Are you looking for monthly dividend income? First of all, don’t be fooled by all of the monthly income products like BMO Monthly Income Fund or TD Monthly Income Funds.
Much of your money goes to MER. issued (Management Expense Ratio) when purchasing these products. You’re already behind schedule before you invest …
Monthly dividend stocks are your best bet for solid and reliable monthly income with REITs as an alternative option, but not without its risks.
Even then, not all monthly income stocks are created equal. Many of these stocks were income trusts and were converted into companies and continued to receive monthly dividend payments.
Full list of monthly income stocks
Before we jump in the best Canadian companies that pay monthly dividend income, let’s see the full list. The best options available don’t always mean they will fit your portfolio.
If you look at the TSX, there aren’t many companies outside of REITs that pay a monthly dividend. I did some of the legwork though, and below is a list of all of the monthly dividend stocks that have been tracked using the Dividend Snapshot Screener.
Best Monthly Dividend Stocks
Given the limited options, I’ve picked the top 5 stocks outside of REITs that can offer both stock appreciation and dividend growth.
As a rule of thumb for monthly income, I stay away from energy stocks as the stability in the state of fossil fuels versus renewables is not clear. The first adjustment that an energy company could possibly make is to switch to quarterly revenue as soon as there are challenges.
Northern land power
Northland Power is an electricity producer that designs, builds, owns and operates clean and green power infrastructure assets in Canada, Europe and other global markets.
As one of Canada’s first independent power producers, Northland Power has operations worldwide generating over 2.6 GW of electricity, with an additional 130 MW of generating capacity under construction and over 1,100 MW in the project pipeline.
Northland has its own development, plant design, financing and operating capabilities. The company has more than three decades of experience in generating electricity from natural gas and renewable energy sources.
TransAlta Renewables Inc.
TransAlta Renewables is a renewable energy company and one of the largest wind power generators in Canada. It is a sponsored vehicle from the TransAlta Corporation.
With over a century of experience, TransAlta Renewables has a wealth of experience owning, operating and maintaining a large fleet of power generation equipment.
TransAlta Renewables owns and operates 21 wind farms, 13 hydropower plants, seven natural gas power plants, a solar plant and a natural gas pipeline in the USA, Canada and Australia. Strongly contracted systems for power generation from renewable energies and natural gas as well as long-term contracts with strong counterparties ensure stable cash flows for the company.
Most of its wind, water and gas plants have an established track record in terms of both operational history and performance. TransAlta Renewables owns renewable energy facilities in various regions and across multiple technologies.
The company has more than 2,400 MW of net generation capacity, either directly or through commercial interests, and is strategically positioned to serve growing industrial regions.
Shaw Communications is a leading networking company and one of the largest residential communications service providers in Canada.
The company serves 3.2 million subscribers, including 1.9 million Internet and more than one million Shaw home phone customers. It has an extensive network of 860,000 kilometers of fiber optic networks that provide data networks, video, voice and Internet services to companies of all sizes.
Shaw Communications is present in both the fixed line (80% of sales) and mobile (20%) segments. The wireline division comprises consumer and business services. The mobile communications division offers wireless voice and data services via its mobile communications network infrastructure.
Shaw Communications operates in partnership with retail partners such as Walmart and Loblaws over a large hybrid fiber-coax network and expanding retail wireless distribution infrastructure. Its strategic partnership with industry leaders such as Comcast, Nokia and Cisco and its seamless connectivity experience are its strong competitive advantages.
AltaGas is a North American diversified energy infrastructure company. It is committed to providing affordable natural gas through regulated natural gas utilities and trades more than 1.5 billion cubic feet of natural gas per day.
In addition, AltaGas offers storage facilities, interstate natural gas transport, energy efficiency contracting and electricity marketing services for retailers.
The company operates in the midstream, utilities and energy segments. It serves 1.6 million utility customers and has more than $ 21 billion in infrastructure assets in some of the fastest growing energy markets in North America. AltaGas’ assets include a good mix of gas, electricity and utility assets.
The midstream business primarily serves customers in the western Canadian sedimentary basin. AltaGas is known for its world-class energy solutions, the strength of its assets and its expertise along the energy value chain.
The company benefits from having a stable utility company and high-growth midstream facilities.
First national finance company
First National Financial Corp is Canada’s largest non-bank mortgage lender. Over the past thirty years of business, the company has built a leading reputation in real estate finance with over $ 106 billion in mortgage management and is now the largest commercial mortgage lender in the country.
Residential real estate (single-family residential mortgages) and commercial (multi-family residential and commercial mortgages) are the two operational business areas.
More than 80% of MUAs are insured mortgages, followed by conventional family residential mortgages (13%) and multi-family residential and commercial mortgages (6%). She maintains diverse and flexible sources of funding and is known for her prudent and conservative underwriting practices.
Size, large national presence and focus on mortgage financing are key differentiators for the company. The Canadian mortgage market is valued at over $ 1.1 trillion and First National’s reputation as a leader is in a good position to take advantage of this opportunity.
My portfolio has generated over 12% annual returns since 2009. It’s not since the beginning of the year or 2019 it’s from 2009 !!! That’s a constant return, which means that, following the rule of 72, I double my portfolio every 6 years.
My approach is simple, but you need key data that I cultivated using the Dividend Snapshot Screeners. No other investment services provide you with easily understandable data, but also actionable data. No hidden magic.
In fact, I’ve tried all of the investment services for dividend investors like an investment services crash test dummy. Just ask me and you will see why there was nothing I could use out there and build the dividend snapshot screeners.