4 Monthly Dividend Stocks With Yields Over 5%

Want monthly income? InnVest Reit Trust Units (TSX:INN.UN), Superior Plus Corp. (TSX:SPB), Atrium Mortgage Investment Corp. (TSX:AI), and Vermilion Energy Inc. (TSX:VET)(NYSE:VET) have high and safe yields over 5%. Which should you buy?

| More on:
The Motley Fool

Investing in monthly dividend stocks is a great way to supplement your income, so I’ve compiled a list of four great ones with high and safe yields over 5% that you could buy right now. Let’s take a quick look at each.

1. InnVest Reit Trust Units 

InnVest Reit Trust Units (TSX:INN.UN) is Canada’s largest owner of hotel real estate with ownership interests in 109 hotels located across every province that operate under internationally recognized franchise brands. It also owns a 50% interest in Choice Hotels Canada Inc., one of the country’s largest franchisors of hotels.

It pays a monthly distribution of $0.0333 per share, or $0.40 per share annually, which gives its stock a yield of about 5.8% at today’s levels. It’s also important to note that the company has maintained this annual rate since 2012, and its strong operational performance could allow it to continue to do so going forward.

2. Superior Plus Corp.

Superior Plus Corp. (TSX:SPB) owns a portfolio of diversified businesses with operations in energy distribution, specialty chemicals, and construction products distribution. Its subsidiaries include Superior Propane, ERCO Worldwide, and Superior Plus Construction Products Distribution.

It pays a monthly dividend of $0.06 per share, or $0.72 per share annually, which gives its stock a yield of about 6.75% at today’s levels. It’s also very important to note that the company has raised its annual dividend payment for two consecutive years, and its ample amount of adjusted operating cash flow could allow it to continue this streak in 2016.

3. Atrium Mortgage Investment Corp.

Atrium Mortgage Investment Corp. (TSX:AI) is one of Canada’s largest non-bank lenders that provides creative financing solutions to the real estate communities in Ontario, Saskatchewan, Alberta, and British Columbia. It has 204 mortgages in its portfolio valued at approximately $464 million as of April 20, 2016.

It pays a monthly dividend of $0.07167 per share, or $0.86 per share annually, which gives its stock a yield of about 7.2% at today’s levels. It’s also very important to note that the company has raised its annual dividend payment for two consecutive years, and its 2.4% hike in February has it on pace for 2016 to mark the third consecutive year with an increase.

4. Vermilion Energy Inc.

Vermilion Energy Inc. (TSX:VET)(NYSE:VET) is an international oil and gas producer with operations in North America, Europe, and Australia.

It pays a monthly dividend of $0.215 per share, or $2.58 per share annually, which gives its stock a yield of about 6.25% at today’s levels. It’s also important to note that the company has maintained this annual rate since 2014, and although it has been negatively impacted by lower commodity prices, its strong generation of fund flows from operations could allow it to continue to do so going forward.

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.

More on Dividend Stocks

TFSA (Tax free savings account) acronym on wooden cubes on the background of stacks of coins
Dividend Stocks

How to Earn a TFSA Paycheque Every Month and Pay No Taxes on it

Stocks like First National Financial (TSX:FN) pay you monthly. You can also earn monthly dividends through portfolio diversification.

Read more »

stock analysis
Dividend Stocks

1 Dividend Superstar I’d Buy Over TD Bank Stock

TD (TSX:TD) stock may look undervalued, but there are reasons for the price drop. Meanwhile, this dividend superstar has more…

Read more »

A steel grain silo storage tank with solar panel in a yellow canola field in bloom in Alberta, Canada.
Dividend Stocks

Down by 26.77%: Now Might Be the Perfect Time to Buy Nutrien Stock

This TSX stock has seen share prices fall by over 26% from its 52-week highs, but it might be the…

Read more »

Woman has an idea
Dividend Stocks

2 No-Brainer Stocks to Buy Now With $7,000

Two relatively cheap cash cows are no-brainer buys for investors with $7,000 to invest.

Read more »

dividends grow over time
Dividend Stocks

Buy This High-Yield Dividend Stock in July 2024

Buy this high-yielding dividend stock to lock in inflated yield into your portfolio to generate solid passive income for years.

Read more »

Double exposure of a businessman and stairs - Business Success Concept
Dividend Stocks

Where Will Dollarama Stock Be in 3 Years?

Dollarama stock has done incredibly well during economic uncertainty, but what about when the markets recover in the next three…

Read more »

Piggy bank with word TFSA for tax-free savings accounts.
Dividend Stocks

TFSA – 2 Canadian Stocks to Buy and Hold for Tax-Free Gains

Canadian stocks like Brookfield Corp (TSX:BN) can make wise TFSA holdings.

Read more »

Doctor talking to a patient in the corridor of a hospital.
Dividend Stocks

3 Things You Need to Know if You Buy NorthWest REIT Today

This REIT holds a super high dividend yield at 7.2%, but before you invest here is exactly what investors need…

Read more »