Preheat the oven to 300°F (150°C) and grease a 10-inch tube or Bundt pan with softened butter, then dust with flour.

In a stand mixer, cream the softened butter on medium speed for about 2 minutes until pale and smooth.

Gradually add sugar while mixing on medium, then switch to medium-high speed and beat for 5 minutes until mixture is light and fluffy.

With mixer on medium-low, add eggs one at a time, ensuring each is well incorporated before adding the next.

Lower the mixer speed and alternate adding the flour and milk in the order: flour, milk, flour, milk, flour, mixing just until combined after each addition.

Stir in the vanilla and almond extract using a rubber spatula.

Pour the batter into the prepared pan, smooth the top, and tap the pan to remove air bubbles.

Bake in the preheated oven for 1 hour and 30 minutes to 1 hour and 40 minutes, checking doneness with a toothpick after 1 hour 25 minutes.

Cool the cake in the pan for 10 to 15 minutes before inverting it onto a wire rack to cool completely.