Granite REIT Announces October 2024 Distribution
Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) has made an exciting announcement regarding its upcoming distribution for October 2024. The board of trustees has declared a distribution of CDN $0.275 per unit. This distribution is a part of Granite's ongoing commitment to providing value to its unitholders.
Details of the Distribution
Unitholders can expect this distribution to be paid on Friday, November 15, 2024. To be eligible for this distribution, investors must ensure their names are on the record by the close of trading on Thursday, October 31, 2024. This structured approach provides investors with certainty regarding their expected returns.
Understanding Tax Implications
Granite also confirmed that no part of this distribution is considered effectively connected income for U.S. federal tax purposes. This clarification is essential for investors to understand the tax ramifications of their investments, especially for those operating across borders.
Qualified Notice for Investors
Following the record date, Granite will issue a qualified notice that outlines the breakdown of sources for this distribution. This notice will be communicated to the Depository Trust & Clearing Corporation, in compliance with specific U.S. Treasury regulations, ensuring transparency for all stakeholders involved.
About Granite Real Estate Investment Trust
Granite is not just a leading name in real estate — it is a Canadian-based Real Estate Investment Trust (REIT) actively engaged in acquiring, developing, owning, and managing logistics, warehouse, and industrial properties across North America and Europe. With a diversified portfolio, Granite proudly owns 143 investment properties that together offer approximately 63.3 million square feet of leasable area. This diversification not only enhances property value but also ensures sustainable revenue streams for unitholders.
Commitment to Transparency
Granite's commitment to transparency is reflected in its accessibility to financial data and other publicly filed documents. Interested parties can locate this information through the Canadian Securities Administrators’ System for Electronic Data Analysis and Retrieval+ (SEDAR+) and the U.S. Securities and Exchange Commission’s Electronic Data Gathering, Analysis, and Retrieval System (EDGAR). This availability of data reinforces Granite's dedication to maintaining an open line of communication with investors.
Contact Information
For any queries or additional information, stakeholders can reach out directly. Teresa Neto, Chief Financial Officer, can be contacted at 647-925-7560, while Andrea Sanelli, Associate Director, Legal & Investor Services, is available at 647-925-7504. This proactive approach ensures that all inquiries are handled efficiently, highlighting Granite's commitment to investor relations.
Frequently Asked Questions
What is the declared distribution amount for October 2024?
The declared distribution amount for October 2024 is CDN $0.275 per unit.
When will the distribution be paid to unitholders?
The distribution will be paid on Friday, November 15, 2024.
What is the record date for the distribution?
The record date to be eligible for the distribution is Thursday, October 31, 2024.
How does this distribution affect U.S. federal tax?
No portion of the distribution is considered effectively connected income for U.S. federal tax purposes.
Who can I contact for more information about Granite REIT?
For more information, you can contact Teresa Neto at 647-925-7560 or Andrea Sanelli at 647-925-7504.
