Granite REIT Declares Distribution for March 2021

Rhea-AI Summary

Granite Real Estate Investment Trust (TSX: GRT.UN / NYSE: GRP.U) has declared a distribution of CAD $0.250 per stapled unit for March 2021, payable on April 15, 2021, to unit holders of record by March 31, 2021. The units will trade ex-dividend starting March 30, 2021. Additionally, the distribution is not considered effectively connected income for U.S. federal tax, and a qualified notice will be issued post-record date. Granite operates in logistics and industrial property management, owning over 114 properties across North America and Europe.

Positive

• Monthly distribution of CAD $0.250 per stapled unit confirms ongoing shareholder returns.
• Granite manages over 114 properties, indicating a significant asset base in industrial real estate.

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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 March 2021. The distribution will be paid by Granite on April 15, 2021 to stapled unitholders of record at the close of trading on March 31, 2021. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Tuesday, March 30, 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 31, 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 114 investment properties representing approximately 49.4 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, Manager, Legal & Investor Services, at 647-925-7504.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210317005842/en/

FAQ

What is the upcoming distribution for Granite Real Estate Investment Trust?

Granite has declared a distribution of CAD $0.250 per stapled unit for March 2021.

When will Granite's distribution be paid to unitholders?

The distribution will be paid on April 15, 2021.

When do stapled units of Granite start trading ex-dividend?

The stapled units will start trading on an ex-dividend basis on March 30, 2021.

Is the distribution from Granite considered effectively connected income for U.S. tax purposes?

No, Granite confirms that no portion of the distribution is effectively connected income for U.S. federal tax purposes.