Granite Real Estate Inc. Staple (NYSE:GRP.U) to Issue Dividend Increase - $0.20 Per Share

Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report) announced a monthly dividend on Monday, April 21st, Wall Street Journal reports. Shareholders of record on Wednesday, April 30th will be given a dividend of 0.2042 per share on Thursday, May 15th. This represents a $2.45 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend is Wednesday, April 30th. This is a 3.0% increase from Granite Real Estate Inc. Staple's previous monthly dividend of $0.20.

Granite Real Estate Inc. Staple Stock Down 0.3 %

Shares of Granite Real Estate Inc. Staple stock traded down $0.12 on Friday, reaching $45.49. 4,081 shares of the company were exchanged, compared to its average volume of 14,314. The stock's 50 day moving average price is $45.73 and its 200-day moving average price is $49.33. The company has a market cap of $2.83 billion and a P/E ratio of 12.71. Granite Real Estate Inc. Staple has a 1-year low of $38.37 and a 1-year high of $65.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34.

Analyst Ratings Changes

Separately, StockNews.com upgraded Granite Real Estate Inc. Staple from a "buy" rating to a "strong-buy" rating in a research note on Thursday, January 16th.

About Granite Real Estate Inc. Staple

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.