Granite REIT Declares Distribution for February 2023

Rhea-AI Summary

Granite Real Estate Investment Trust has announced a monthly distribution of CDN $0.2667 per stapled unit for February 2023. The distribution will be paid on March 15, 2023 to unit holders recorded at the close of trading on February 28, 2023. Ex-dividend trading will commence on February 27, 2023. Notably, no portion of this distribution is considered effectively connected income for U.S. federal tax purposes. Granite operates 141 properties across North America and Europe, totaling approximately 58.8 million square feet of leasable area.

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• Monthly distribution of CDN $0.2667 per stapled unit declared.
• Granite owns 141 properties totaling approximately 58.8 million square feet of leasable area.

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• 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 February 2023. The distribution will be paid by Granite on Wednesday, March 15, 2023 to stapled unitholders of record at the close of trading on Tuesday, February 28 2023. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Monday, February 27, 2023, 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 February 28, 2023, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005609/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 monthly distribution amount for GRPU in February 2023?

The monthly distribution amount declared for GRPU in February 2023 is CDN $0.2667 per stapled unit.

When will the distribution for GRPU be paid?

The distribution for GRPU will be paid on March 15, 2023.

What is the ex-dividend date for GRPU's February 2023 distribution?

The ex-dividend date for GRPU's February 2023 distribution is February 27, 2023.

Is any portion of the GRPU distribution subject to U.S. federal tax?

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

How many properties does Granite Real Estate Investment Trust own?

Granite Real Estate Investment Trust owns 141 properties.