Many investors are turning to monthly dividend stocks to supplement their income, because savings accounts and Guaranteed Investment Certificates (GICs) simply do not offer yields anywhere close to what can be earned in the stock market. With this in mind, let’s take a quick look at five stocks with high and safe yields of 4-9% that you could add to your portfolio today.
1. Crombie Real Estate Investment Trust
Crombie Real Estate Investment Trust (TSX: CRR.UN) is one of Canada’s largest owners and operators of commercial real estate with 261 retail and office properties across the country that total approximately 17.2 million square feet.
It pays a monthly distribution of $0.07417 per share, or $0.89 per share annually, which gives its stock a yield of approximately 5.9% at today’s levels. It’s also very important to note that it has maintained this annual rate since 2009, and its increased amount of adjusted funds from operations could allow it to continue to do so for the next several years.
2. Northland Power Inc.
Northland Power Inc. (TSX: NPI) is one of the largest owners, developers, and operators of facilities that produce clean and green energy in Canada and Europe.
It pays a monthly dividend of $0.09 per share, or $1.08 per share annually, which gives its stock a yield of approximately 4.9% at today’s levels. It’s also very important to note that it has maintained this annual rate since 2009, and its consistent generation of free cash flow could allow it to continue to do so for the foreseeable future.
3. Timbercreek Mortgage Investment Corp.
Timbercreek Mortgage Investment Corp. (TSX:TMC) is one of Canada’s largest non-bank mortgage lenders to professional real estate investors with 101 loans in its portfolio that total approximately $436 million.
It pays a monthly dividend of $0.06 per share, or $0.72 per share annually, which gives its stock a yield of approximately 8.7% at today’s levels. It’s also very important to note that it has maintained this annual rate since 2015, and its consistent generation of distributable income could allow it to continue to do so for many years to come.
4. Killam Apartment REIT
Killam Apartment REIT (TSX: KMP.UN) is one of Canada’s largest residential landlords with 176 apartment properties and 35 manufactured home communities located across six provinces, and it also owns four commercial properties in Halifax.
It pays a monthly distribution of $0.05 per share, or $0.60 per share annually, which gives its stock a yield of approximately 4.8% at today’s levels. It’s also very important to note that it has maintained this annual rate since 2014, and its very strong growth of adjusted funds from operations could allow it to continue to do so going forward.
5. Medical Facilities Corp.
Medical Facilities Corp. (TSX: DR) owns a controlling interest in four specialty surgical hospitals and an ambulatory surgery centre in the United States. Its specialty surgical hospitals perform scheduled surgical, imaging, and diagnostic procedures, including both primary and urgent care, and its ambulatory surgery centre specializes in outpatient procedures.
It pays a monthly dividend of $0.09375 per share, or $1.125 per share annually, which gives its stock a yield of approximately 6.1% at today’s levels. It’s also very important to note that it has maintained this annual rate since 2013, and its increased amount of distributable cash could allow it to continue to do so the next several years.
