Monthly Dividend Stocks Canada: Top 3 High Yield Stocks 

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.

In this article 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.

Current Events

To further fuel growth, Pembina entered into an agreement with KKR to combine their western Canadian natural gas processing assets into one single, joint venture entity.