Canadian stocks that pay monthly dividends are far and few in-between. We have compiled a list of the best Canadian based dividend stocks that pay their dividends monthly, month after month!
Generally medium to large cap Canadian dividend stocks pay on a quarterly basis (4 times per year).
In our dividend stocks in Canada, we have included typical equities, REITs, ETFs and other types of income producing companies that pay monthly dividends. The highest yielding dividends usually come from covered call ETFs and split corps, both have varying management fees, similar to mutual funds.
A stock that pays a monthly dividend is a stock that distributes a portion of its earnings to shareholders on a regular basis, usually on a monthly basis.
Monthly Dividend Stocks List in Canada
- Brookfield Renewable Partners (BEP.UN)
- Inter Pipeline Ltd (IPL)
- Pembina Pipeline Corp (PPL)
- Alaris Royalty Corp (AD)
- Canadian Apartment Properties Real Estate Investment Trust (CAR.UN)
- First National Financial Corp (FN)
- Dream Industrial Real Estate Investment Trust (DIR.UN)
- Artis Real Estate Investment Trust (AX.UN)
- NorthWest Healthcare Properties Real Estate Investment Trust (NWH.UN)
- Inovalis Real Estate Investment Trust (INO.UN)
Highest Paying Monthly Canadian Dividend Stocks
The highest paying monthly Canadian dividend stocks, meaning the ones with the highest monthly yield are posted below.
As you will see from the list, most high yielding monthly dividend stocks are split corporations, covered call ETFs and sometimes REITs.
These high yielding equities are not specifically managed for growth, rather their goals are to have steady monthly high paying dividend yields.
Highest Yielding Monthly Dividend Stocks Canada - Jan 2023
|Stock Ticker||Price||Description||Annual Dividend|
|FFN.TO||7.05||North American Financial 15 Split Corp.||19.29%|
|DF.TO||6.4||Dividend 15 Split Corp. II||18.75%|
|DFN.TO||8.57||Dividend 15 Split Corp.||14.00%|
|FTN.TO||11.43||Financial 15 Split Corp.||13.20%|
|CGXF.TO||13.79||CI Gold+ Giants Covered Call ETF||12.29%|
|LBS.TO||10.85||Life & Banc Split Corp.||11.06%|
|TXF.TO||18.65||CI Tech Giants Covered Call ETF||10.72%|
|BK.TO||14.94||Canadian Banc Corp.||10.57%|
|GDV.TO||11.87||Global Dividend Growth Split Corp.||10.11%|
|DS.TO||8.95||Dividend Select 15 Corp.||9.80%|
The Best Monthly Dividend Paying Stocks Canada
It can be said that there are not many growth companies that pay monthly dividends in Canada. Although there may not be many, we have selected the best monthly dividend paying stocks down below.
Pembina Pipeline -Ticker: PPL.TO
Dividend Yield: 5.18%
Pembina pipeline is a transport and midstream provider of crude oil, condensate and natural gas. Over the span of its 21 years of paying dividends, they have paid out over 6 billion dollars back to their investors. With modest dividend growth over the last 5 years, Pembina’s current forward dividend yield is 5.18%.
Pembina Pipeline’s high dividend yield which pays month makes them one the best monthly dividend stocks in Canada.
Keyera Corp – Ticker: KEY.TO
Dividend Yield: 5.78%
Another great Canadian monthly paying dividend stock is Keyera Corp. Keyera’s main business involves energy infrastructure in Canada. The company operates through gathering and processing, liquids infrastructure, and marketing segments. Keyera has approximately 4,400 km of pipelines and holds interests in 12 active gas plants in Alberta. They were founded in 2003 with their headquarters in Calgary AB Canada.
Keyera Corp’s current forward dividend yield is a healthy 5.78%. Be sure to take note that they pay dividends monthly.
Top 10 Highest Paying Dividend Stocks on the TSX - Jan 2023
|Symbol||Company||Price ($)||DIVIDEND YIELD|
|PUMA||Puma Exploration Inc.||0.22||108.70 %|
|ITE||i3 Energy plc ordinary shares||0.38||61.35 %|
|ETHY||Purpose Ether Yield ETF||2.6||26.53 %|
|ZUM||ZoomerMedia Limited||0.05||24.00 %|
|BTCY||Purpose Bitcoin Yield ETF||2.94||21.00 %|
|DGS||Dividend Growth Split Corp. Class A Shares||6.31||18.99 %|
|CEMI||CIBC Emerging Markets Equity Index ETF||17.29||17.66 %|
|MONT||Montfort Capital Corp.||0.47||17.02 %|
|QEE||Mackenzie Emerging Markets Equity Index ETF||86.98||15.96 %|
|FTN||Financial 15 Split Corp. Class A Shares||9.64||15.68 %|
About This Article