As wise investors know, dividend-paying stocks outperform non-dividend-paying stocks over the long term, and some prefer to receive their distributions on a monthly basis. With these factors in mind, let’s take a look at three stocks with yields up to 4.7% that you could buy today.
1. Canadian Energy Services & Tech Corp. 4.7% yield
Canadian Energy Services & Tech Corp. (TSX:CEU) is one of North America’s leading providers of consumable chemical solutions throughout the lifecycle of an oilfield. It pays a monthly dividend of $0.0275 per share, or $0.33 per share annually, giving its stock a 4.7% yield at today’s levels.
Investors should also note that the company has increased its dividend nine times since it converted to a corporate structure on January 1, 2010. However, its decreased amount of funds from operations, including a year-over-year decline of 16% to $50.63 million in the first half of fiscal 2015, may force it to keep its current rate for the next several quarters.
2. Milestone Apartments Real Estate Invt Tr: 4.4% yield
Milestone Apartments Real Estate Invt Tr (TSX:MST.UN) is one of the largest multi-family residential landlords in the United States. It pays a monthly distribution of $0.05417 per share, or $0.65 per share annually, which gives its stock a 4.4% yield at current levels.
It is also worth noting that Milestone has maintained this monthly rate since April 2013, but its increased amount of funds from operations, including 32.2% year-over-year growth to US$29.14 million in the first half of fiscal 2015, could allow for a significant increase in the near future.
3. Cineplex Inc.: 3.3% yield
Cineplex Inc. (TSX:CGX) is Canada’s largest owner and operator of movie theatres. It pays a monthly dividend of $0.13 per share, or $1.56 per share annually, giving its stock a 3.3% yield at today’s levels.
Investors should also note that Cineplex has increased its dividend for five consecutive years, and its increased amount of free cash flow, including 2.1% year-over-year growth to $68.49 million in the first half of fiscal 2015, could allow for another increase in 2016.
Which of these stocks belong in your portfolio?
Canadian Energy Services, Milestone Apartments, 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 buying one or more of them.
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Fool contributor Joseph Solitro has no position in any stocks mentioned. Milestone Apartments is a recommendation of Stock Advisor Canada.