3 Monthly Dividend Stocks to Buy and Hold for 20 Years

Dream Global REIT (TSX:DRG.UN), Chorus Aviation Inc. (TSX:CHR.B), and Chemtrade Logistics Income Fund (TSX:CHE.UN) can provide the monthly dividend income that you need.

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If you’re interested in earning monthly dividend income, then you’ve come to the right place. I’ve scoured the market and found three stocks with yields up to 8.7% that pay dividends on a monthly basis, so let’s take a look at each to determine which would fit best in your portfolio.

1. Dream Global REIT: 8.7% yield

Dream Global REIT (TSX:DRG.UN) is one of the largest owners of commercial real estate in Germany, with 221 properties totaling approximately 13.39 million square feet of gross leasable area. It pays a monthly distribution of $0.06667 per share, or $0.80 per share annually, giving its stock an 8.7% yield at today’s levels.

Investors should also note that Dream Global has maintained this monthly rate since it first began paying a dividend in August 2011, and its ample funds from operations, including $91.37 million in fiscal 2014 and $40.26 million in the first half of fiscal 2015, could allow it to continue doing so for the next several years.

2. Chorus Aviation Inc.: 8.35% yield

Chorus Aviation Inc. (TSX:CHR.B) is a Canadian-based holding company engaged in airline services throughout Canada. It pays a monthly dividend of $0.04 per share, or $0.48 per share annually, which gives its stock an 8.35% yield at current levels.

It is also important to note that Chorus increased its dividend by 6.7% for the month of March as a result of its strong operational performance in fiscal 2014, including a 12.4% year-over-year increase in its adjusted net income to $95.23 million, and I think the new rate can be sustained for the long term.

3. Chemtrade Logistics Income Fund: 6.15% yield

Chemtrade Logistics Income Fund (TSX:CHE.UN) provides industrial chemicals and related services to customers around the world. It pays a monthly distribution of $0.10 per share, or $1.20 per share annually, giving its stock a 6.15% yield at today’s levels.

Investors should also note that Chemtrade has maintained this monthly rate since January 2007, but its increased amount of distributable cash after all capital expenditures, including 64.4% year-over-year growth to $75 million in the first half of fiscal 2015, could allow for a significant bump in the near future.

Should you buy one of these high yielders today?

Dream Global REIT, Chorus Aviation, and Chemtrade Logistics can provide the monthly dividend income that your portfolio needs. All Foolish investors should take a closer look and strongly consider establishing long-term positions in at least one of them today.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

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

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