9 Best Monthly Dividend Stocks Canada

Here are 9 of the best monthly dividend stocks Canadian investors should consider:

1. Pembina Pipeline Corporation (PPL)
2. Realty Income Corporation (O)
3. RioCan Real Estate Investment Trust (REI.UN)
4. AGNC Investment Corp. (AGNC)
5. Slate Grocery REIT (SGR.UN)
6. Main Street Capital Corporation (MAIN)
7. Stag Industrial, Inc. (STAG)
8. NorthWest Healthcare Properties REIT (NWH.UN)
9. EPR Properties (EPR)

1. Pembina Pipeline Corporation (PPL)

Pembina Pipeline Corp Logo

Pembina Pipeline Corp

PPL
TSX

$49.57 CAD

  • -0.02
  • (0.04%)

Quote as of 06/18/2024 15:43 ET

  • $29,509,769,216 CAD

    Market Cap

  • 15.53x

    Enterprise Value to EBITDA

  • 15.11x

    Forward PE

Metrics as of 06/18/2024 09:50 ET


 

Pembina Pipeline Corporation (PPL) is a major player in the energy transportation and midstream services sector.

Their focus on sustainability creates reliable and safe solutions for the transportation and storage of oil and gas.

They have an extensive pipeline network that covers North America.

This allows for the efficient transfer of energy resources.

Plus, their strategically located and well-maintained infrastructure makes them a popular choice for many producers.

Pembina also provides midstream services, like natural gas gathering and processing.

Plus, storage facilities for crude oil and natural gas liquids.

This all-in-one approach supplies customers with end-to-end solutions.

In 2017, Pembina acquired Veresen Inc.

This strategic move enhanced their presence in the natural gas sector.

They even became a leader in developing liquefied petroleum gas export facilities, due to the global demand for clean energy.

2. Realty Income Corporation (O)

Realty Income Corp Logo

Realty Income Corp

O
NYSE

$53.12 USD

  • +0.05
  • (0.09%)

Quote as of 06/18/2024 15:45 ET

  • $46,473,207,808 USD

    Market Cap

  • 18.49x

    Enterprise Value to EBITDA

  • 33.78x

    Forward PE

Metrics as of 06/18/2024 09:50 ET


 

Realty Income Corporation (O) is well-known for its monthly dividends.

It offers investors a steady income with a large portfolio of real estate assets.

It specializes in various sectors, like retail, industrial and office spaces.

This diverse portfolio helps reduce risks associated with any single sector.

Plus, strong relationships with tenants, including wolrd-class brands guarantees continuous rental income.

It’s also renowned for increasing dividends every year for more than twenty years.

3. RioCan Real Estate Investment Trust (REI.UN)

RioCan Real Estate Investment Trust Logo

RioCan Real Estate Investment Trust

REI.UN
TSX

$16.46 CAD

  • -0.07
  • (0.42%)

Quote as of 06/18/2024 15:45 ET

  • $5,017,682,432 CAD

    Market Cap

  • 17.19x

    Enterprise Value to EBITDA

  • 8.39x

    Forward PE

Metrics as of 06/18/2024 10:10 ET


 

RioCan Real Estate Investment Trust (REI.UN) is a prominent trust that pays consistent monthly dividends.

It boasts a diversified portfolio of properties across Canada, making it a reliable choice for investors looking for regular income.

Investing in REI.UN allows individuals to gain from its real estate holdings’ stable cash flow.

It has retail, office, and residential properties that collect rental income during different economic cycles.

REI.UN also takes a proactive approach to market changes.

By using sustainable practices and modern technologies, the trust increases the value of its properties and its long-term growth potential.

Before investing in REI.UN, it is important to evaluate factors such as location, tenant quality, and lease agreements.

This analysis can give insight into the stability and profitability of the trust’s properties.

4. AGNC Investment Corp. (AGNC)

AGNC Investment Corp Logo

AGNC Investment Corp

AGNC
NASDAQ

$9.73 USD

  • +0.01
  • (0.05%)

Quote as of 06/18/2024 15:43 ET

  • $7,116,635,136 USD

    Market Cap

  • N/A

    Enterprise Value to EBITDA

  • 4.97x

    Forward PE

Metrics as of 06/18/2024 09:50 ET


 

AGNC Investment Corp. is a REIT that provides residential mortgage securities.

It has a monthly dividend distribution, making it attractive to investors looking for regular income.

Its portfolio mainly consists of agency MBS, backed by Fannie Mae and Freddie Mac.

AGNC also focuses on risk-management.

It uses hedging strategies to defend against rate changes, protecting its portfolio and investor returns.

5. Slate Grocery REIT (SGR.UN)

Slate Grocery REIT Logo

Slate Grocery REIT

SGR.UN
TSX

$11.25 CAD

  • +0.02
  • (0.18%)

Quote as of 06/18/2024 15:28 ET

  • $659,316,224 CAD

    Market Cap

  • 21.57x

    Enterprise Value to EBITDA

  • 7.43x

    Forward PE

Metrics as of 06/18/2024 09:55 ET


 

Slate Grocery REIT (SGR.UN) stands out in the market due to its focus on real estate related to grocery companies.

This provides stable and essential returns for investors.

Not only does it generate passive income, but it also offers exposure to the growing grocery sector.

Individuals can take advantage of the increasing demand for well-located grocery properties.

These are resilient even during economic downturns.

The company is also committed to sustainability and environmental responsibility.

It manages its portfolio to minimize environmental impact and reduce energy consumption.

6. Main Street Capital Corporation (MAIN)

Main Street Capital Corp Logo

Main Street Capital Corp

MAIN
NYSE

$49.72 USD

  • +0.15
  • (0.31%)

Quote as of 06/18/2024 15:44 ET

  • $4,229,207,808 USD

    Market Cap

  • N/A

    Enterprise Value to EBITDA

  • 12.49x

    Forward PE

Metrics as of 06/18/2024 09:55 ET


 

Main Street Capital Corporation (MAIN) is a great monthly dividend stock to consider.

It has a good track record of providing stable income from its investments in mid-market companies.

It has experience and expertise in providing financing solutions for business growth.

MAIN has a disciplined investment approach.

It focuses on businesses with strong cash flow, good management, and competitive advantages.

This helps MAIN reduce risks and offer consistent returns for shareholders.

It actively supports the growth of its portfolio companies.

It uses its network, industry knowledge, and operational knowledge to help them reach their full potential.

By aligning with their success, MAIN creates a win-win situation.

7. Stag Industrial, Inc. (STAG)

STAG Industrial Inc Logo

STAG Industrial Inc

STAG
NYSE

$35.60 USD

  • +0.06
  • (0.17%)

Quote as of 06/18/2024 15:44 ET

  • $6,537,056,768 USD

    Market Cap

  • 17.07x

    Enterprise Value to EBITDA

  • 36.61x

    Forward PE

Metrics as of 06/18/2024 09:55 ET


 

STAG Industrial, Inc. (STAG) is an intriguing stock with monthly dividends.

It specializes in single-tenant industrial properties across America, with 460+ properties in 38 states.

Investors looking for stability and income should consider STAG.

Its focus on industrial gives it an edge.

This niche has growing demand for e-commerce and logistics infrastructure.

So, STAG has consistent rental income and potential growth.

STAG also has strong financial performance.

It has consistent earnings and steady dividends.

8. NorthWest Healthcare Properties REIT (NWH.UN)

NorthWest Healthcare Properties Real Estate Investment Trust Logo

NorthWest Healthcare Properties Real Estate Investment Trust

NWH.UN
TSX

$4.78 CAD

  • -0.02
  • (0.42%)

Quote as of 06/18/2024 15:45 ET

  • $1,202,699,392 CAD

    Market Cap

  • 17.38x

    Enterprise Value to EBITDA

  • 5.28x

    Forward PE

Metrics as of 06/18/2024 09:55 ET


 

NorthWest Healthcare Properties REIT (NWH.UN) is a healthcare-focused real estate investment trust that offers investors the chance to gain from steady cash flows, generated by long-term leases with reliable tenants.

NWH has a diversified portfolio of quality properties all over the world, including Canada, Brazil, Germany, Australia, and New Zealand.

Plus, NorthWest Healthcare Properties REIT has demonstrated a track record of delivering consistent dividends every month.

It’s noteworthy that NWH focuses exclusively on healthcare properties, which is an industry known for its stability and durability even during hard times.

The ongoing need for healthcare services guarantees a steady occupancy rate and reliable rental income for the company.

9. EPR Properties (EPR)

EPR Properties Logo

EPR Properties

EPR
NYSE

$40.67 USD

  • +0.02
  • (0.05%)

Quote as of 06/18/2024 15:44 ET

  • $3,051,876,096 USD

    Market Cap

  • 11.46x

    Enterprise Value to EBITDA

  • 15.39x

    Forward PE

Metrics as of 06/18/2024 10:00 ET


 

EPR Properties (EPR) is a unique Real Estate Investment Trust (REIT) that specializes in entertainment, recreation, and education properties.

The company has a diverse portfolio, including movie theaters, ski resorts, and charter schools.

Its focus on those sectors provides a consistent cash flow stream.

Despite economic downturns, like the 2008 Global Financial Crisis and the recent pandemic-induced recession, it has maintained its dividend payments.

When many companies were cutting dividends, EPR chose not to reduce or suspend its dividends, despite challenges faced by its tenants.

What is a Monthly Dividend Stock?

Monthly dividend stocks are an investment that give shareholders regular income each month.

Unlike traditional stocks that pay dividends quarterly or yearly, monthly dividend stocks give investors a part of the company’s profits each month.

This is great for people who need steady income and want to diversify their investments.

There are many advantages to investing in monthly dividend stocks.

Firstly, the frequent payout allows for easier budgeting and covering of expenses.

These stocks usually attract investors looking for dependable income.

Furthermore, monthly dividend stocks can lead to compounding returns.

By reinvesting dividends, investors can purchase more shares and get a better return in the long run.

This is ideal for long-term investors wanting to grow their wealth.

It is important to remember that not all companies offer monthly dividends.

To ensure consistent payments, investors should research the company’s track record beforehand.

Key Considerations When Investing in Monthly Dividend Stocks

Investing in monthly dividend stocks needs careful thought.

Check the firm’s stability and constancy of dividend payments.

Look for companies that always pay dividends each month.

Moreover, assess the company’s financial health and profitability.

This impacts its ability to keep regular dividend payments.

Evaluate the stock yield.

This represents the annual income generated by the stock in relation to its current price.

A higher yield can be attractive, but research as to why it’s high.

It may be due to a falling stock price or an unsustainable dividend rate.

Diversifying your investments is key.

Spread them across sectors and industries to lessen risks if certain companies or sectors experience a dip.

This provides more stable returns and defends against volatility in certain industries.

Lastly, evaluate your long-term investment objectives when picking monthly dividend stocks.

Some investors may favour income generation, while others aim for growth potential.

Examining how each stock fits with your investment goals helps you make informed decisions.

Overall, investing in monthly dividend stocks necessitates evaluating factors such as dividend stability, financial health, diversification, and alignment with long-term goals.

Looking at these factors could help build a well-rounded investment portfolio that generates consistent income over time.

Lady looking at her budget with coins in front of her

Frequently Asked Question

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DISCLAIMER: This is not investment advice. Recommendations are for educational purposes only, presented as a path for you to further research. Please seek independent financial advice before making any financial decisions. PiggyBank is not liable for any investment decisions you make based on the information presented on this website.