TORONTO, Dec. 17, 2013 /CNW/ - Granite Real Estate Investment Trust ("Granite") (TSX: GRT.UN / NYSE:
GRP.U) announced today that its board of trustees has approved an increase to
Granite's monthly distribution to CDN$0.183 per stapled unit to reflect
a targeted annualized distribution of CDN$2.20 per stapled unit, up
from the current annualized rate of CDN$2.10 per stapled unit.
Pursuant to this approved increase, Granite's board of trustees has
declared a distribution on Granite's stapled units of CDN$0.183 per
stapled unit. The distribution will be paid by Granite on January 15,
2014 to stapled unitholders of record at the close of trading on
December 31, 2013. The stapled units will begin trading on an
ex-dividend basis at the opening of trading on December 27, 2013 on the
Toronto Stock Exchange and the New York Stock Exchange.
Granite is a Canadian-based REIT engaged in the ownership and management
of predominantly industrial properties in North America and Europe.
Granite owns approximately 32 million square feet and over 100
properties. Our tenant base currently includes Magna International Inc.
and its operating subsidiaries as our largest tenants, together with
tenants from other industries.
Copies of financial data and other publicly filed documents are
available through the internet on Canadian Securities Administrators'
Systems 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 Tom Heslip, Chief Executive Officer, at 647-925-7539 or
Michael Forsayeth, Chief Financial Officer, at 647-925-7600.
This press release may contain statements that, to the extent they are
not recitations of historical fact, constitute ''forward-looking
statements'' or "forward-looking information" within the meaning of
applicable securities legislation, including the United States
Securities Act of 1933, as amended, the United States Securities
Exchange Act of 1934, as amended, and applicable Canadian securities
legislation. Forward-looking statements and forward-looking
information may include, among others, statements regarding Granite's
future plans, goals, strategies, intentions, beliefs, estimates, costs,
objectives, economic performance or expectations, or the assumptions
underlying any of the foregoing. Words such as ''may'', ''would'',
''could'', ''will'', ''likely'', ''expect'', ''anticipate'',
''believe'', ''intend'', ''plan'', ''forecast'', ''project'',
''estimate'', "seek" and similar expressions are used to identify
forward-looking statements and forward-looking information.
Forward-looking statements and forward-looking information should not
be read as guarantees of future events, performance or results and will
not necessarily be accurate indications of whether or the times at or
by which such future performance will be achieved. Undue reliance
should not be placed on such statements. Forward-looking statements
and forward-looking information are based on information available at
the time and/or management's good faith assumptions and analyses made
in light of our perception of historical trends, current conditions and
expected future developments, as well as other factors we believe are
appropriate in the circumstances, and are subject to known and unknown
risks, uncertainties and other unpredictable factors, many of which are
beyond Granite's control, that could cause actual events or results to
differ materially from such forward-looking statements and
forward-looking information. Important factors that could cause such
differences include, but are not limited to the risks set forth in the
annual information form of Granite Real Estate Investment Trust and
Granite REIT Inc. dated March 5, 2013 (the "Annual Information Form").
The ''Risk Factors'' section of the Annual Information Form also
contains information about the material factors or assumptions
underlying such forward-looking statements and forward-looking
information. Forward-looking statements and forward-looking
information speak only as of the date the statements and information
were made and unless otherwise required by applicable securities laws,
Granite expressly disclaims any intention and undertakes no obligation
to update or revise any forward-looking statements or forward-looking
information contained in this press release to reflect subsequent
information, events or circumstances or otherwise.
SOURCE: Granite REIT
For further information:
For further information, please see our website at www.granitereit.com or contact Tom Heslip, Chief Executive Officer, at 647-925-7539 or Michael Forsayeth, Chief Financial Officer, at 647-925-7600.