BIP Investment Corporation Announces Special Meeting Outcomes
BIP Investment Corporation (TSX: BIK.PR.A) recently conducted a special meeting for holders of its Series 1 Preferred Shares, attracting significant interest
on the results of the voting. The virtual meeting provided a platform for shareholders to express their opinions and concerns regarding the future of their investments.
Results of the Special Meeting
During the meeting, a special resolution was proposed to allow BIPIC to redeem the Preferred Shares at any time, given a notice period of at least three business days. This resolution received a resounding majority, with 80.30% of votes cast in favor of the motion.
The detailed voting results illustrate the strong support for the redemption plan among shareholders; a total of 451,956 votes were cast in favor, while 110,901 votes opposed the action.
BIPIC's Intention to Redeem Preferred Shares
BIP Investment Corporation has announced its definitive plan to redeem all outstanding Preferred Shares for cash on December 5. The redemption price for each share is set at C$26.75, a figure that many investors find appealing given the stability in cash returns. This also guarantees that holders will receive their previously declared dividend, adding another layer of value to their investment.
Investment and Dividend Benefits
As of November 29, holders of these Preferred Shares will be entitled to receive a dividend of $0.4671875, payable on the same redemption date. Such dividends ensure that investors continue to receive a return while the redemption process is finalized, illustrating BIPIC’s commitment to rewarding its shareholders.
About Brookfield Infrastructure
Brookfield Infrastructure serves as a leading global infrastructure entity, investing across various sectors, including utilities, transport, midstream, and data services. Investors seeking exposure can engage via Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN) or the Brookfield Infrastructure Corporation (NYSE, TSX: BIPC). This diverse portfolio is crafted to generate predictable and regulated revenue, ensuring that cash flows remain stable.
Global Reach and Portfolio Strength
With a robust presence across the Americas, Asia Pacific, and Europe, Brookfield Infrastructure is strategically positioned to capitalize on long-term growth opportunities. Its integral focus on high-quality assets has been foundational to its sustained success and resilience in fluctuating market conditions.
Contact Information
BIPIC makes it a priority to maintain open communication with stakeholders. For media inquiries, contact:
Media Contact: Simon Maine, Managing Director, Corporate Communications, Tel: +44 739 890 9278, Email: simon.maine@brookfield.com
Investor Relations: Stephen Fukuda, Senior Vice President, Corporate Development & Investor Relations, Tel: +1 416 956 5129, Email: stephen.fukuda@brookfield.com
Frequently Asked Questions
What are the outcomes of BIPIC's recent special meeting?
BIPIC announced significant backing from shareholders regarding the redemption of Series 1 Preferred Shares, with over 80% voting in favor.
What is the redemption date for the Preferred Shares?
The redemption for all outstanding Preferred Shares is set for December 5.
What will happen to the previously declared dividend?
Holders of the Preferred Shares will receive their declared dividend of $0.4671875 per share alongside the redemption payment.
How is Brookfield Infrastructure positioned in the market?
Brookfield Infrastructure is recognized globally, focusing on long-term contracts and regulated revenues that stabilize cash flow.
How can investors access more information about BIPIC?
Investors can explore BIP's variety of offerings through Brookfield Infrastructure Partners and Brookfield Infrastructure Corporation's respective platforms.
