BIPC - This Top Dividend Stock's High-Powered Growth Makes it a Great Buy
Brookfield Infrastructure (NYSE: BIP) (NYSE: BIPC) recently reported strong fourth-quarter and full-year results. That enabled the global infrastructure giant to increase its dividend by another 6%. It has now grown its payout for 14 straight years.
Brookfield sees more growth ahead. Here's a look at last year's strong showing and what it sees coming down the pipeline for 2023 and beyond.
Brookfield Infrastructure delivered excellent results in the fourth quarter, growing its funds from operations ( FFO ) to a record $556 million, or $0.72 per share (up 14.4% overall and 10.% on a per-share basis). That helped drive FFO to $2.1 billion, or $2.71 per share for the full year -- a 20% increase from 2022 or 12% on a per-share basis -- with equal contributions from organic growth drivers and acquisitions.
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This Top Dividend Stock's High-Powered Growth Makes it a Great Buy