Highlights

• Becker Milk declared a regular semi-annual Dividend of C$0.40 per share, paid on 30 September 2026.

• Two payments over the past twelve months total C$0.80, a 6.21% trailing Yield on the latest trade.

• Fiscal 2026 Net Income halved to C$1.42 million, mainly because of an unfavourable property Fair Value change.

• The board continues to review strategic alternatives, while earlier discussions with potential acquirers are no longer active.

What does a company with milk in its name actually do today? For The Becker Milk Company Limited (TSX:BEK.B), the answer is property: its Revenue comes from Investment properties plus some finance income, and its non-voting Class B shares receive a dividend twice a year.

On 11 September 2026 the board declared a regular semi-annual dividend of C$0.40 per share on its Class B Special and Common Shares, paid on 30 September to holders of record on 21 September and designated an eligible dividend.

Yield on a thinly traded share

No closing trade on 10 November 2026 could be confirmed. The latest available price was C$12.89, from a trade on 9 November. The two C$0.40 payments that went ex in the twelve months to 10 November, in March and September 2026, total C$0.80, giving a trailing yield of 6.21% on that price.

With the semi-annual rate unchanged, the indicated yield is the same. Because the reference price predates the close, a later trade could shift both figures. Dividend records show C$0.40 paid in every half-year since 2024.

Property Earnings under pressure

For the year to 30 April 2026, total revenue edged up to C$3.02 million. Net income fell to C$1.42 million, or C$0.79 per share, from C$2.85 million, largely because of a C$2.19 million unfavourable fair value adjustment on investment properties. An expropriation settlement with Metrolinx and an insurance recovery after a fire at one property partly offset that hit.

Net Operating Income rose by C$27,191 to C$2.41 million, and adjusted funds from operations came to C$764 thousand, or C$0.42 per share. The company does not present a payout ratio.

The latest quarter

In the three months to 31 July 2026, revenue was C$731,693 and net income C$130,938, or C$0.07 per share. The company attributed the year-on-year decline mainly to a prior-period expropriation settlement. Adjusted funds from operations for the quarter were C$182,991, or C$0.10 per share.

Revenue rose by C$14,953 on the year, with higher property revenue partly offset by lower finance income. Net operating income edged up by C$8,710 to C$614,889. A year earlier, quarterly net income had been C$453,611, or C$0.25 per share, flattered by the settlement proceeds.

A review without a deal

The board continues to evaluate strategic directions and alternatives. Earlier talks with potential acquirers are not currently active, and no transaction has been announced. The company has said it will update the market as appropriate. Until any outcome emerges, each half-yearly dividend remains a decision for the board.