Financial Data and Key Metrics Changes - For Q2 2024, Brookfield Infrastructure generated funds from operations (FFO) of $608 million, a 10% increase compared to the same period last year [3] - The utilities segment reported FFO of $180 million, down from $224 million year-over-year, primarily due to capital recycling activities [4] - The transport segment saw FFO rise to $319 million, a 60% increase year-over-year, driven by acquisitions and tariff increases [5] - The midstream segment generated FFO of $143 million, benefiting from strong demand and customer activity [6] - The data segment reported FFO of $78 million, reflecting an 8% increase year-over-year due to contributions from recent acquisitions [7] Business Line Data and Key Metrics Changes - Utilities segment FFO decreased due to capital recycling and increased interest costs, although organic growth was noted from inflation indexation and new capital [4] - Transport segment FFO increased significantly due to the acquisition of a global intermodal logistics operation and strong performance in Brazilian rail operations [5] - Midstream segment FFO growth was attributed to high demand in North American gas storage and new commercial agreements [6] - Data segment growth was driven by acquisitions and strong leasing activity in data centers [7] Market Data and Key Metrics Changes - The company noted a favorable market environment for capital markets, completing approximately $5 billion in non-recourse financings [8][9] - The company has a strong balance sheet with only 1% of asset-level debt maturing in the next 12 months and no corporate maturities until 2027 [10] Company Strategy and Development Direction - The company is focusing on tuck-in and organic growth opportunities due to a slower start in public and private infrastructure deal flow [11] - A significant acquisition pipeline exists, with seven follow-on acquisitions completed in 2024, totaling nearly $4 billion in enterprise value [12] - The company is investing over $1 billion in growth capital for data centers and expanding its midstream operations [13] - The company is well-positioned to capitalize on trends in digitalization and decarbonization, particularly in AI infrastructure [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the back half of 2024 for M&A activity, driven by improved interest rates and industry tailwinds [13] - The company is actively pursuing capital recycling, with expectations to generate approximately $2.5 billion from asset sales [14] - Management highlighted the importance of maintaining a strong balance sheet and liquidity to support growth initiatives [17] Other Important Information - The company has a project backlog that has increased by 15% year-over-year to approximately $7.7 billion [12] - The company is engaged in discussions with technology companies to leverage its infrastructure for AI and other applications [16] Q&A Session Summary Question: Opportunities tied to AI across data, utility, and midstream - Management discussed the ecosystem around AI infrastructure, including data centers and power transmission [18][19] Question: Capital appetite for AI-related opportunities - Management indicated a strong appetite for capital deployment, potentially sourcing tens of billions for AI-related transactions [21][22] Question: M&A market heating up and asset sale proceeds - Management confirmed intentions to redeploy asset sale proceeds into higher-earning investments [30][31] Question: Midstream sector M&A activity - Management acknowledged the midstream sector's attractiveness and potential for new investments [35] Question: Update on data center development pipeline - Management provided insights into ongoing construction activities across various global locations [37][38]

Core Viewpoint - Income-focused investors still have solid options for dividend investments despite the S&P 500 rallying, with Schwab U.S. Dividend Equity ETF, Brookfield Infrastructure, and Clearway Energy identified as attractive choices [2]. Group 1: Schwab U.S. Dividend Equity ETF - The S&P 500 index currently yields approximately 1.3%, while Schwab U.S. Dividend Equity ETF offers a yield of around 3.4%, more than double that of the S&P 500 [3][5]. - The ETF provides a high-quality list of vetted dividend stocks with regular updates, making it a simple investment option [4][12]. - The ETF has a low expense ratio of 0.06% and a diversified portfolio across various sectors, including financials (17%), healthcare (15%), and consumer staples (13%) [13]. Group 2: Brookfield Infrastructure - Brookfield Infrastructure's share price has decreased nearly 30% over the past year, despite a 25% rally in the S&P 500, resulting in a dividend yield close to 6% [6]. - The company anticipates growing its funds from operations (FFO) by over 10% this year, projecting at least $3.25 per share of FFO [7][14]. - Brookfield has a low valuation, trading at about 10.5 times its forward earnings, which is roughly a 50% discount compared to the S&P 500's forward P/E ratio of 21.7 [7]. - The company has increased its dividend for 15 consecutive years and expects to raise it by 5% to 9% annually, aligning with its organic growth rate target [8][15]. Group 3: Clearway Energy - Clearway Energy offers a dividend yield of 6.7% and is down about 16% over the past year, despite being in a high-potential industry [9]. - The company targets annual dividend growth of 5% to 8% through 2026, expecting to achieve the upper range of its guidance without external capital [10]. - Clearway Energy is well-positioned in the renewable energy sector, generating stable cash flows from long-term contracts, which supports its dividend growth [16][17].

Financial Data and Key Metrics Changes - The company generated funds from operations (FFO) of $615 million, representing an 11% increase over the prior year period, driven by 7% organic growth and contributions from over $2 billion of capital deployed in the previous year [36][28][41] - FFO from the Transport segment was $302 million, a 57% increase year-over-year, largely due to the acquisition of Triton and increased global demand for containers [39][40] - The Midstream segment generated FFO of $170 million, comparable to the prior year after excluding capital recycling impacts, with a compound annual growth rate of over 20% in the past five years [41][42] Business Line Data and Key Metrics Changes - Utilities generated FFO of $190 million, down from $208 million in the same period last year, primarily due to capital recycling initiatives [37] - The Data segment's FFO was $68 million, comparable to the same period last year, benefiting from acquisitions offset by the sale of a New Zealand business [24] - The Transport segment's fleet utilization increased to over 98%, securing attractive rates on long-duration leases [40][39] Market Data and Key Metrics Changes - The balance of transport operations grew by 10%, driven by inflationary tariff increases and higher volumes, with rail networks and toll roads realizing average rate increases of 9% and 7% respectively [23] - Traffic levels on roads increased by 4%, and diversified terminals recorded 7% higher volumes [23] Company Strategy and Development Direction - The company is focused on capital recycling, having secured $1.2 billion in proceeds, with a target of $2 billion annually [28] - The investment pipeline remains full, with a focus on high-risk adjusted returns, particularly in the data and decarbonization sectors [31][75] - The company is pursuing both organic growth and M&A opportunities, with a significant portion of new investments related to data and decarbonization trends [75][77] Management's Comments on Operating Environment and Future Outlook - Management noted that market conditions have improved, with increased M&A activity expected [28] - The long-term outlook for the global economy remains positive, despite potential volatility in the near term due to interest rate fluctuations and geopolitical issues [50][51] - The company believes its strong business performance and strategic outlook outweigh near-term interest rate concerns [53][54] Other Important Information - The company has a strong financial position, with over 90% of its capital structure fixed rate and an average term of seven years [48] - The company expects less than $600 million of asset-level maturities in 2024 to have higher borrowing costs than current levels [48] Q&A Session Summary Question: Can you provide specifics on Triton's performance and its ongoing expectations? - Triton is performing well above expectations, with fleet utilization over 98% and attractive rates on long-duration leases [40][39] Question: What is the outlook for the M&A market and asset monetization? - The company is being selective in M&A, focusing on opportunities with high returns, and may accelerate asset monetizations to cushion capital [88][102] Question: How is the company leveraging decarbonization and digitalization trends? - Approximately 30% of current FFO is from decarbonization and data sectors, with 80% of capital projects focused on these areas [77][75]

Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with over $900 billion of assets under management. For more information, go to https://brookfield.com. Market conditions have continued to improve during 2024. Activity levels for M&A processes have increased, and as a result, the environment for transacting should be more balanced this year as compared to the prior year. We have made significant progress on our capital ...

Many have called data the new oil. The digital economy runs on data. Information is crucial to digital technology, especially artificial intelligence (AI) applications. And that means the world needs more infrastructure to support the movement and processing of data."We're in a once-in-a-generation investment cycle for data centers at the moment," stated Felix Chan, a speaker at Brookfield Infrastructure's (BIPC -0.78%) (BIP -1.24%) annual investor day last year. Chan noted that companies need to invest ove ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 OR ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ☒ ACT OF 1934 for the fiscal year ended December 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 Commiss ...

Investing a little money in dividend-paying stocks can really add up over time. The best ones can supply you with a steadily growing income stream and solid price appreciation. Further, because most brokers don't charge commission, you can easily buy a share or two whenever you have cash to spare.Enbridge (ENB 0.39%) and Brookfield Infrastructure (BIPC 1.55%) (BIP 0.76%) are no-brainer buys for those with less than $200 to invest right now. Here's why they could turn that relatively small sum into a much bi ...

Some companies simply have a knack for rewarding their shareholders. They pay above-average-yielding dividends that grow each year. Enterprise Products Partners (EPD 0.96%), NextEra Energy (NEE -0.42%), and Brookfield Infrastructure (BIPC 0.72%) (BIP -0.19%) stand out to three Fool.com contributors for their incredible ability to pay dividends. Here's why they think these are great dividend stocks to buy right now and hold for a potential lifetime of income. Enterprise owns necessary midstream assetsReuben ...

I love investing in dividend-paying stocks. I really like seeing the passive income from those payments flow into my portfolio, giving me more cash to buy shares of companies that pay dividends. I believe my love of dividends will pay off by eventually supplying enough passive income so I can comfortably retire.While I own lots of dividend stocks, Realty Income (O -2.18%), Brookfield Infrastructure (BIPC -6.07%) (BIP -6.01%), and Clearway Energy (CWEN -3.05%) (CWEN.A -3.09%) are three of my favorites. Here' ...

Higher interest rates have been a double whammy on dividend stocks over the past several quarters. They increase companies' borrowing costs. On top of that, these higher rates weighed on the valuations of companies that pay higher-yielding dividends. Higher rates make lower-risk income investments (think bonds and bank CDs) more attractive. As a result, dividend stock prices need to fall, pushing their yields higher. That higher yield compensates investors for their higher risk profiles. The sell-off in div ...