Granite REIT Declares Distribution for June 2021

Rhea-AI Summary

Granite Real Estate Investment Trust (TSX: GRT.UN / NYSE: GRP.U) has declared a distribution of CAD $0.250 per stapled unit for June 2021. This payment will be made on July 15, 2021, to unitholders recorded by the close of trading on June 30, 2021. Trading on an ex-dividend basis will commence on June 29, 2021. Furthermore, Granite confirms that this distribution does not constitute effectively connected income for U.S. federal tax purposes. The company manages logistics and industrial properties across North America and Europe, owning 115 properties totaling approximately 50.4 million square feet.

Positive

• Declared a distribution of CAD $0.250 per stapled unit for June 2021, reflecting ongoing returns to investors.
• Ownership of 115 investment properties contributing to a sizable portfolio of approximately 50.4 million square feet.

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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 June 2021. The distribution will be paid by Granite on July 15, 2021 to stapled unitholders of record at the close of trading on Wednesday, June 30, 2021. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Tuesday, June 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 June 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/20210617005876/en/

FAQ

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

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

When will the distribution be paid to unitholders of Granite?

The distribution will be paid on July 15, 2021.

What is the record date for the distribution of Granite?

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

What does ex-dividend mean in relation to Granite's stapled units?

Granite's stapled units will begin trading on an ex-dividend basis on June 29, 2021.

Does the distribution from Granite constitute U.S. effectively connected income?

No, Granite confirms that no portion of the distribution constitutes effectively connected income for U.S. federal tax purposes.