Granite REIT Declares Distribution for March 2023

Rhea-AI Summary

Granite Real Estate Investment Trust (NYSE: GRPU) declared a distribution of CDN $0.2667 per stapled unit for March 2023. The payment will be made on April 14, 2023 to unitholders recorded by March 31, 2023. Trading ex-dividend starts on March 30, 2023. Granite confirms that no part of the distribution is effectively connected income for U.S. federal tax purposes. A qualified notice detailing the distribution sources will follow the record date, complying with U.S. Treasury regulations. Granite manages 140 investment properties across North America and Europe, totaling about 59.4 million square feet.

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• Declared a monthly distribution of CDN $0.2667 per stapled unit.
• Strong asset base with ownership of 140 properties totaling 59.4 million square feet.

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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 March 2023. The distribution will be paid by Granite on Friday, April 14, 2023 to stapled unitholders of record at the close of trading on Friday, March 31, 2023. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Thursday, March 30, 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 March 31, 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 140 investment properties representing approximately 59.4 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/20230317005234/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 declared by Granite (GRPU) for March 2023?

Granite has declared a distribution of CDN $0.2667 per stapled unit for March 2023.

When will Granite's (GRPU) distribution be paid?

The distribution will be paid on April 14, 2023.

What is the record date for Granite's (GRPU) distribution?

The record date for the distribution is March 31, 2023.

When will Granite's (GRPU) units start trading ex-dividend?

Granite's units will start trading on an ex-dividend basis on March 30, 2023.

Does Granite's (GRPU) distribution include U.S. federal tax income?

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