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Income Investors: 3 Monthly Dividend Stocks to Buy Right Now

As income investors know, dividend-paying stocks far outperform their non-dividend-paying counterparts over the long term, and many prefer to receive their dividends on a monthly basis. With both of these factors in mind, let’s take a look at three monthly dividend stocks with yields up to 6.7% that you could add to your portfolio today.

1. Corus Entertainment Inc.: 6.7% yield

Corus Entertainment Inc. (TSX:CJR.B) is one of the largest integrated media and entertainment companies in Canada. It pays a monthly dividend of $0.095 per share, or $1.14 per share annually, giving its stock a 6.7% yield at today’s levels. It is also worth noting that the company has increased its annual dividend payment for six consecutive years, and its consistent free cash flow generation could allow this streak to continue for another six years.

2. Canadian Energy Services & Tech Corp. 4.5% yield

Canadian Energy Services & Tech Corp. (TSX:CEU) is one of North America’s leading providers of consumable chemical solutions throughout the life cycle of an oilfield. It pays a monthly dividend of $0.0275 per share, or $0.33 per share annually, giving its stock a 4.5% yield at current levels. Investors should also note that the company has increased its annual dividend payment for four consecutive years, and its consistent funds from operations could allow for another increase in 2015.

3. Shaw Communications Inc.: 4.25% yield

Shaw Communications Inc. (TSX:SJR.B)(NYSE:SJR) is one of the largest telecommunications companies in Canada. It pays a monthly dividend of $0.09875 per share, or $1.185 per share annually, giving its stock a 4.25% yield at today’s levels. The company has also increased its annual dividend payment for 12 consecutive years, making it one of the top dividend-growth plays in the market today.

Which of these top dividend stocks belong in your portfolio?

Corus Entertainment, Canadian Energy Services, and Shaw Communications are three very attractive stocks that pay dividends on a monthly basis. Long-term investors should take a closer look and strongly consider beginning to scale in to positions in at least one of them today.

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

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