BIPC - Why I Just Bought More of This Magnificent Dividend Stock
2023-04-15 07:15:00 ET
Brookfield Infrastructure Partners (NYSE: BIP) has been a magnificent investment over the years. The global infrastructure operator has grown its funds from operations ( FFO ) per unit at an 11% compound annual rate over the last decade. Meanwhile, it has expanded its distribution to investors at a 9% compound annual rate. Those dual growth drivers have helped power superior total returns. Brookfield Infrastructure Partners has generated a 13.7% annualized return over the last decade, outpacing the S&P 500 's 12.1% average annual total return.
The company remains as attractive an investment as ever. Because of that, I recently padded my position by adding even more units to my portfolio. Here's why I keep buying more of this magnificent dividend stock .
While Brookfield Infrastructure Partners has been a strong performer over the long term, it has fallen along with most other stocks during the current bear market. Units are down about 24% over the past year. What's interesting is that they have fallen a lot further than shares of its corporate twin Brookfield Renewable Corporation (NYSE: BIPC) :
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Why I Just Bought More of This Magnificent Dividend Stock