Granite Real Estate Inc. (NYSE:GRP.U) Declares Dividend Increase - $0.21 Per Share

Key Points

• Granite Real Estate Inc. has announced a monthly dividend of $0.21 per share, which represents a 0.5% increase from the previous dividend of $0.20.
• The ex-dividend date is set for September 29th, with payment scheduled for October 15th, 2023.
• Granite Real Estate's stock price fell by 1.1% to $55.10 during mid-day trading, with a market capitalization of $3.38 billion.

Granite Real Estate Inc. (NYSE:GRP.U - Get Free Report) declared a monthly dividend on Wednesday, September 17th, Wall Street Journal reports. Shareholders of record on Monday, September 29th will be paid a dividend of 0.206 per share on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, September 29th. This is a 0.5% increase from Granite Real Estate's previous monthly dividend of $0.20.

Granite Real Estate Stock Performance

Shares of NYSE:GRP.U traded up $0.46 on Friday, reaching $55.59. 40,667 shares of the company's stock were exchanged. Granite Real Estate has a twelve month low of $38.37 and a twelve month high of $65.63. The company has a fifty day moving average of $55.43 and a 200-day moving average of $50.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Granite Real Estate Company Profile

Granite Real Estate Investment Trust is engaged in the ownership and management of predominantly industrial properties in Canada, the United States, Mexico and Europe. The Company owns and manages rental income properties. Its services include sourcing and real estate acquisition, site development, assisting with government approvals and re-zoning to specific uses, build-to-suit construction, property renovation, project management and long-term leasing.