Granite REIT Declares Distribution for May 2021

Rhea-AI Summary

Granite Real Estate Investment Trust (TSX: GRT.UN / NYSE: GRP.U) declared a distribution of CAD $0.250 per stapled unit for May 2021. This distribution will be paid on June 15, 2021, to unitholders of record as of the close of trading on May 28, 2021. The stapled units will begin trading on an ex-dividend basis on May 27, 2021. Additionally, Granite confirms that no portion of the distribution is considered effectively connected income for U.S. federal tax purposes, with further details to be provided in a qualified notice.

Positive

• CAD $0.250 distribution per stapled unit for May 2021.
• Distribution payment schedule provides liquidity to unitholders.

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 May 2021. The distribution will be paid by Granite on June 15, 2021 to stapled unitholders of record at the close of trading on May 28, 2021. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Thursday, May 27, 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 May 28, 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/20210517005932/en/

FAQ

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

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

When will the distribution be paid to unitholders of Granite?

The distribution will be paid on June 15, 2021, to unitholders of record at the close of trading on May 28, 2021.

When will Granite's stapled units begin trading on an ex-dividend basis?

Granite's stapled units will begin trading on an ex-dividend basis on May 27, 2021.

Is any portion of Granite's distribution considered U.S. federal taxable income?

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