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Granite REIT Declares Distribution for December 2022
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Granite Real Estate Investment Trust (NYSE: GRPU) has declared a distribution of CDN $0.2667 per stapled unit for December 2022. This payment will be issued on January 17, 2023 to unitholders of record as of December 30, 2022. The units will trade on an ex-dividend basis starting December 29, 2022. Furthermore, no part of the distribution is considered effectively connected income for U.S. federal tax purposes, ensuring tax implications remain clear for investors. Granite owns 141 investment properties across North America and Europe.
Positive
Declared a monthly distribution of CDN $0.2667 per stapled unit.
The distribution payment date is set for January 17, 2023.
Clear tax implications outlined for U.S. investors.
Negative
None.
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 $0.2667 per stapled unit for the month of December 2022. The distribution will be paid by Granite on Tuesday, January 17, 2023 to stapled unitholders of record at the close of trading on Friday, December 30, 2022. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Thursday, December 29, 2022 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 December 30, 2022, 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 141 investment properties representing approximately 58.8 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, Associate Director, Legal & Investor Services, at 647-925-7504.
