Brookfield Infrastructure Partners L.P. (BIP) and its parent, Brookfield Infrastructure Corporation (BIPC), renewed their normal course issuer bids on November 28, 2025. The Toronto Stock Exchange approved the renewal, which will take effect on December 2, 2025 and run through December 1, 2026. The program gives BIP the right to repurchase up to 5 % of its issued and outstanding limited‑partnership units—23,062,017 units—and up to 10 % of each series of its preferred units. BIPC is authorized to buy back up to 10 % of the public float of its exchangeable shares—10,594,212 shares—under the same time frame.
BIP’s repurchase authority includes a daily cap of 25 % of the six‑month average daily trading volume, allowing a maximum of 101,883 LP units per day. The company has already repurchased 1,043,911 LP units year‑to‑date at a weighted average price of C$39.20, and has not repurchased any preferred units in the past 12 months. BIPC’s daily limit is 45,151 shares, and it has not executed any share buybacks under the current bid during the same period.
The renewal follows a strong third‑quarter 2025 earnings report in which Brookfield reported revenue of $5.98 billion—well above the $2.05 billion consensus—and earnings per share of $0.44, beating expectations by $0.16. The company’s funds from operations per unit rose 9 % to $0.83, driven by a 62 % increase in the data segment and solid performance in utilities and midstream. Management highlighted the company’s robust balance sheet and the opportunity to deploy excess liquidity into high‑return AI‑related infrastructure projects.
In addition to the bid renewal, Brookfield announced the redemption of all outstanding Series 3 preferred units at C$25.00 per unit, effective December 31, 2025. The redemption streamlines the capital structure and frees up capital that can be redirected into the share‑repurchase program or future acquisitions.
The combined actions—renewing the buyback authority, setting daily repurchase limits, and redeeming preferred units—provide Brookfield with a flexible, structured mechanism to return capital to shareholders while maintaining the ability to invest in growth opportunities. The program aligns with the company’s broader capital‑recycling strategy, which has already generated over $3 billion in asset‑sale proceeds and deployed more than $1.5 billion into new investments, including AI infrastructure.
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