Granite REIT Declares Distribution for May 2024

Rhea-AI Summary

Granite Real Estate Investment Trust (TSX: GRT.UN / NYSE: GRP.U) has declared a CDN $0.275 per stapled unit distribution for May 2024. The distribution is scheduled for payment on June 14, 2024, to unitholders recorded as of May 31, 2024. The distribution does not constitute effectively connected income for U.S. federal tax purposes. Details on the sources of the distribution will be provided to the Depository Trust & Clearing post the record date.

Positive

• Declared distribution of CDN $0.275 per unit for May 2024.
• Payment date set for June 14, 2024, ensuring timely return for investors.
• Clear tax implications stated, avoiding effectively connected income for U.S. federal tax purposes.
• Qualified notice on distribution breakdown to be issued, ensuring transparency.

Negative

• No new business development or expansion mentioned.

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 May 2024. The distribution will be paid by Granite on Friday, June 14, 2024 to stapled unitholders of record at the close of trading on Friday, May 31, 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 May 31, 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/20240517508042/en/

Teresa Neto

Chief Financial Officer

647-925-7560



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 REIT for May 2024?

Granite REIT has declared a distribution of CDN $0.275 per stapled unit for May 2024.

When will Granite REIT pay the May 2024 distribution?

The May 2024 distribution will be paid on June 14, 2024.

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

The record date for the May 2024 distribution is May 31, 2024.

Does the Granite REIT distribution constitute effectively connected income for U.S. federal tax purposes?

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

What is Granite REIT’s stock symbol?

Granite REIT's stock symbols are TSX: GRT.UN and NYSE: GRP.U.