Brookfield Infrastructure Corp – said on November 1, 2023 that its board of directors declared a regular quarterly dividend of $0.38 per share ($1.53 annualized). Previously, the company paid $0.38 per share.
Shares must be purchased before the ex-div date of November 29, 2023 to qualify for the dividend. Shareholders of record as of November 30, 2023 will receive the payment on December 29, 2023.
At the current share price of $30.62 / share, the stock’s dividend yield is 5.00%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.42%, the lowest has been 1.90%, and the highest has been 6.19%. The standard deviation of yields is 0.67 (n=168).
The current dividend yield is 2.37 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.23. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 497 funds or institutions reporting positions in Brookfield Infrastructure Corp -. This is a decrease of 5 owner(s) or 1.00% in the last quarter. Average portfolio weight of all funds dedicated to BIPC is 0.16%, a decrease of 1.19%. Total shares owned by institutions increased in the last three months by 1.78% to 82,669K shares. The put/call ratio of BIPC is 1.29, indicating a bearish outlook.
What are Other Shareholders Doing?
Brookfield Asset Management holds 13,013K shares representing 9.72% ownership of the company. No change in the last quarter.
Bank Of Montreal holds 3,647K shares representing 2.72% ownership of the company. In it’s prior filing, the firm reported owning 2,972K shares, representing an increase of 18.51%. The firm decreased its portfolio allocation in BIPC by 68.00% over the last quarter.
FCPVX – Fidelity Small Cap Value Fund holds 2,968K shares representing 2.22% ownership of the company. In it’s prior filing, the firm reported owning 2,168K shares, representing an increase of 26.96%. The firm increased its portfolio allocation in BIPC by 40.56% over the last quarter.
Royal Bank Of Canada holds 2,736K shares representing 2.04% ownership of the company. In it’s prior filing, the firm reported owning 2,702K shares, representing an increase of 1.25%. The firm decreased its portfolio allocation in BIPC by 6.95% over the last quarter.
Confluence Investment Management holds 2,528K shares representing 1.89% ownership of the company. In it’s prior filing, the firm reported owning 2,557K shares, representing a decrease of 1.11%. The firm decreased its portfolio allocation in BIPC by 23.33% over the last quarter.
Brookfield Infrastructure Background Information
(This description is provided by the company.)
Brookfield Infrastructure Corporation is a Canadian corporation, created to provide investors with greater flexibility in how they access BIP’s globally diversified portfolio of high-quality infrastructure assets. Class A shares of BIPC are structured to provide an economic return equivalent to BIP units though a traditional corporate structure. Each BIPC Class A share has same distribution as a BIP unit, and is exchangeable, at the shareholders option, for one BIP unit.
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