Granite REIT Declares Distribution for December 2024

Rhea-AI Summary

Granite Real Estate Investment Trust has announced its monthly distribution for December 2024. The company will pay CDN $0.2833 per unit to unitholders of record as of December 31, 2024. The payment will be distributed on January 15, 2025. The company confirmed that no portion of the distribution constitutes effectively connected income for U.S. federal tax purposes. A qualified notice detailing the distribution sources will be issued to the Depository Trust & Clearing after the record date.

Positive

• Consistent monthly distribution maintained at CDN $0.2833 per unit

Negative

• None.

Insights

Financial Analyst

This monthly distribution announcement from Granite REIT maintains their consistent CDN $0.2833 per unit payout. For income-focused investors, the stability in distribution signals continued operational reliability. The REIT's commitment to maintaining its distribution schedule and amount demonstrates strong cash flow management and financial health. The clarification regarding U.S. federal tax implications provides important transparency for cross-border investors. The continuation of regular distributions at this level indicates management's confidence in the REIT's ability to generate sustainable income from its industrial real estate portfolio.

TORONTO--(BUSINESS WIRE)-- Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) announced today that its board of trustees has declared a distribution of CDN $0.2833 per unit for the month of December 2024. The distribution will be paid by Granite on Wednesday, January 15, 2025 to unitholders of record at the close of trading on Tuesday, December 31, 2024.

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 December 31, 2024, 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 143 investment properties representing approximately 63.3 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 Data Analysis and Retrieval+ (SEDAR+) which can be accessed at www.sedarplus.ca 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, Associate Director, Legal & Investor Services, at 647-925-7504.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241217588880/en/

Teresa Neto

Chief Financial Officer

647-925-7560

Andrea Sanelli

Associate Director, Legal & Investor Services

647-925-7504

Source: Granite Real Estate Investment Trust

FAQ

What is Granite REIT's December 2024 distribution amount?

Granite REIT declared a distribution of CDN $0.2833 per unit for December 2024.

When is the payment date for Granite REIT's December 2024 distribution?

The December 2024 distribution will be paid on Wednesday, January 15, 2025.

What is the record date for Granite REIT's December 2024 distribution?

The record date is Tuesday, December 31, 2024, at the close of trading.

Does Granite REIT's December 2024 distribution include effectively connected income for U.S. tax purposes?

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