Investing in high-yield dividend stocks can boost your portfolio’s income potential, especially when those dividends are paid out monthly. Stocks offering yields above 7% enhance cash flow, but when the dividends are paid every 30 days, they create opportunities for more frequent reinvestment. This steady income stream can support the compounding of returns over time while also helping to cover ongoing expenses.
That said, it’s important to look beyond yield alone. Before investing, one should focus on stocks with strong fundamentals, a solid record of regular dividend payments, and the ability to sustain their payouts in the long run.
Against this backdrop, here is a TSX stock that pays cash every 30 days and offers a high yield of over 7%.
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The 7% monthly dividend stock
Investors seeking monthly passive income through dividends may consider Northwest Healthcare Properties REIT (TSX:NWH.UN). This Canadian REIT pays a monthly dividend of $0.03 per share, totalling $0.36 annually. Moreover, with the stock recently trading around $4.96, that translates into a high yield of over 7%, which is highly attractive.
Northwest Healthcare owns and manages a diversified portfolio of hospitals, outpatient centres, and medical office buildings across Canada and globally. Healthcare real estate tends to be defensive by nature. With an aging global population and rising demand for medical services, the need for well-located, high-quality healthcare facilities is also on the rise. Northwest Healthcare is well-positioned to benefit from this long-term structural trend.
Further, Northwest’s tenants include major hospital operators and healthcare providers, many of whom are backed by government funding. This adds a layer of reliability to the company’s income stream.
Moreover, the REIT’s revenue is supported by long-term leases and inflation-indexed rents, which help to keep income steady even as the broader economy faces uncertainties. This enables the REIT to generate strong same-property net operating income (SPNOI), a key performance indicator, providing a cushion against inflation and supporting its dividend payments.
Earn $300 Monthly with Northwest Healthcare stock
Northwest Healthcare Properties REIT appears well-positioned for stable performance and continued dividend payouts in the years ahead. While the REIT owns a portfolio of defensive real estate, its consistent cash collections, high occupancy levels of above 96%, and robust average lease term of 13.6 years provide stability and drive its SPNOI and monthly distributions.
While the nature of its healthcare-focused properties offers resilience, Northwest is not entirely insulated from broader economic challenges. Geopolitical tensions, tariffs, and inflationary pressures persist as significant concerns for the global economy. However, it has taken steps to manage these risks. Inflation-linked lease agreements and long-term tenant arrangements provide a solid buffer, while its disciplined capital strategy adds further stability.
Northwest is also refining its asset mix. The trust is pursuing initiatives to reduce leverage and strengthen its balance sheet, including the selective sale of non-core assets. At the same time, the ongoing, steady demand for healthcare services provides a supportive backdrop for continued growth.
Overall, Northwest Healthcare’s strong tenant base and focus on essential services position it as a compelling option for income-focused investors seeking steady monthly income.
The table below shows that owning 10,000 shares of this REIT would generate $300 in monthly income.
| Company | Recent Price | Number of Shares | Dividend | Total Payouts | Frequency |
| Northwest Healthcare Properties REIT | $4.96 | 10,000 | $0.03 | $300 | Monthly |
Price as of 06/20/2025
