Granite REIT Declares Distribution for November 2024

Rhea-AI Summary

Granite Real Estate Investment Trust has announced its monthly distribution of CDN $0.275 per unit for November 2024. The distribution will be paid on December 16, 2024, to unitholders of record as of November 27, 2024. The company confirmed that no portion of the distribution constitutes effectively connected income for U.S. federal tax purposes.

Positive

• Maintaining consistent monthly distribution payments to unitholders

Negative

• None.

Insights

Financial Analyst

This monthly distribution announcement of CDN $0.275 per unit represents Granite REIT's commitment to delivering consistent returns to unitholders. The REIT's ability to maintain its distribution level signals stable cash flows from their industrial real estate portfolio. For income-focused investors, the predictable monthly payout schedule and clear tax treatment guidance for U.S. investors are positive aspects. The distribution's timing and amount align with the REIT's historical pattern, suggesting operational stability and reliable income generation from their property 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 $0.275 per unit for the month of November 2024. The distribution will be paid by Granite on Monday, December 16, 2024 to unitholders of record at the close of trading on Wednesday, November 27, 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 November 27, 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/20241115074976/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 the November 2024 distribution amount for Granite REIT (GRP.U)?

Granite REIT declared a distribution of CDN $0.275 per unit for November 2024.

When is the payment date for Granite REIT's (GRP.U) November 2024 distribution?

The November 2024 distribution will be paid on Monday, December 16, 2024.

What is the record date for Granite REIT's (GRP.U) November 2024 distribution?

The record date is Wednesday, November 27, 2024, at the close of trading.

Does Granite REIT's (GRP.U) November 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.