As history shows, dividend-paying stocks far outperform non-dividend-paying stocks over the long term. It is for this reason that we should all own at least one dividend-paying stock, and depending on your age, investment goals, and risk tolerance, maybe even a diversified portfolio full of them. With this in mind, let’s take a look at three small-cap stocks with yields up to 7.9% that you could buy right now.

1. Northern Property REIT: 7.9% yield

Northern Property REIT (TSX:NPR.UN) is the largest multi-family residential landlord in the Northwest Territories, Nunavut, and Newfoundland and Labrador. It pays a monthly dividend of $0.1358 per share, or $1.6296 per share annually, giving its stock a 7.9% yield at today’s levels.

The company has also increased its monthly rate each of the last two years, and its increased amount of funds from operations, including 5.4% year-over-year growth to $36.9 million in the first half of fiscal 2015, could allow this streak to continue in 2015.

2. Medical Facilities Corp.: 7% yield

Medical Facilities Corp. (TSX:DR) owns a controlling interest in five specialty surgical hospitals and an ambulatory surgery centre in the United States. It pays a monthly dividend of $0.09375 per share, or $1.125 per share annually, which gives its stock a 7% yield at current levels.

Investors should also note that the company has maintained this monthly rate since September 2012, but its increased amount of cash available for distribution, including 26.5% year-over-year growth to $23.43 million in the first half of fiscal 2015, could allow for a significant increase in the very near future.

3. Laurentian Bank of Canada: 4.5% yield

Laurentian Bank of Canada (TSX:LB) is one of the largest financial institutions in Canada, with approximately $39.6 billion in total assets. It pays a quarterly dividend of $0.56 per share, or $2.24 per share annually, giving its stock a 4.5% yield at today’s levels.

It is also important to note that the company has increased its dividend for seven consecutive years, and its strong operational performance could allow this streak to continue for decades.

Should you buy one of these stocks today?

Northern Property REIT, Medical Facilities Corp., and Laurentian Bank of Canada are three of the most attractive dividend-paying small-cap stocks in the market today. Foolish investors should take a closer look and strongly consider initiating long-term positions in one of them.

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