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

Granite Real Estate Inc. Staple (NYSE:GRP.U) announced a monthly dividend on Tuesday, February 18th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.1997 per share on Friday, March 14th. This represents a $2.40 annualized dividend and a yield of 4.94%. The ex-dividend date is Friday, February 28th. This is a boost from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20.

Granite Real Estate Inc. Staple Stock Performance

Shares of NYSE GRP.U opened at $48.53 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. Granite Real Estate Inc. Staple has a 1 year low of $45.45 and a 1 year high of $65.63. The firm has a 50-day simple moving average of $48.54 and a two-hundred day simple moving average of $53.09.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research report 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.