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