If you’re interested in earning monthly dividend income, then this article is for you. I have scoured the market and found three stocks from three different industries that pay dividends on a monthly basis, so let’s take a closer look at each to determine if they could form your ultimate dividend portfolio.
1. Atrium Mortgage Investment Corp.: 7.2% yield
Atrium Mortgage Investment Corp. (TSX:AI) is a non-bank lender that provides financing solutions to the real estate communities in Ontario, Saskatchewan, Alberta, and British Columbia. It pays a monthly dividend of $0.07 per share, or $0.84 per share annually, giving its stock a 7.2% yield at today’s levels. Investors should also note that the company has increased its dividend every year since it went public in December 2012, and it pays a special dividend each year to ensure a 100% payout ratio, making it one of the top dividend-growth plays in its industry.
2. Bird Construction Inc.: 6.8% yield
Bird Construction Inc. (TSX:BDT) is one of Canada’s largest general contractors. It pays a monthly dividend of $0.0633 per share, or $0.7596 per share annually, which gives its stock a 6.8% yield at current levels. It is also worth noting that the company has increased its annual dividend payment for three consecutive years, and its strong operational performance, including a 450% year-over-year increase in earnings per share to $0.11 and an 11.5% year-over-year increase in revenue to $306.16 million in the first quarter of fiscal 2015 could allow this streak to continue in 2015.
3. Cineplex Inc.: 3.2% yield
Cineplex Inc. (TSX:CGX) is the largest owner and operator of movie theatres in Canada. It pays a monthly dividend of $0.13 per share, or $1.56 per share annually, giving its stock a 3.2% yield at today’s levels. The company has also increased its annual dividend payment for four consecutive years, and this streak will reach five if it maintains its current monthly rate for the rest of 2015. Its increased amount of free cash flow, including 49.5% year-over-year growth to $27.5 million in the first quarter of fiscal 2015, could allow this streak to continue for another five years at least.
So, which of these stocks fit your portfolio’s needs?
Atrium Mortgage, Bird Construction, and Cineplex are three of the most attractive monthly dividend-paying stocks in the market today. Foolish investors should take a closer look and consider initiating positions in one or all of them.
