Brookfield Infrastructure Partners (BIP) has released an update.
Brookfield Infrastructure Partners L.P. has reported a robust first quarter in 2024, with a net income surge to $170 million from $23 million the previous year, and an 11% increase in funds from operations to $615 million, driven by inflation indexation and high-performing acquisitions. The company’s strategic capital recycling initiatives have netted $1.2 billion to date, positioning them well to meet their annual $2 billion target. Brookfield also announced a 6% increase in their quarterly distribution to $0.405 per unit.
For further insights into BIP stock, check out TipRanks’ Stock Analysis page.
