Macquarie Infrastructure (MIC) Declares $1 Quarterly Dividend; 8.9% Yield

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Go back to Macquarie Infrastructure (MIC) Declares $1 Quarterly Dividend; 8.9% Yield

MIC Reports Second Quarter 2018 Financial Results, Cash Dividend Of $1.00 Per Share

August 1, 2018 5:15 PM EDT

NEW YORK, Aug. 1, 2018 /PRNewswire/ -- Macquarie Infrastructure Corporation (NYSE: MIC) reported its financial results for the second quarter of 2018 in line with expectations.

Net income increased 39.4% to $36.3 million from $26.0 million in the second quarter of 2017 (the prior comparable period) on unrealized gains on derivative instruments (versus losses in 2017), a reduction in management fees and lower taxes.

Adjusted Proportionately Combined EBITDA excluding non-cash items of $170.8 million was down 2.9% versus the prior comparable period reflecting primarily a reduced contribution from IMTT, as forecast.

Cash generated by operating activities was... More