Monday, February 5, 2024

Dividend Increases - Brookfield Infrastructure (BIPC) & Brookfield Renewable (BEPC)

 



Thursday, February 1st the Board of Directors of Brookfield Infrastructure Partners L.P. (BIP) announced a quarterly distribution increase of from $0.3825 to $0.405 per share that’s payable March 29, 2024 to holders of record February 29, 2024. This distribution represents a 5.88% increase compared to the prior year.

In conjunction with the Partnership’s distribution declaration, the Board of Directors of BIPC has declared an equivalent quarterly dividend of $0.405 per share, also payable on March 29, 2024 to shareholders of record as at the close of business on February 29, 2024.


With current price $31.10 (yesterday's close), this raise brings their dividend yield to 5.21%.


BIP is a Dividend Contenders with a 17 year streak of distribution increases. Distribution growth rates for 1, 3, 5 and 10 years are 6.3, 5.8, 6.3 and 8.3 (Dividend Champions.xls)



Since I own 420 shares of BEPC, this will increase my portfolio's projected annual net dividend income by $28.16.


I was expecting an increase of around 5%, so this was was a little bit more and I'm happy to take it.


This is the sixth dividend increase I've received from Brookfield Infrastructure since initiating my first position in October 2018. During this period, the dividend has risen comfortably from $0.2848 to $0.405, or 42.2%.


This increase raises my yield on cost to 5.62%.




Friday, February 2nd the Board of Directors of Brookfield Renewable Partners L.P. (BEP) announced a quarterly distribution increase of from $0.3375 to $0.355 per share that’s payable March 28, 2024 to holders of record February 29, 2024. This represents a 5.19% increase over the last quarterly distribution.

In conjunction with the Partnership’s distribution declaration, the Board of Directors of BEPC have declared an equivalent quarterly dividend of $0.355 per share, also payable on March 28, 2024 to shareholders of record as at the close of business on February 29, 2024.


With current price $24.46 (yesterday's close), this raise brings their dividend yield to 5.81%.


BEP is a Dividend Contenders with a 15 year streak of distribution increases. Distribution growth rates for 1, 3, 5 and 10 years are 5.5, 5.3, 5.2 and 5.9 (Dividend Champions.xls)



Since I own 200 shares of BEPC, this will increase my portfolio's projected annual net dividend income by $10.43.


This increase was in line with my expectations.


This is the fifth dividend increase I have received from Brookfield Renewable since I started my first position in February 2019, during which time the dividend has increased by 29.3%, in line with my expectations, from $0.2745 to $0.355.


This increase raises my yield on cost to 5.49%.



Summary of 2024 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long BIPC and BEPC


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