Granite REIT Declares Distribution for February 2021

Rhea-AI Summary

Granite Real Estate Investment Trust (GRT.UN, GRP.U) has declared a monthly distribution of CAD $0.250 per stapled unit for February 2021. This payment will be made on March 15, 2021, to unitholders of record as of March 1, 2021. The stapled units will start trading ex-dividend on February 26, 2021. Notably, this distribution does not qualify as U.S. federal tax-connected income. Granite operates primarily in logistics, owning over 110 properties across North America and Europe, totaling around 47 million square feet of leasable area.

Positive

• Declared monthly distribution of CAD $0.250 per stapled unit.
• Strong property portfolio with over 110 investment properties in North America and Europe.

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• None.

Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) announced today that its board of trustees has declared a distribution of CAD $0.250 per stapled unit for the month of February 2021. The distribution will be paid by Granite on March 15, 2021 to stapled unitholders of record at the close of trading on March 1, 2021. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Friday, February 26, 2021 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 1, 2021, 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 over 110 investment properties representing approximately 47 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, Manager, Legal & Investor Services, at 647-925-7504.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210217006017/en/

FAQ

When will GRT.UN distribute its February 2021 payment?

Granite will distribute its February 2021 payment on March 15, 2021.

What is the amount of the distribution declared by Granite for GRT.UN?

The distribution amount declared by Granite for GRT.UN is CAD $0.250 per stapled unit.

What is the record date for the GRT.UN February distribution?

The record date for the GRT.UN February distribution is March 1, 2021.

When will GRT.UN units begin trading ex-dividend?

GRT.UN units will begin trading ex-dividend on February 26, 2021.

Does the distribution from GRT.UN qualify as U.S. federal tax-connected income?

No, the distribution from GRT.UN does not constitute effectively connected income for U.S. federal tax purposes.