Nine Month Financial Results and Regular Dividend

TORONTO, ON / ACCESS Newswire / March 11, 2026 / The Becker Milk Company Limited (the "Company") (TSX:BEK.B) is pleased to report the results for the nine months ended January 31, 2026.

HIGHLIGHTS

• Total revenues for the nine months ended January 31, 2026, were $2,296,555 compared to $2,275,266 for the same period in 2025;

• The year-to-date non-GAAP financial measure Net Operating Income for Q3 fiscal 2026 was $1,851,281 compared to $1,844,195 in fiscal 2025;

• The year-to-date net income for Q3 fiscal 2026 was $0.64 per share, compared to $1.43 net income per share in Q3 fiscal 2025.

• Compensation from an expropriation claim against Metrolinx and from insurance recovery following a fire at an investment property have resulted in gains of $330.874 and $362,526 respectively.

FINANCIAL HIGHLIGHTS

Total revenues for the nine months ended January 31, 2026, increased $21,289 compared to the nine months ended January 31, 2025, a result of increased property revenue partially offset by reduced finance income.

		Nine months ended
		January 31
		2026				2025
Property revenue		$	2,211,626			$	2,148,528
Finance income			84,929				126,738
Total revenues		$	2,296,555			$	2,275,266
Net income attributable to common
and special shareholders		$	1,154,048			$	2,583,254
Average common and special shares outstanding			1,808,360				1,808,360
Income per share		$	0.64			$	1.43

Components of the $1,429,206 decrease in net income for the nine months ended January 31, 2026 compared to the nine months ended January 31, 2025 are:

Changes in Net Income - Nine months ended January 31, 2026
compared to nine months ended January 31, 2025

Increase in gain on disposal		$	362,526
Proceeds of expropriation settlement			330,874
Decrease in deferred tax charges			239,509
Increase in net operating income			7,087
Decrease in finance income			(41,809	)
Increase in administrative expenses			(45,261	)
Increase in current taxes			(146,687	)
Decrease in the fair value adjustment			(2,135,443	)
Decrease in net income		$	(1,429,206	)

Investment property capitalization rates were unchanged during the nine months ended January 31, 2026. Compared to the nine months ended January 31, 2025, there was a $2,135,443 unfavourable change in the fair value adjustment to investment properties.

Non-IFRS financial measures

Net operating income

The non-IFRS financial measure Net Operating Income for the nine months ended January 31, 2026, was $1,851,281, a $7,086 increase compared with the previous year.

		Nine months ended
		January 31
		2026				2025
Property revenue		$	2,211,626			$	2,148,528
Property operating expenses			(360,345	)			(304,333	)
Net operating income		$	1,851,281			$	1,844,195

Funds from operations and adjusted funds from operations

For the nine months ended January 31, 2026, the Company recorded Adjusted funds from operations of $586,461 ($0.32 per share) compared to $589,710 ($0.33 per share) in 2025.

		Nine months ended
		January 31
		2026				2025
Net income		$	1,154,048			$	2,583,254
Add (deduct) items not affecting cash:
Adjustment to fair value of investment properties			37,225				(2,098,218	)
Gain on fire disturbance, net of income tax			(339,240	)
Proceeds of expropriation settlement, net of income tax			- 218,107				-
Deferred income taxes			46,947				286,456
Funds from operations			680,873				771,492
Deduct non-operating items:
Sustaining capital expenditures			(94,412	)			(181,782	)
Adjusted funds from operations		$	586,461			$	589,710
Adjusted funds from operations per share		$	0.32			$	0.33

STRATEGIC REVIEW

The Board of Directors continually evaluates strategic directions for the Company. Although the Company has previously engaged in discussions with potential acquirers, none of those discussions are active currently. The Company continues to review its strategic alternatives and will update the market as appropriate, and as required.

DIVIDEND

The 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 March 20, 2026, and payable on March 31, 2026.

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, 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 Directors
G.W.J. Pottow, President
Tel: [phone]

SOURCE: The Becker Milk Company Limited

View the original press release on ACCESS Newswire


The Becker Milk Ptg Special (B) Stock at the time of publication of the news with a raise of +2,49 % to 13,17CAD on Toronto stock exchange (11. März 2026, 20:59 Uhr).