The Motley Fool

Your Instant 3-Stock Portfolio for Monthly Dividend Income

If you’re interested in earning monthly dividend income, you’ve come to the right place. I have scoured the market and compiled a list of 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 income portfolio.

1. Black Diamond Group Ltd.: 6.9% yield

Black Diamond Group Ltd. (TSX:BDI) rents and sells portable workforce accommodations and work space solutions to businesses in Canada, the United States, and Australia. It pays a monthly dividend of $0.08 per share, or $0.96 per share annually, giving its stock a 6.9% yield at today’s levels. It is also important to note that the company has increased its annual dividend payment for four consecutive years, and its 6.7% increase in August 2014 puts it on pace for 2015 to mark the fifth consecutive year with an increase.

2. Whitecap Resources Inc.: 6.6% yield

Whitecap Resources Inc. (TSX:WCP) is one of the largest producers of crude oil and natural gas in Canada. It pays a monthly dividend of $0.0625 per share, or $0.75 per share annually, which gives its stock a 6.6% yield at current levels. Investors should also note that the company increased its annual dividend payment in 2014, and its 10.2% increase in May 2014 puts it on pace for 2015 to mark the second consecutive year with an increase.

3. Boardwalk REIT: 3.5% yield

Boardwalk REIT (TSX:BEI.UN) is one of the largest owners and operators of rental properties in Canada, with over 220 properties and over 34,000 residential units, totaling over 29 million square feet of rentable space. It pays a monthly dividend of $0.17 per share, or $2.04 per share annually, giving its stock a 3.5% yield at today’s levels. The company has also increased its annual dividend payment for three consecutive years, and its 3% increase in February 2014 puts it on pace for 2015 to mark the fourth consecutive year with an increase.

Could your portfolio use monthly income?

Black Diamond Group, Whitecap Resources, and Boardwalk REIT are three of the most attractive monthly dividend-paying stocks in the market today. All Foolish investors should take a closer look and strongly consider initiating positions in one or more of them.

Want three more of our TOP dividend stock picks?

These three top stocks have delivered dividends for shareholders for decades (and even centuries!). Check out our special FREE report: “3 Dividend Stocks to Buy and Hold Forever.” Click here now to get the full story!

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

I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. I understand I can unsubscribe from these updates at any time. Please read the Privacy Statement and Terms of Service for more information.