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

Granite Real Estate Inc. Staple (NYSE:GRP.U) declared 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 %

GRP.U stock opened at $45.49 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $45.73 and a two-hundred day moving average price of $49.28. The company has a market cap of $2.83 billion and a price-to-earnings ratio of 12.71. Granite Real Estate Inc. Staple has a twelve month low of $38.37 and a twelve month high of $65.63.

Wall Street Analyst Weigh In

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.