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3 Dividends Stocks That Offer Big Monthly Passive Income

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If you want huge monthly dividends, right now is a great time. You can find dividend stocks that have supercharged yields belonging to industries that may be down, but now out. For that you would be looking at real estate, and oil and gas. So here I’m going to take a look at three dividend stocks that offer solid monthly dividends you can look forward to for decades, not just over the next few months.

Pembina Pipeline

The pipeline industry has been under attack because of the poor health of the oil and gas sector. Pipelines need to go through a number of hoops before building. So Pembina Pipeline Corp. (TSX:PPL)(NYSE:PBA) is indeed included in that category. However, the company may have several growth projects, but it’s supported by decades of long-term contracts. So its cash flow and dividends are safe for this dividend stock.

Shares are still down 27% in the last year, but have climbed 23% since the crash with the market recovery. Now that production has started up again, revenue should start increasing once more after falling during the pandemic. In fact, the company is still a Dividend Aristocrat, with its dividend growing even during the crisis. The stock currently offers a 7.22% dividend yield, which has grown at a compound annual growth rate (CAGR) of 4.23% over the last decade.


The real estate industry is another sector that’s been beaten down, and RioCan REIT (TSX:REI.UN) is no exception. The company own 230 properties in its portfolio, ranging from residential and retail to mixed use properties. It remains one of the largest real estate investment trusts (REITs) in the country, with an occupancy rate of about 97% as of writing.

But real estate has certainly struggled lately, it can’t be denied. That’s why I like RioCan. It’s made the best of its properties, mixing residential with retail so that it gets more revenue from less space. Again shares are down 30% since before the crash, but up 21.5% in the last three months as of writing. The company also flaunted Dividend Aristocrat status until the crash, with a 5.49% dividend yield as of writing.


Finally, SmartCentres REIT (TSX:SRU.UN) is another winner for monthly dividend stocks. While brick and mortar stores may become less and less, SmartCentres still has one store pretty much connected to its name: Wal-Mart Inc. About a quarter of all Wal-Marts are located within a SmartCentre location, making it a solid buy for long-term dividend seekers.

Even with the pandemic the company sported a similar occupancy rate to RioCan at about 98%! While you might not get into this stock for share growth, dividends are certainly what you’ll get. Shares are still down 18% over the last year, and up about 16% over the last three months. Its dividend, meanwhile, remains high at 7.65% as of writing, with a CAGR of 3% over the last five years.

Bottom line

None of these companies has a chance of seeing enormous share returns in the next year or so. However, for long-term investors seeking some extra cash you can be sure these dividend stocks will deal that up. For investors willing to wait it out, again you’ll see conservative returns over the long haul, but returns none the less!

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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 Amy Legate-Wolfe owns shares of PEMBINA PIPELINE CORPORATION. The Motley Fool recommends PEMBINA PIPELINE CORPORATION and Smart REIT.

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