BIPC - 3 Top Dividend Stocks to Double Up on Right Now
2024-05-26 05:07:00 ET
Stocks that pay regular and growing dividends can make your money grow manifold and create solid wealth over time. That is why you shouldn't lose any opportunity to double up on promising dividend stocks . Right now, the following three stocks look like particularly enticing buys, with all three boasting impressive dividend track records and targeting steady annual dividend growth.
Brookfield Infrastructure (NYSE: BIP) (NYSE: BIPC) is a globally diversified company that acquires and operates infrastructure assets like utilities, railroads, toll roads, energy pipelines, and data infrastructure. Since almost 90% of Brookfield Infrastructure's funds from operations (FFO) are from contracted or regulated sources, it can generate steady cash flows even when the economy is in turmoil. That aside, the company also sells assets as they mature and reinvests the proceeds in new projects. This asset recycling strategy has worked well for Brookfield Infrastructure so far, leaving it with enough cash to not only invest in growth but also increase its dividend every year for the past 15 years.
Brookfield Infrastructure is a no-brainer dividend stock to buy right now. After it grew FFO per unit by 9% in 2023, management projected 2024 to be"an even better year." The company recently reported 11% year-over-year growth in FFO for its first quarter, including organic growth of 7%. It expects to sell assets worth $2 billion this year and is eyeing several acquisitions, including telecom towers in India.
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3 Top Dividend Stocks to Double Up on Right Now