTO, Dec. 11, 2019 (GLOBE NEWSWIRE) -- The Becker Milk Company Limited (the “Company”) (TSX-BEK.B) is pleased to report the results for the six months ended October 31, 2019.

HIGHLIGHTS

• Total revenues for the six months ended October 31, 2019 were $1,618,664 compared to $1,522,067 for the same period in 2018;
• Net operating income for Q2 fiscal 2020 was $1,328,088 compared to $1,247,974 in fiscal 2019;
• Net income for Q2 fiscal 2020 was $0.25 per share, compared to $0.23 per share in fiscal 2019.

FINANCIAL HIGHLIGHTS

Net operating income for the six months ended October 31, 2019 increased $80,114 compared with the previous year to $1,328,088, principally as a result of improved revenue.

	Six months ended
	October 31
	2019	2018
Property revenue	$1,546,575	$1,478,029
Finance income	72,089	44,038
Total revenues	$1,618,664	$1,522,067
Property revenue	$1,546,575	$1,478,029
Property operating expenses	(218,487)	(230,055)
Net operating income	$1,328,088	$1,247,974
Adjusted funds from operations	$610,365	$524,795
Net income attributable to common and special shareholders	$447,900	$406,908
Average common and special shares outstanding	1,808,360	1,808,360
Income per share	$0.25	$0.23