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This Top Dividend Stock's $9 Billion Acquisition Will Give It More Fuel to Grow Its High-Yielding Payout
Brookfield Infrastructure (NYSE: BIPC)(NYSE: BIP) and its institutional partners have struck a $9 billion deal to acquire Colonial Enterprises. That company owns the Colonial Pipeline, one of the largest refined products systems in the country. It produces very stable cash flow as gasoline and other refined products flow from Texas to markets along the U.S. East Coast. That cash flow will support Brookfield Infrastructure's growing high-yielding dividend (4.7% current yield).Colonial Enterprises owns a world-class midstream asset portfolio. The Colonial Pipeline is the crown jewel. That pipeline system spans 5,500 miles, running from the country's refining hub in Houston, Texas to New York's harbor. It transports 100 million gallons of fuel each day, including gasoline, jet fuel, diesel, and heating oil. These refined petroleum products are crucial to fueling the economy along the Eastern Seaboard. Continue reading
Brookfield Infrastructure (NYSE: BIPC)(NYSE: BIP) and its institutional partners have struck a $9 billion deal to acquire Colonial Enterprises. That company owns the Colonial Pipeline, one of the largest refined products systems in the country. It produces very stable cash flow as gasoline and other refined products flow from Texas to markets along the U.S. East Coast.
That cash flow will support Brookfield Infrastructure's growing high-yielding dividend (4.7% current yield).
Colonial Enterprises owns a world-class midstream asset portfolio. The Colonial Pipeline is the crown jewel. That pipeline system spans 5,500 miles, running from the country's refining hub in Houston, Texas to New York's harbor. It transports 100 million gallons of fuel each day, including gasoline, jet fuel, diesel, and heating oil. These refined petroleum products are crucial to fueling the economy along the Eastern Seaboard.
