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Granite REIT Declares Monthly Distribution for December 2018 and Special Distribution
Granite REIT Declares Monthly Distribution for December 2018 and Special Distribution ...
About this update from Granite Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nGranite REIT Declares Monthly Distribution for December 2018 and Special Distribution\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 17, 2018\n\n\n\nTORONTO, Dec. 17, 2018 /CNW/ - Granite Real Estate Investment Trust (\"Granite\") (TSX: GRT.UN / NYSE: GRP.U) announced today that its board of trustees has declared a monthly distribution of CDN$0.233 per stapled unit. The monthly distribution will be paid by Granite on January 15, 2019 to stapled unitholders of record at the close of trading on December 31, 2018.\nGranite's board of trustees has also declared a special distribution of CDN$1.200 per stapled unit, which will comprise CDN$0.300 per stapled unit payable in cash and CDN$0.900 per stapled unit payable by the issuance of stapled units based on the closing market price of the stapled units on the Toronto Stock Exchange on December 31, 2018. The cash portion of the special distribution is intended to provide liquidity to unitholders to cover all or part of any non-resident withholding taxes or other income tax obligations that may arise from the additional taxable income being distributed via the special distribution. Concurrently with the issuance of stapled units pursuant to the special distribution, the outstanding stapled units of Granite will be consolidated such that each unitholder will hold, after the consolidation, the same number of stapled units as such stapled unitholder held before the special distribution. The special distribution will be made by Granite on January 15, 2019 and will be payable at the close of trading on December 31, 2018 to stapled unitholders of record at that time.\nThe stapled units will begin trading on an ex-dividend basis at the opening of trading on Friday, December 28, 2018 on the Toronto Stock Exchange and on the New York Stock Exchange.\nTAX CONSIDERATIONSGranite cautions that these comments are not intended to be, and should not be construed as, legal or tax advice to any particular unitholder. Granite recommends that unitholders consult their own tax advisors regarding th...