Earning a monthly income from dividend stocks could not only bring stability to your portfolio but also add a bit of ease to your budgeting. Instead of waiting every three or six months for payouts, I prefer stocks that pay dividends every single month. This means more frequent cash flow and potentially smoother reinvestment opportunities.
However, while picking monthly payers, you may want to consider factors beyond just yield, including the company’s payout ratio, cash flow consistency, and long-term business fundamentals. Mainly, businesses that are not only sharing profits today, but also building for tomorrow are more likely to maintain – and potentially grow – their dividends over time.
In this article, I’ll talk about two top monthly dividend stocks that are paying out regularly while staying focused on long-term performance.
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Whitecap Resources stock
Whitecap Resources (TSX: WCP) could be a great high-yield monthly dividend stock that continues to deliver, even in a volatile energy market. The operations of this oil-weighted producer, based in Calgary, spread across Alberta and Saskatchewan..
Interestingly, WCP stock has delivered an impressive 349% return in the last five years. As a result, it currently trades at $10.55 per share with a market cap of $12.8 billion. At this market price, it also offers a juicy annualized yield of 6.9%, which is backed by real assets and strong cash flows.
In the third quarter of 2025, the company’s petroleum and natural gas revenue almost doubled from a year ago to $1.7 billion. While Whitecap’s adjusted earnings dropped YoY (year-over-year) to $0.17 per share last quarter due to higher expenses and lower oil prices, its business still generated $897 million in funds flow and $350 million in free funds flow. Strong cash flow gives it the ability to keep investing while supporting the dividend.
More importantly, Whitecap has been making fast progress on integrating the Veren assets. Recently, the company also raised its 2025 production outlook and set a healthy capital budget for 2026, with plans to grow both its unconventional and conventional assets.
From improved drilling at Kaybob Duvernay to expanding infrastructure in the Montney region, Whitecap stock has the potential to inch up in the long run while continuing to reward investors month after month.
Northwest Healthcare Properties REIT stock
Another top pick for monthly income in Canada, Northwest Healthcare Properties REIT (TSX:NWH.UN), hails from the global healthcare real estate industry. This Toronto-based real estate investment trust (REIT) owns a strong portfolio of hospitals, clinics, and medical offices across North America, Australasia, Brazil, and Europe.
After climbing 15% so far in 2025, its stock now trades at $5.14 per unit with a market cap of about $1.3 billion. At this market price, it yields 7% annually, with monthly distributions.
In the quarter ended in June 2025, Northwest reported net operating income of $76.3 million. For the quarter, its adjusted funds from operations came in at $0.10 per unit, with a much-improved payout ratio of 88%, down from 105% a year earlier. In the latest quarter, asset sales, reduced interest costs, and stable operations also helped the REIT post a net profit of $32.6 million compared to a big loss a year ago.
In recent quarters, Northwest has been selling non-core properties and using proceeds to reduce debt. Meanwhile, its occupancy remains strong at 97% with a weighted average lease term of 13.5 years, showing the strength in its tenant base and lease structures.
Despite short-term headwinds, Northwest Healthcare’s focus on medical infrastructure and global diversification brightens its long-term growth outlook, making it a top high-yield stock for monthly payouts.
