Granite REIT Declares Distribution for April 2021

Rhea-AI Summary

Granite Real Estate Investment Trust (TSX: GRT.UN / NYSE: GRP.U) has announced a monthly distribution of CAD $0.250 per stapled unit for April 2021. This distribution will be paid on May 14, 2021, to unitholders recorded by the close of trading on April 30, 2021. The stapled units will start trading ex-dividend on the Toronto and New York Stock Exchanges on April 29, 2021. Additionally, Granite stated that no part of the distribution is considered effectively connected income for U.S. federal tax purposes.

Positive

• Monthly distribution of CAD $0.250 per stapled unit announced.
• Distribution date set for May 14, 2021, providing income to investors.
• No portion of the distribution is U.S. taxable income.

Negative

• None.

Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) announced today that its board of trustees has declared a distribution of CAD $0.250 per stapled unit for the month of April 2021. The distribution will be paid by Granite on May 14, 2021 to stapled unitholders of record at the close of trading on April 30, 2021. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Thursday, April 29, 2021 on the Toronto Stock Exchange and on the New York Stock Exchange.

Granite confirms that no portion of the distribution constitutes effectively connected income for U.S. federal tax purposes. A qualified notice providing the breakdown of the sources of the distribution will be issued to the Depository Trust & Clearing Corporation subsequent to the record date of April 30, 2021, pursuant to United States Treasury Regulation Section 1.1446-4.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 115 investment properties representing approximately 50.4 million square feet of leasable area.

OTHER INFORMATION

Copies of financial data and other publicly filed documents about Granite are available through the internet on the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com and on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov. For further information, please see our website at www.granitereit.com or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Manager, Legal & Investor Services, at 647-925-7504.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210416005557/en/

FAQ

What is the distribution amount declared by Granite for April 2021?

Granite declared a distribution of CAD $0.250 per stapled unit for April 2021.

When will Granite's April 2021 distribution be paid?

The distribution will be paid on May 14, 2021.

What date is the record for Granite's distribution in April 2021?

The record date for the distribution is April 30, 2021.

When will Granite's stapled units trade ex-dividend?

Stapled units will begin trading ex-dividend on April 29, 2021.

Is Granite's distribution considered U.S. taxable income?

No, the distribution does not constitute effectively connected income for U.S. federal tax purposes.