Investing in monthly dividend stocks is a great way to supplement your income, so I’ve scoured the market and compiled a list of five great ones with high and safe yields of 4-9%. Let’s take a quick look at each, so you can determine if you should buy one or more of them today.
1. Smart REIT
Smart REIT (TSX:SRU.UN) is one of Canada’s largest owners and operators of commercial real estate with 138 properties across all 10 provinces that total over 31 million square feet.
It pays a monthly distribution of $0.1375 per share, or $1.65 per share annually, which gives its stock a yield of approximately 4.5% at today’s levels. Investors must also note that its 3.1% distribution hike in October has it on pace for 2016 to mark the third consecutive year in which it has raised its annual dividend payment.
2. Keyera Corp.
Keyera Corp. (TSX:KEY) is one of Canada’s largest midstream energy companies, providing services such as natural gas gathering and processing, natural gas liquids fractionation, transportation, storage, and marketing, and iso-octane production and sales.
It pays a monthly dividend of $0.125 per share, or $1.50 per share annually, which gives its stock a yield of approximately 4% at today’s levels. Investors must also note that its two dividend hikes since the start of 2015, including its 8.7% hike in August, have it on pace for 2016 to mark the sixth consecutive year in which it has raised its annual dividend payment.
3. Callidus Capital Corp.
Callidus Capital Corp. (TSX:CBL) is one of North America’s leading providers of creative financing solutions for companies that are not able to obtain adequate financing from conventional lending institutions.
It pays a monthly dividend of $0.0833 per share, or $1.00 per share annually, which gives its stock a yield of approximately 6.7% at today’s levels. Investors must also note that its 42.9% dividend hike last month has it on pace for 2016 to mark the first year in which it has raised its annual dividend payment since it initiated its dividend in 2015.
4. Shaw Communications Inc.
Shaw Communications Inc. (TSX:SJR.B)(NYSE:SJR) is one of Canada’s leading pure-play connectivity providers, providing consumers and businesses with broadband internet, data, WiFi, video, digital phone, and, through WIND Mobile, wireless services.
It pays a monthly dividend of $0.09875, or $1.185 per share annually, which gives its stock a yield of approximately 4.9% at today’s levels. Investors must also note that its 7.7% dividend hike in March 2015 has it on pace for 2016 to mark the 13th consecutive year in which it has raised its annual dividend payment.
5. NorthWest Healthcare Properties Real Estate Investment Trust
NorthWest Health Prop Real Est Inv Trust (TSX:NWH.UN) is Canada’s largest non-government owner and manager of medical office buildings with 62 properties from coast to coast that total about 4.2 million square feet. It also owns and manages 58 medical office buildings in Australia, New Zealand, Germany, and Brazil that total about 3.6 million square feet.
It pays a monthly distribution of $0.06667 per share, or $0.80 per share annually, which gives its stock a yield of approximately 8.2% at today’s levels. Investors must also note that it has maintained this annual rate since 2011, and its strong financial performance could allow it to continue to do so for the foreseeable future.
