Granite REIT Declares Distribution for February 2022

Rhea-AI Summary

Granite Real Estate Investment Trust (NYSE: GRPU) has declared a monthly distribution of CDN $0.2583 per stapled unit for February 2022. The payment will be made on March 15, 2022, to unitholders of record as of February 28, 2022. The units will trade ex-dividend from February 25, 2022. Notably, no part of this distribution qualifies as effectively connected income for U.S. tax purposes. Granite, engaged in logistics and industrial property management, owns 126 investment properties with approximately 53.3 million square feet of leasable area.

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• Declared a consistent monthly distribution of CDN $0.2583 per stapled unit.
• Granite owns 126 investment properties representing approximately 53.3 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 $0.2583 per stapled unit for the month of February 2022. The distribution will be paid by Granite on Tuesday, March 15, 2022 to stapled unitholders of record at the close of trading on Monday, February 28, 2022. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Friday, February 25, 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 February 28, 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 126 investment properties representing approximately 53.3 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 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/20220217005731/en/

Teresa Neto, Chief Financial Officer

647-925-7560

or

Andrea Sanelli, Associate Director, Legal & Investor Services

647-925-7504

Source: Granite Real Estate Investment Trust

FAQ

What is the distribution amount for Granite Real Estate Investment Trust in February 2022?

Granite Real Estate Investment Trust declared a distribution of CDN $0.2583 per stapled unit for February 2022.

When will the distribution be paid to unitholders of Granite?

The distribution will be paid on March 15, 2022, to unitholders of record as of February 28, 2022.

What signifies the ex-dividend date for Granite's February distribution?

The ex-dividend date for Granite's February distribution is February 25, 2022.

Does any portion of Granite's distribution constitute effectively connected income for U.S. tax purposes?

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

How many investment properties does Granite Real Estate Investment Trust own?

Granite owns 126 investment properties representing approximately 53.3 million square feet of leasable area.