Fintel reports that on April 13, 2023, Wells Fargo maintained coverage of Brookfield Infrastructure Corporation Subordinate Voting Shares (NYSE:BIPC) with a Overweight recommendation.
Brookfield Infrastructure Corporation Subordinate Voting Shares Declares $0.38 Dividend
On February 2, 2023 the company declared a regular quarterly dividend of $0.38 per share ($1.53 annualized). Shareholders of record as of February 28, 2023 received the payment on March 31, 2023. Previously, the company paid $0.00 per share.
At the current share price of $45.29 / share, the stock's dividend yield is 3.38%. Looking back five years and taking a sample every week, the average dividend yield has been 3.35%, the lowest has been 1.90%, and the highest has been 6.19%. The standard deviation of yields is 0.63 (n=142).
The current dividend yield is 0.05 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.16. 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 has not increased its dividend in the last three years.
What are Other Shareholders Doing?
RTSSX - Tax-Managed U.S. Mid & Small Cap Fund Class S holds 18K shares representing 0.02% ownership of the company.
FLXSX - Fidelity Flex Small Cap Index Fund holds 11K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 10K shares, representing an increase of 5.34%. The firm decreased its portfolio allocation in BIPC by 1.53% over the last quarter.
Lantz Financial holds 40K shares representing 0.04% ownership of the company. In it's prior filing, the firm reported owning 40K shares, representing an increase of 0.22%. The firm increased its portfolio allocation in BIPC by 108,407.36% over the last quarter.
DFA INVESTMENT DIMENSIONS GROUP INC - International Social Core Equity Portfolio Institutional Class holds 16K shares representing 0.01% ownership of the company. No change in the last quarter.
Brighthouse Funds Trust II - Brighthouse holds 7K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 12K shares, representing a decrease of 74.53%. The firm decreased its portfolio allocation in BIPC by 51.56% over the last quarter.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in Brookfield Infrastructure Corporation Subordinate Voting Shares. This is an increase of 23 owner(s) or 4.78% in the last quarter. Average portfolio weight of all funds dedicated to BIPC is 0.15%, an increase of 1.53%. Total shares owned by institutions increased in the last three months by 6.52% to 78,927K shares. 
The put/call ratio of BIPC is 1.21, indicating a bearish outlook.
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.
See all Brookfield Infrastructure Corporation Subordinate Voting Shares regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
