Wealthy Living

3 Highest Yielding Monthly Dividend Stocks Canada You Should Consider

Monthly dividend stocks allow for dividend investors to compound their wealth monthly as opposed to quarterly, which is the most common dividend schedule in the world of investing.

This frequent dividend payment allows for investors to reinvest their money more quickly if they are in the asset accumulation phase of their life, or to cover living expenses for retirees.

Here are three Canadian companies trading on the Toronto Stock Exchange which have dividend yields of 5% to 6% and have paid dividends every single month for many years.

Canadian High-Yield Stock #1: Pembina Pipeline Corp. (PBA)

Pembina Pipeline Corporation is a major provider of transportation and midstream services. Pembina owns pipelines which transport hydrocarbon liquids and natural gas products.

Additionally, they own gas gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business.

They operate in Western Canada and have served their customers for more than 65 years.

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Canadian High-Yield Stock #2: Exchange Income Corporation (EIFZF)

Exchange Income Corporation is a business which makes investments and acquires companies in the aerospace and aviation services and equipment sector, as well as the manufacturing sector.

The companies acquired are in defensible niche markets – medevac transportation, manufacturing of aerospace and defense components, manufacturing of an advanced unitized “window wall system”

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