Granite REIT Declares Distribution for July 2021

Rhea-AI Summary

Granite Real Estate Investment Trust (GRP.U), announced a CAD $0.250 monthly distribution for July 2021, payable on August 16, 2021, to unitholders on record as of July 30, 2021. The stapled units will trade ex-dividend starting July 29, 2021, on both the Toronto and New York Stock Exchanges. The distribution does not qualify as effectively connected income for U.S. federal tax purposes. Granite owns 115 properties across North America and Europe, totaling approximately 50.4 million square feet of leasable area.

Positive

• Monthly distribution of CAD $0.250 per stapled unit indicates consistent cash flow.
• Granite owns 115 properties, totaling 50.4 million square feet of leasable area, reflecting strong asset base.

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• 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 July 2021. The distribution will be paid by Granite on August 16, 2021 to stapled unitholders of record at the close of trading on Friday, July 30, 2021. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Thursday, July 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 July 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/20210716005476/en/

FAQ

What is the distribution amount declared by Granite Real Estate Investment Trust for July 2021?

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

When will the distribution from Granite be paid to unitholders?

The distribution will be paid on August 16, 2021.

What is the ex-dividend date for Granite's July 2021 distribution?

The ex-dividend date is July 29, 2021.

What properties does Granite Real Estate Investment Trust own?

Granite owns 115 investment properties representing approximately 50.4 million square feet of leasable area.

Is any part of Granite's distribution considered effectively connected income for U.S. tax purposes?

No portion of the distribution constitutes effectively connected income for U.S. federal tax purposes.