- The Becker Milk Company Ltd. (BEK.B) reported $728,422 in total revenue for the first quarter of fiscal year 2022
- Lower revenues were due in part to a decrease in property revenues in the 2022 fiscal year
- The board of directors continues to evaluate the company’s strategic direction
- The Becker Milk Company also declared its regular semi-annual dividend of $0.40 per share, to be paid on September 30, 2021
- The Becker Milk Company Ltd. (BEK.B) is up 1.82 per cent, trading at $13.95 per share
The Becker Milk Company Ltd. (BEK.B) reported $728,422 in total revenue for the first quarter of fiscal year 2022.
That represents a decrease of $40,050 in revenue compared to the same period of the previous fiscal year. Net income was also slightly lower, at $0.13 per share compared to $0.15 per share in 2021.
Lower revenues were due in part to a decrease in property revenues in the 2022 fiscal year, as well as a significantly lower finance income compared to fiscal year 2021.
The company also experienced higher taxes and higher administrative expenses that contributed to a lower net income.
Over the past seven years, the board has worked to simplify the company’s portfolio by selling 25 investment properties.
The board of directors continues to evaluate the company’s strategic direction and has engaged in discussion with potential acquirors.
In addition to releasing its financial results, directors of The Becker Milk Company also declared its regular semi-annual dividend of $0.40 per share. This dividend will be paid on September 30, 2021, to shareholders on record as of September 21.
The Becker Milk Company owns and manages retail commercial properties in Ontario. The company leases retail stores and several residential sites across the province.
The Becker Milk Company Ltd. (BEK.B) is up 1.82 per cent, trading at $13.95 per share as of 3:37 pm ET.
