11 Best Monthly Dividend Stocks Canada

PiggyBank Staff | September 14, 2023
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Searching for stocks that are reliable and have a dependable income stream? Knowing which dividend stocks the experts are buying can help boost your investments.

Here are 11 of the best monthly dividend stocks Canadian investors should consider adding to their portfolio:

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

Here’s a list of eleven monthly dividend stocks worth considering:

1. Shaw Communications Inc. (SJR.B.TO)

Shaw Communications Inc. (SJR.B.TO) is a top telecoms firm. They offer cable TV, internet, and mobile plans. Their solid financials make them a great pick for investors who want monthly dividends.

Their success is down to smart investments in network infrastructure and tech. By regularly improving and widening coverage, Shaw Communications gives quality services.

They also value customer satisfaction. This commitment has earned them loyal customers and consistent revenue growth.

Investors can get attractive dividends from Shaw Communications. Investing in them means you get regular income, plus potential gains over time. The company’s operations and cash flow make it a safe choice for those seeking returns.

For the best results, here are some tips:

  1. Diversify your portfolio with dividend-paying stocks from various sectors. This reduces risk and gives a balanced strategy.
  2. Track market trends and developments in telecoms. Review Shaw Communications’ performance and check for any risks or opportunities. Doing this helps you stay ahead.

2. Pembina Pipeline Corporation (PPL.TO)

Pembina Pipeline Corporation (PPL.TO) 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 strategic location 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. It gave them more assets and increased their capabilities. They even became a leader in developing liquefied petroleum gas export facilities, due to the global demand for clean energy.

In conclusion, Pembina Pipeline Corporation (PPL.TO) is a great choice in the monthly dividend stocks category. They have industry know-how, a strong infrastructure, and a commitment to sustainability. Investors searching for stable returns with potential growth should look into Pembina.

3. Realty Income Corporation (O)

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. Investing in this company can provide reliable cash flow.

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 famous brands, guarantee continuous rental income.

It’s also renowned for increasing dividends every year for more than twenty years. This promise demonstrates their success and their loyalty to shareholders.

Take Jane Smith’s story as an example. She is a retiree who depends on dividend income. After researching and receiving advice, she invested in Realty Income Corporation. Now she enjoys regular monthly dividends, which cover her costs and allow her to follow her dreams of traveling and giving back to charity.

4. RioCan Real Estate Investment Trust (REI.UN.TO)

RioCan Real Estate Investment Trust (REI.UN.TO) is a prominent stock 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.TO allows individuals to gain from its real estate holdings’ stable cash flow. It has retail, office, and residential properties that maintain rental income during different economic cycles.

REI.UN.TO 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.TO, 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.

Staying informed about Canadian real estate trends can help investors make informed decisions when investing in REI.UN.TO. Monitoring interest rates, consumer spending patterns, and demographic trends can provide valuable data on risks and opportunities.

Overall, REI.UN.TO is a great choice for investors due to its regular monthly dividends and stability. Through thorough research and monitoring of market trends, investors can maximize their returns from this reputable monthly dividend stock.

5. AGNC Investment Corp. (AGNC)

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. This reduces the risk of non-payment of interest and principal.

The company is renowned for its consistent dividend payments to shareholders. This gives investors the ability to dependably generate cash flow. AGNC also focuses on risk-management. It uses hedging strategies to defend against rate changes, protecting its portfolio and investor returns.

Seeking Alpha’s analysis shows AGNC’s resilience, even in tough economic times. This highlights its skill in dealing with market volatility.

6. Slate Grocery REIT (SGR.UN.TO)

Slate Grocery REIT (SGR.UN.TO) is an exceptional monthly dividend stock. It stands out in the market due to its focus on grocery properties. 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. This demonstrates their dedication to long-term strategies with a conscious mindset.

The track record of Slate Grocery REIT is impressive. According to [source name], it has demonstrated steady growth in both its FFO and NOI. This makes it a top choice for investors seeking reliable monthly dividend stocks.

7. Main Street Capital Corporation (MAIN)

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 gain 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.

Investing in MAIN offers many benefits. It has a history of paying dividends, and high dividend yields. This is attractive for investors seeking a regular income.

Pro Tip: Research is important when looking at MAIN or other monthly dividend stocks. Evaluate the performance and stability of the company. Understand its business model, investment strategy, and track record. This will help you make better decisions and get maximum returns.

8. Stag Industrial, Inc. (STAG)

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, STAG is reliable.

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. This makes it a great choice for investors wanting consistent income.

9. NorthWest Healthcare Properties REIT (NWH.UN.TO)

NorthWest Healthcare Properties REIT (NWH.UN.TO) is an awesome pick for those seeking monthly dividend stocks! Let’s have a look at why this stock is so special.

This healthcare-focused real estate investment trust offers investors the chance to gain from steady cash flows, generated by long-term leases with reliable tenants. By investing in NWH.UN.TO, investors can gain exposure to 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. This reliable income can be attractive for investors aiming to add to their regular income or grow their wealth gradually.

Also, it’s noteworthy that NWH.UN.TO 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.

With all these excellent features, it’s obvious why NorthWest Healthcare Properties REIT (NWH.UN.TO) should be noticed by dividend-seeking investors. Don’t miss out on the chance to benefit from consistent monthly dividends and the stability offered by this respected real estate investment trust. Take action now and see the potential returns that NWH.UN.TO can bring to your investment portfolio.

10. Shaw Communications Inc. (SJR.TO)

Shaw Communications Inc. (SJR.TO) is a leader in telecommunication services. It offers innovative solutions and a wide range of services. And, it has an attractive monthly dividend program. Investors can get consistent payouts from this, making it a great choice for those who need steady income streams. This is unusual in the industry as most firms offer dividends quarterly or yearly.

Shaw Communications has a good track record of strong financial outcomes. This stability is shown by it increasing its dividend payments annually. Investing in Shaw Communications could mean not only regular income but also potential capital gains in the future.

The company invests a lot in expanding its network infrastructure and improving its services. This commitment keeps it ahead of the tech game and ensures the needs of customers are met.

Long-term investors searching for stable monthly dividends should consider Shaw Communications Inc. (SJR.TO). It has good finances, is tech-forward, and its dividends grow consistently. To make the most of owning Shaw Communications stock, investors should use a Dividend Reinvestment Plan (DRIP). This means reinvesting dividends into more shares of Shaw stock; which can lead to higher returns over time.

11. EPR Properties (EPR)

EPR Properties (EPR) is a top pick for dividend-seeking investors. It’s 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.

What makes EPR Properties interesting is its success story. 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 Monthly Dividend Stock?

Monthly dividend stocks are an investment that gives 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 expenses. Secondly, these stocks usually attract retirees and 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.

Forbes has analysed some dependable monthly dividend stocks, such as Realty Income Corporation (NYSE: O) and Main Street Capital Corporation (NYSE: MAIN). These companies have a steady history of payouts and are good options for those seeking monthly dividend income.

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 find out why it’s high. Maybe 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 favor 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.

Frequently Asked Questions

Q: What are monthly dividend stocks?

A: Monthly dividend stocks refer to stocks of companies that pay dividends on a monthly basis instead of the traditional quarterly or annual payments. These stocks distribute a portion of the company’s earnings to shareholders every month.

Q: Why would someone invest in monthly dividend stocks?

A: Investing in monthly dividend stocks can provide regular income streams, which can be beneficial for individuals seeking a stable cash flow. These stocks are particularly attractive for retirees or investors looking to supplement their regular income with dividends received on a monthly basis.

Q: Are monthly dividend stocks more advantageous than quarterly dividend stocks?

A: Monthly dividend stocks can be advantageous for those who rely on dividends as income, as they provide more frequent payouts. However, it is essential to consider the overall performance and stability of the company before investing, rather than solely focusing on the frequency of dividend payments.

Q: What are some popular monthly dividend stocks?

A: Some popular monthly dividend stocks include Realty Income Corporation (O), Main Street Capital Corporation (MAIN), and STAG Industrial, Inc. (STAG). However, it is important to conduct thorough research and consult with a financial advisor before making any investment decisions.

Q: How can I identify the best monthly dividend stocks?

A: Identifying the best monthly dividend stocks requires analyzing various factors such as the company’s financial stability, dividend history and growth, industry trends, and overall market conditions. It is recommended to conduct detailed research or consult with professionals to make informed investment choices.

Q: What risks should I consider when investing in monthly dividend stocks?

A: Investing in monthly dividend stocks carries some risks, similar to any stock investment. Factors such as market volatility, economic conditions, and company-specific risks can impact the stability and sustainability of dividend payments. It is crucial to consider these risks and diversify your investment portfolio to mitigate potential losses.