Dividend Contenders List: Top 15

8. Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Dividend Yield as of November 11: 4.63%

Brookfield Infrastructure Partners L.P. (NYSE:BIP) is a Canadian limited partnership that focuses on acquiring and managing infrastructure assets worldwide. The company is highly diversified, enabling it to generate cash flows from various business segments, including utilities, transport, midstream, and data centers. Since the start of 2024, the stock has surged by over 13%, and in the past 12 months, it delivered nearly 39% return. The company is gaining traction among investors due to its growing assets. As of September 30, it has over $105 billion available in total assets.

In the third quarter of 2024, Brookfield Infrastructure Partners L.P. (NYSE:BIP) reported revenue of $5.3 billion, up from $4.5 billion in the same period last year. The company’s cash position was also strong, generating nearly $1.2 billion in operating cash flow during the quarter, compared with $1.1 billion in the prior-year period. It ended the quarter with over $1.6 billion in cash and cash equivalents.

On September 12th, Brookfield Infrastructure Partners L.P. (NYSE:BIP) completed the tuck-in acquisition of 76,000 telecom tower sites in India, making it the largest telecom tower operator in the country and the second-largest globally, with a total of over 250,000 tower sites. This acquisition complements its existing operations, enhancing and diversifying its tenancies from India’s second and third-largest mobile network operators, while also providing significant operational synergies.

On November 6, Brookfield Infrastructure Partners L.P. (NYSE:BIP) declared a quarterly dividend of $0.405 per share, which fell in line with its previous dividend. In 2024, the company achieved its 16th consecutive year of dividend growth, which makes BIP one of the best stocks on our dividend contenders list. As of November 11, the stock has a dividend yield of 4.6%.