GRPU Granite Reit

Filed: 16 Apr 21, 5:17pm
Exhibit 99.1

Granite REIT Declares Distribution for April 2021

TORONTO--(BUSINESS WIRE)--April 16, 2021--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 April 2021. The distribution will be paid by Granite on May 14, 2021 to stapled unitholders of record at the close of trading on April 30, 2021. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Thursday, April 29, 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 April 30, 2021, pursuant to United States Treasury Regulation Section 1.1446-4.


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 115 investment properties representing approximately 50.4 million square feet of leasable area.


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 and on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at For further information, please see our website at or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Manager, Legal & Investor Services, at 647-925-7504.


Teresa Neto
Chief Financial Officer


Andrea Sanelli
Manager, Legal & Investor Services