Here’s What $50,000 in the Right Stocks Could Pay You Every Month

These four stocks could give you a steady income stream of $175/month. Here’s how the portfolio could work.

Key Points
  • Granite REIT for Steady Income: Invest $12,500 for a 4.3% yield, earning $44.40 monthly from high-quality logistics properties with a history of growing distributions.
  • Pembina & Mullen Group for Infrastructure and Transport: Allocate $12,500 each in Pembina (4.55% yield, $47.53 monthly) and Mullen (3.16% yield, $33.39 monthly) for diversified energy and transportation exposure.
  • Topaz Energy for Royalty Revenue: With $12,500 in Topaz, benefit from a 4.8% yield, earning $49.93 monthly, offering low-risk energy exposure and growing dividends.

Canada is a wonderful place to be a dividend stock investor. You can choose stocks across a wide mix of industries and sectors, all while earning an attractive stream of income. If I had $50,000 to invest, here are four dividend stocks I would buy evenly across my portfolio.

diversification is an important part of building a stable portfolio

Source: Getty Images

A top real estate stock for monthly income

The first stock I would put $12,500 into is Granite Real Estate Investment Trust (TSX: GRT.UN). With a market cap of $5.2 billion, it is the largest industrial real estate investment trust (REIT) in Canada.

Granite operates huge logistics and manufacturing properties that cater to modern e-commerce and distribution. These are institutional-grade assets that are occupied by high-quality tenants on long-term leases. Granite has an industry-leading balance sheet that allows it considerable flexibility.

Granite stock yields 4.3% after a recent pullback. Your investment would earn $44.40 monthly. It has a record of growing its distribution for 15 consecutive years, so that income is likely to grow.

A top infrastructure stock

Another stock to buy with $12,500 is Pembina Pipeline (TSX: PPL). With a market cap of $37 billion, this is the largest natural gas processor in Western Canada.

Pembina is becoming a diversified energy infrastructure leader in the West. It has pipelines, processing/fractionation facilities, storage, and export terminals. LNG terminals, ethane extraction plants, and data centre power are all new projects in its construction backlog.

While it already has a very steady, stable business, it will be even more resilient once these new assets enter operation.

Pembina stock yields 4.6%. While it pays a quarterly dividend, your investment would earn $47.53, averaged monthly. It has a record growing its dividend by a low-single digit rate every year.

A transport stock for monthly dividends

Mullen Group (TSX: MTL) is an attractive income option for those who like monthly dividends. With a market cap of $2.5 billion, it is a large logistics and transportation network across Canada and the U.S.

The company has used the recent downturn in the transportation sector to consolidate the sector and diversify its operations. As the downturn reverses, it should see better margins and earnings growth ahead.

Mullen stock yields 3.2%. Your investment would earn $33.39 monthly.

An energy royalty stock

Topaz Energy (TSX: TPZ) recently pulled back and looks like an attractive stock to buy with $12,500. It has a market cap of $4.5 billion.

It operates an energy infrastructure and land royalty business. If you want exposure to energy, but lower operational risk, this is a great stock to own. Topaz’s land assets are in highly productive regions. Likewise, it enjoys stronger results from elevated energy prices.

Topaz has very low overhead and streams most of its cash back to shareholders in dividends or asset acquisitions. Topaz stock yields 4.8% right now. It pays a quarterly dividend. Your investment would earn $49.93, averaged monthly. It has a long record of raising its dividend annually since its inception.

The Foolish takeaway

Combine this four-stock portfolio, and you would earn $175.26 of monthly average income from your $50,000 investment. Each of these stocks has a history of increasing its dividend, so there is certainly income upside from here as well.

COMPANYRECENT PRICENUMBER OF SHARESDIVIDENDTOTAL PAYOUTFREQUENCY
Granite REIT$82.99150$0.296$44.40Monthly
Pembina Pipeline$64.24194$0.735$142.59Quarterly
Mullen Group$26.19477$0.07$33.39Monthly
Topaz Energy$29.17428$0.35$149.80Quarterly

Fool contributor Robin Brown has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Mullen Group. The Motley Fool recommends Granite Real Estate Investment Trust, Pembina Pipeline, and Topaz Energy. The Motley Fool has a disclosure policy.

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