If you’re interested in monthly dividend stocks, whether you’re looking to add one to your existing portfolio or are looking to build a portfolio full of them, then you’ve come to the right place. I’ve scoured several industries and compiled a list of four high-quality stocks with high and safe yields of 4-10%, so let’s take a quick glance at each to determine if you should invest in one or more of them today.

1. Chorus Aviation Inc.

Chorus Aviation Inc. (TSX:CHR.B) is a dividend-paying holding company that owns companies in the aviation industry. Its subsidiaries include the following:

  • Jazz Aviation LP: Its divisions include Air Canada Express, a contract carrier for Air Canada, and Jazz, an airline that offers charters throughout North America and a provider of services such as ground handling, dispatching, flight load planning, training, and consulting.
  • Voyageur Airways: Its divisions include Voyageur Airways, a provider of specialized contract flying operations, and Voyageur Aerotech, a provider of engineering and advanced maintenance operations.

It pays a monthly dividend of $0.04 per share, or $0.48 per share annually, which gives its stock a yield of about 7.8% at today’s levels. It has also raised its annual dividend payment for two consecutive years, and its 6.7% hike in March 2015 has it on pace for 2016 to mark the third consecutive year with an increase.

2. Slate Office REIT

Slate Office REIT (TSX:SOT.UN) is a pure-play Canadian office real estate investment trust. It owns and manages 34 high-quality office properties, comprising of approximately 4.4 million square feet located across Canada’s major population centres.

It pays a monthly distribution of $0.0625 per share, or $0.75 per share annually, which gives its stock a yield of about 9.4% at today’s levels. It has maintained this annual rate since 2012, and its very strong financial performance, including its 23.5% year-over-year increase in adjusted funds from operations to $0.21 per share in the first quarter of 2016, could allow it to continue to do so going forward.

3. Parkland Fuel Corp.

Parkland Fuel Corp. (TSX:PKI) is one of North America’s largest independent marketers of fuel and petroleum products, including gasoline, diesel, propane, heating oil, and lubricants. Its brands include Sparlings Propane, Bluewave Energy, Island Petroleum, Columbia Fuels, Farstad Oil, Superpumper, and Elbow River Marketing.

It pays a monthly dividend of $0.0945 per share, or $1.134 per share annually, which gives its stock a yield of about 4.9% at today’s levels. It has also raised its annual dividend payment for three consecutive years, and its two hikes since the start of 2015, including its 5% hike in March of this year, have it on pace for 2016 to mark the fourth consecutive year with an increase.

4. First National Financial Corp.

First National Financial Corp. (TSX:FN) is the parent company of First National Financial LP, which is Canada’s largest non-bank originator, underwriter, and servicer of mortgages with over $94 billion in mortgages under administration.

It pays a monthly dividend of $0.14167 per share, or $1.70 per share annually, which gives its stock a yield of about 5.3% at today’s levels. It has also raised its annual dividend payment for four consecutive years, and its two hikes since the start of 2015, including its 9.7% hike in April of this year, have it on pace for 2016 to mark the fifth consecutive year with an increase.

 Stock buy alert hits astounding 96% success rate!

The hand-picked investing team inside Stock Advisor Canada, recently issued a buy alert for one special type of "bread-and-butter" stock where The Motley Fool U.S. has banked profits on 23 out of 24 recommendations. Frankly, with an astounding 96% success rate that has delivered average returns of 260%, chances are this new pick could deliver life-changing returns as well. Because the team at Stock Advisor Canada fully embraces the same time-tested investing philosophies that have led to countless Motley Fool winners globally. So simply click here to unlock the full details behind this new recommendation and join Stock Advisor Canada.

*96% accuracy includes restaurant stock recommendations from Motley Fool U.S. services Stock Advisor, Rule Breakers, Hidden Gems, Income Investor and Inside Value since each services inception. Returns as of 5/27/16.

NEW! This Stock Could Be Like Buying Amazon In 1997

For only the 5th time in over 14 years, Motley Fool co-founder David Gardner just issued a Buy Recommendation on this recent Canadian IPO.

Stock Advisor Canada’s Chief Investment Adviser, Iain Butler, also recommended this company back in March – and it’s already up a whopping 57%!

Enter your email address below to claim your copy of this brand new report, “Breakthrough IPO Receives Rare Endorsement.”

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