Granite REIT Declares Distribution for June 2024

Rhea-AI Summary

Granite Real Estate Investment Trust (TSX: GRT.UN / NYSE: GRP.U) has declared a distribution of CDN $0.275 per stapled unit for June 2024. This distribution will be paid on July 15, 2024, to unitholders of record as of June 28, 2024. Granite also noted that no part of this distribution will be considered effectively connected income for U.S. federal tax purposes. A detailed breakdown of the distribution sources will be issued to the Depository Trust & Clearing after the record date, in accordance with United States Treasury Regulation Section 1.1446-4.

Positive

• Granite declared a distribution of CDN $0.275 per stapled unit for June 2024.
• Distribution to be paid on July 15, 2024, offering predictable income.
• No portion of the distribution is effectively connected income for U.S. federal tax purposes, simplifying tax implications for U.S. investors.

Negative

• The distribution is only for CDN $0.275 per unit, which may be seen as a modest return.
• Investors must wait until July 15, 2024, to receive the distribution, which could affect short-term liquidity.

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 stapled unit for the month of June 2024. The distribution will be paid by Granite on Monday, July 15, 2024 to stapled unitholders of record at the close of trading on Friday, June 28, 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 June 28, 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/20240617493610/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 REIT in June 2024?

The distribution amount for Granite REIT in June 2024 is CDN $0.275 per stapled unit.

When will the June 2024 distribution for Granite REIT be paid?

The June 2024 distribution for Granite REIT will be paid on July 15, 2024.

What is the record date for Granite REIT’s June 2024 distribution?

The record date for Granite REIT’s June 2024 distribution is June 28, 2024.

Is any portion of Granite REIT’s June 2024 distribution considered effectively connected income for U.S. federal tax purposes?

No, no portion of Granite REIT’s June 2024 distribution is considered effectively connected income for U.S. federal tax purposes.

What is the stock symbol for Granite REIT?

Granite REIT is listed on TSX under GRT.UN and on NYSE under GRP.U.