Most people have never heard of Macquarie Infrastructure Corp (NYSE:MIC), but the company offers one of the biggest cash payouts in the entire stock market. Headquartered in New York City, Macquarie Infrastructure owns and operates a portfolio of infrastructure and infrastructure-like businesses in the United States.
What is impressive, though, is the company’s ability to generate free cash flow. You see, Macquarie Infrastructure Corp generated $327.0 million in adjusted free cash flow from continuing operations in the first nine months of 2019. To put that in perspective, the company paid $258.0 million in dividends for this period. As a result, MIC stock had a payout ratio of 78.9%. Now, here’s the neat part. Other than collecting a hefty dividend, there might be another way for Macquarie Infrastructure stock investors to get paid. On the same day as its third-quarter earnings report, Macquarie Infrastructure announced that it would pursue strategic alternatives, including the sale of the company or its operating businesses in an effort to unlock value for shareholders.
Source: Income Investors
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