Real Estate — January 10, 2013Madison Pacific Properties Inc. Announces the Results for the Eight Months Ended August 31, 2012
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2013) - Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C) (the Company), a Vancouver-based real estate company, announces the results of operations for the three months ended November 30, 2012. The Company changed its year end from December 31 to August 31 effective in 2012.
The results reported are pursuant to International Financial Reporting Standards (IFRS) for public companies.
For the three months ended November 30, 2012 the Company is reporting net income of $1.8 million; cash flows from operating activities, before changes in non-cash operating balances, of $2 million; and income per share of $0.03. Included in net income is a pre-tax net gain on fair value adjustment on investment properties of $.3 million.
The Company disposed of one property in the three month period for $11.7 million.
Excluding properties held for sale the Company owns over $270 million in investment properties comprising 1.2 million rentable sq. ft. of industrial and commercial space. As at November 30, 2012 over 99% of the available space, excluding property that was under development, was leased.
For a review of the risks and uncertainties to which the Company is subject see the August 31, 2012 annual MD&A.
The Company is pleased to announce $0.0525 per share dividend will be payable February 26, 2013 to shareholders of record February 8, 2013.
Madison Pacific Properties Inc.
Mr. Marvin Haasen
President & CEO
Madison Pacific Properties Inc.
Mr. Bill Ramsey
(604) 732-6550 (FAX)
Latest Industry Press Releases
Superior Plus Announces March 2014 Cash Dividend (2014-03-06)
Retrocom REIT Announces 2013 Results (2014-03-06)
|MOST POPULAR STORIES|
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 527 projects with a total value of $1,552,331,732 that Reed Construction Data Building Reports reported on Friday.
$120,000,000 Oakville ON Tenders
$48,225,000 Etobicoke ON Prebid
$40,000,000 Ottawa ON Negotiated
- CCA96th: Unlocking Canada's Potential
- VIDEO: LiUNA Local 183 Training Centre introduces new programs
- Wins delivered on infrastructure front: Rizzardo
- Behind the Velodrome’s Veil
- Ontario’s prompt payment bill needs work but supported
- Southwest L-evation
- Post-bid clarifications make feds liable for bid repair
- Panama Construction Fact for Today
- Ritchie Bros. hold first Canadian auction of 2014
- Skilled labour needs changing in Saskatchewan
- Quebec’s construction momentum ebbs after 15 years of expansion
- VIDEO: Canadian Construction Association conference Panama preview
- Concerns raised about P3 approach for Saskatchewan schools
- Journal of Commerce Preview for the week of March 10th, 2014
- Wood Design Awards
- Lone bidder prepares P3 proposal for Alberta schools
- Outgoing chair reflects on time at the helm of the CCA
- School board asks for traditional procurement
- Site Services in Vancouver
- Looking to improve contract awards
- Environmental verdict riles Taseko
- Prentice to mediate First Nations agreements
- CAWIC funded to create action plan to attract women
- More video surveillance used on construction sites
- Modular workforce housing meets Alberta Building Code standard
- Manitoba outlines infrastructure plan
- BC Hydro posts RFQ for Site C project