Tuesday 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. GRP.
The company announced on Wednesday that it would pay shareholders a monthly dividend of 25.83 cents per share. On Wednesday, 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 25.83 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, Wednesday. Shareholders who own GRP/U as of the end of Tuesday's session are eligible to receive the 25.83 cents dividend payout for every share that they own.
According to the company, this dividend will be paid out to shareholders on July 15, 2022. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.
To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.
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