This 4.3%-Yielding Dividend Stock Continues Enhancing its Ability Capture This $1 Trillion Opportunity
Data usage is growing exponentially. Digitalization and artificial intelligence (AI) are among the many catalysts driving demand for data. This trend is powering the need for more infrastructure to store and transmit data. According to one estimate, the global economy must spend $1 trillion over the next five years to upgrade its data infrastructure to support the increased flow of digital information.
That massive opportunity is driving Brookfield Infrastructure (NYSE: BIP)(NYSE: BIPC) to expand its data infrastructure platform to capture more of the sector's growth. It recently agreed to acquire another data center company, increasing its exposure to that fast-growing sector. These deals should give Brookfield the power to continue growing its 4.3%-yielding dividend.
Brookfield Infrastructure, its institutional partners, and existing investor Ontario Teachers' Pension Plan have agreed to acquire Compass Datacenters. While the buyers didn't disclose the purchase price, an earlier report suggested that the data center operator's current owners sought to sell the company for more than $5.5 billion.
Source Fool.com
