Granite Real Estate Inc. Stapled Units, each consisting of one unit of Granite Real Estate Trust and one common share of Granite REIT Inc.'s Ex-Dividend Date Is Monday, Here's What You Need To Know

Friday marks the last chance for investors to receive the next dividend payout from Granite Real Estate Inc. Stapled Units, each consisting of one unit of Granite Real Estate Trust and one common share of Granite REIT Inc. (NYSE:GRP).

What's Happening

The company announced on Thursday that it would pay shareholders a monthly dividend of 26.67 cents per share. On Monday, Granite Real Estate Inc. Stapled Units, each consisting of one unit of Granite Real Estate Trust and one common share of Granite REIT Inc. will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 26.67 cents lower than it would have opened on any other day.

In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Monday. Shareholders who own GRP/U as of the end of Friday's session are eligible to receive the 26.67 cents dividend payout for every share that they own.

According to the company, this dividend will be paid out to shareholders on March 15, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.

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