{"id":8689,"date":"2022-07-22T21:59:07","date_gmt":"2022-07-22T21:59:07","guid":{"rendered":"https:\/\/marylanddailygazette.com\/update-the-becker-milk-company-limited-2022-annual-financial-results\/"},"modified":"2022-07-22T21:59:07","modified_gmt":"2022-07-22T21:59:07","slug":"update-the-becker-milk-company-limited-2022-annual-financial-results","status":"publish","type":"post","link":"https:\/\/marylanddailygazette.com\/update-the-becker-milk-company-limited-2022-annual-financial-results\/","title":{"rendered":"UPDATE \u2013 The Becker Milk Company Limited: 2022 Annual Financial Results"},"content":{"rendered":"<p><a href=\"https:\/\/www.digitaljournal.com\/pr\/update-the-becker-milk-company-limited-2022-annual-financial-results\">UPDATE \u2013 The Becker Milk Company Limited: 2022 Annual Financial Results<\/a><\/p>\n<p><p align=\"justify\">TORONTO, July 22, 2022 (GLOBE NEWSWIRE) \u2014 The Becker Milk Company Limited (the \u201cCompany\u201d) (TSX-BEK.B) is pleased to report the results for the year ended April 30, 2022.<\/p>\n<p align=\"justify\"><strong>HIGHLIGHTS<\/strong><\/p>\n<ul type=\"disc\">\n<li>Total revenues for the year ended April 30, 2022 were $2,670,042 compared to $3,097,155 for the same period in 2021;<\/li>\n<li>Net operating income for the year was $2,121,894 compared to $2,367,836 in 2021;<\/li>\n<li>Net income for the year was $3.13 per share, compared to $1.96 per share in 2021.<\/li>\n<\/ul>\n<p align=\"justify\"><strong>FINANCIAL HIGHLIGHTS<\/strong><\/p>\n<p align=\"justify\">Net operating income for the year ended April 30, 2022 decreased $245,942 to $2,121,894 as compared with the previous year, primarily as a result of non-recurring adjustments to property revenue resulting from completion of negotiations with Mac\u2019s Convenience Stores Inc. regarding base rents for most of its locations. In determining net operating income the revenue reduction was partially offset by lower property operating expenses.<\/p>\n<table class=\"gnw_table_border_collapse hugin\" readability=\"3\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"4\">Year ended<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"4\">April 30<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\"><strong>&nbsp;<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">2022<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">2021<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Property revenue<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$2,630,175<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$3,024,970<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Finance income<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">39,867<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">72,185<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid hugin gnw_vertical_align_bottom\">Total revenues<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$2,670,042<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$3,097,155<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\">Net income attributable to common and special shareholders<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$5,665,984<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$3,536,378<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Average common and special shares outstanding<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">1,808,360<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">1,808,360<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\">Income per share<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$3.13<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$1.96<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"4\">Year ended<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"4\">April 30<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\"><strong>&nbsp;<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">2022<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">2021<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Property revenue<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$2,630,175<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$3,024,970<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Property operating expenses<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(508,281<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(657,134<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid hugin gnw_vertical_align_bottom\">Net operating income<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$2,121,894<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$2,367,836<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br \/>Components of the $2,129,606 decrease in net income for the year ended April 30, 2022 compared to the year ended April 30, 2021 are:<\/p>\n<table class=\"gnw_table_border_collapse hugin\" readability=\"13\">\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\"><strong>Changes in net income \u2013 Year ended April 30, 2022<\/strong><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"3\"><strong>compared to year ended April 30, 2021<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\"><em>&nbsp;<\/em><\/td>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Provision for environmental liability<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Increase in fair value adjustment<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$2,748,000<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Decrease in current taxes<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">76,581<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Decrease in administrative expenses<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">43,752<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Decrease loss on disposal<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">18,038<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Decrease in finance income<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(32,318<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Increase strategic review expenses<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(99,014<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Decrease in net operating income<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(245,942<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Increase in deferred tax charges<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(379,491<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">Decrease in gain on expropriation settlement<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">0<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">Increase in net income<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$2,129,606<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">The large increase in the fair value adjustment to investment properties resulted from revised assumptions with respect to capitalization rates and market rents reflecting market conditions as at April 30, 2022.<\/p>\n<p align=\"justify\"><strong><br \/>ADJUSTED FUNDS FROM OPERATIONS<\/strong><\/p>\n<p align=\"justify\">For the year ended April 30, 2022 the Company recorded adjusted funds from operations of $348,427 ($0.19 per share) compared to $757,017 ($0.42 per share) in 2021.<\/p>\n<table class=\"gnw_table_border_collapse hugin\" readability=\"8\">\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"4\">Year ended<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_align_center hugin gnw_vertical_align_bottom\" colspan=\"4\">April 30<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\"><strong>&nbsp;<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\"><strong>&nbsp;<\/strong><\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">2022<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">2021<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Net income<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$5,665,984<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$3,536,378<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">Add (deduct) items not affecting cash:<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\" colspan=\"2\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">Fair value adjustment to investment properties<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(5,993,000<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(3,245,000<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">Loss (gain) on sale of investment properties<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">4,583<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">22,621<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">Tax on gains from sale of property<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">9,065<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">27,700<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">Deferred income taxes<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">798,546<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">419,055<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">Expenses related to strategic review<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(102,751<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(3,737<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"gnw_align_right hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"hugin gnw_vertical_align_bottom\">Sustaining capital expenditures<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">(34,000<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">)<\/td>\n<td class=\"gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">0<\/td>\n<td class=\"gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" colspan=\"2\">Adjusted funds from operations<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$348,427<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$757,017<\/td>\n<td class=\"gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<tr readability=\"2\">\n<td class=\"gnw_border_bottom_solid hugin gnw_vertical_align_bottom\" colspan=\"2\">Adjusted funds from operations per share<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$0.19<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right hugin gnw_vertical_align_bottom\">$0.42<\/td>\n<td class=\"gnw_border_bottom_solid gnw_padding_left_none gnw_align_left hugin gnw_vertical_align_bottom\">&nbsp;<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><strong><br \/>STRATEGIC REVIEW<\/strong><\/p>\n<p>Since 2014 the Board of Directors has been evaluating strategic directions for the Company and has engaged in discussions with potential acquirors. While the Company has engaged in some discussions during the last quarter, none of those discussions are active at this time. During this period a programme of divesting less desirable sites has resulted in the sale of 26 investment properties. The Company continues to review its strategic alternatives and will update the market as appropriate, and as required.<\/p>\n<p align=\"justify\">The Company\u2019s annual financial statements for the year ended April 30, 2022, along with the Management\u2019s Discussion and Analysis will be filed with SEDAR at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BK06Jih8GeV52y5ePcTqFdBWnfzgJuNZJQgdC3ROCRP4pz1uf8R45pXJHCWuKz2agLVPCH_i5XjgrrZ_m2OsWg==\" rel=\"nofollow\">www.sedar.com<\/a>.<\/p>\n<p align=\"justify\"><em>Readers are cautioned that although the terms \u201cNet Operating Income\u201d, and \u201cFunds From Operations\u201d 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\u2019s 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.<\/em><\/p>\n<p align=\"justify\">For the Board of Directors<br \/>G.W.J. Pottow, President<br \/>Tel: 416-698-2591<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/marylanddailygazette.com\/wp-content\/uploads\/2022\/07\/Kxzcc3.png\" referrerpolicy=\"no-referrer-when-downgrade\"><\/p>\n<p><noscript><img decoding=\"async\" src=\"https:\/\/marylanddailygazette.com\/wp-content\/uploads\/2022\/07\/Kxzcc3.png\" referrerpolicy=\"no-referrer-when-downgrade\"><\/noscript><br \/>\n <br \/>Published Fri, 22 Jul 2022 16:54:45 -0500<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UPDATE \u2013 The Becker Milk Company Limited: 2022 Annual Financial Results TORONTO, July 22, 2022 (GLOBE NEWSWIRE) \u2014 The Becker Milk Company Limited (the \u201cCompany\u201d) (TSX-BEK.B) is pleased to report the results for the year ended April 30, 2022. HIGHLIGHTS Total revenues for the year ended April 30, 2022 were $2,670,042 compared to $3,097,155 for [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":8688,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/posts\/8689"}],"collection":[{"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/comments?post=8689"}],"version-history":[{"count":0,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/posts\/8689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/media\/8688"}],"wp:attachment":[{"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/media?parent=8689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/categories?post=8689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/tags?post=8689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}