BIPC - This Brilliant High-Yield Dividend Stock is About to Shift Into a Higher Gear
2023-11-02 06:29:00 ET
Brookfield Infrastructure (NYSE: BIP) (NYSE: BIPC) is having another very solid year. The global infrastructure operator is growing its earnings at a healthy clip, mainly driven by a couple of notable organic growth drivers.
The company's already solid growth rate is about to get a meaningful boost from recently completed acquisitions. That will give the company more fuel to continue growing its dividend, which yields a very attractive 6.7% these days.
Brookfield Infrastructure generated $560 million of funds from operations ( FFO ) during the third quarter. That was up 7% compared to last year. The company benefited from the strong underlying performance of its existing infrastructure businesses, most of which can raise rates in line with inflation. It also got a boost from completing $1 billion of capital projects over the past year.
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This Brilliant High-Yield Dividend Stock is About to Shift Into a Higher Gear