As many investors know, dividend-paying stocks far outperform non-dividend-paying stocks over the long term. This means that every long-term investor should own at least one dividend-paying stock, and depending on your age, investment goals, and risk tolerance, maybe a diversified portfolio full of them. With this in mind, let’s take a look at three stocks that pay monthly dividends that you should consider buying today.

1. Inter Pipeline Ltd.: 5% yield

Inter Pipeline Ltd. (TSX:IPL) is one of the leading providers of petroleum transportation and bulk liquid storage in western Canada and Europe. It pays a monthly dividend of $0.1225 per share, or $1.47 per share annually, giving its stock a 5% yield at today’s levels. Investors should also note that the company has increased its dividend seven times in the last seven years, making it one of the top dividend-growth plays in the energy sector today.

2. Vermillion Energy Inc.: 4.85% yield

Vermillion Energy Inc. (TSX:VET)(NYSE:VET) is one of the largest producers of crude oil and natural gas in North America, Europe, and Australia. It pays a monthly dividend of $0.215 per share, or $2.58 per share annually, which gives its stock a 4.85% yield at current levels. The company has also increased its dividend each of the last two years, and I think this streak will continue in 2015.

3. New Flyer Industries Inc.: 4% yield

New Flyer Industries Inc. (TSX:NFI) is one of North America’s largest manufacturers of heavy duty transit buses. It pays a monthly dividend of $0.052 per share, or $0.62 per share annually, giving its stock a 4% yield at today’s levels. It is also worth noting that the company increased its dividend by 6.6% in May as a result of its increased free cash flow, and I think this could become an ongoing theme over the next few years.

Which of these monthly dividend stocks should you buy?

Inter Pipeline, Vermillion Energy, and New Flyer Industries are three of the top monthly dividend-paying stocks in the market today. Foolish investors should take a closer look and strongly consider establishing positions in at least one of them.

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Fool contributor Joseph Solitro has no position in any stocks mentioned.