The Motley Fool

Get Humongous Income From These 3 Monthly Dividend Stocks

Putting money in savings accounts or GICs earns you interest. Essentially, when you do that, you’re lending money to your bank, which in turn lends your money to someone else at higher interest rates. You can also use a portion of your savings to buy corporate or government bonds to earn higher interest income than savings accounts and GICs. When you do so, you’re essentially lending money to businesses and governments.

If you can take on even more risk, you can potentially build your income stream faster by investing in stocks that offer big dividends.

Here are three high-yield dividend stocks you can consider to increase your income right away.

Artis REIT (TSX:AX.UN) has a diversified portfolio of office (about 53% of its net operating income), retail (about 21%), and industrial assets (about 26%).

Early this month, Artis REIT qualified to trade on the OTCQX Best Market in the U.S., which broadened its investor base and increased its accessibility to capital.

The roughly 13% drop year to date in Artis REIT stock has pushed the yield of the diversified REIT higher to 8.77% at $12.31 per unit as of writing.

dividend growth

Alaris Royalty (TSX:AD) stock has made a strong turnaround of 25% in the last three months. If the company continues to execute, the stock has the potential to trade at the $27 level over a two-year time frame for about 30% upside. Meanwhile, it offers a yield of 7.82% at $20.71 per share as of writing.

Alaris lends money to private businesses in the form of non-voting preferred equity. This allows the companies to remain fully in charge and focus on the long-term goals of their businesses. In return, Alaris gets humongous monthly cash distributions from these businesses. So, it will get a return on its investments immediately without having to rely on an exit event.

AltaGas (TSX:ALA) stock is in the dumps. The stock has declined by about 24% in the last 12 months. At $21.52 per share as of writing, it offers an incredible yield of 10.18%, which may be too scary for investors to take a bite.

Going forward, if the stock is to turn itself around, it needs to prove that it did the right thing by acquiring WGL and selling its non-core assets. Over the next year or so, we shall see how the company executes.

Investor takeaway

By investing in a diversified group of high-yield stocks, such as Artis REIT, Alaris, and AltaGas, you can reduce company-specific risks, while earning a big income stream.

The 10 Best Stocks to Buy This Month

Renowned Canadian investor Iain Butler just named 10 stocks for Canadians to buy TODAY. So if you’re tired of reading about other people getting rich in the stock market, this might be a good day for you. Because Motley Fool Canada is offering a full 65% off the list price of their top stock-picking service, plus a complete membership fee back guarantee on what you pay for the service. Simply click here to discover how you can take advantage of this.

Click Here to Learn More Today!

Fool contributor Kay Ng owns shares of Alaris and AltaGas. AltaGas is a recommendation of Stock Advisor Canada. Alaris is a recommendation of Dividend Investor Canada.

 

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss an important event.

Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group.

This is your chance to get in early on what could prove to be very special investment advice.

Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada.

I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. I understand I can unsubscribe from these updates at any time. Please read the Privacy Statement and Terms of Service for more information.