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Top Canadian Dividend Stocks That Pay Monthly

Canadian stocks that pay monthly dividends are far and few in-between. We have compiled a list of the best Canadian based dividend stocks that pay their dividends monthly, month after month!
Generally medium to large cap Canadian dividend stocks pay on a quarterly basis (4 times per year). 

In our dividend stocks in Canada, we have included typical equities, REITs, ETFs and other types of income producing companies that pay monthly dividends. The highest yielding dividends usually come from covered call ETFs and split corps, both have varying management fees, similar to mutual funds.

Monthly Dividend Stocks Canada

Stock TickerPriceDescriptionAnnual Dividend
NXF.TO6.36CI Energy Giants Covered Call ETF8.34%
CGXF.TO13.79CI Gold+ Giants Covered Call ETF12.29%
HEP.TO32.55Horizons Enhanced Income Gold Producers ETF6.82%
BK.TO14.94Canadian Banc Corp.10.57%
HDIV.TO18.81Hamilton Enhanced Multi-Sector Covered Call ETF
PDV.TO9.04Prime Dividend Corp.8.74%
ENS.TO16.21E Split Corp.9.62%
LFE.TO4.57Canadian Life Companies Split Corp.26.85%
SBC.TO13.62Brompton Split Banc Corp.8.81%
LBS.TO10.85Life & Banc Split Corp.11.06%
HHL.TO9.05Harvest Healthcare Leaders Income ETF8.44%
DGS.TO7.23Dividend Growth Split Corp.16.60%
DFN.TO8.57Dividend 15 Split Corp.14.00%
HYLD.TO16.84Hamilton Enhanced U.S. Covered Call ETF9.79%
DF.TO6.4Dividend 15 Split Corp. II18.75%
RS.TO18.9Real Estate Split Corp.8.25%
HDIF.TO9.86Harvest Diversified Monthly Income ETF8.50%

Highest Paying Monthly Canadian Dividend Stocks

The highest paying monthly Canadian dividend stocks, meaning the ones with the highest monthly yield are posted below. 

As you will see from the list, most high yielding monthly dividend stocks are split corporations, covered call ETFs and sometimes REITs. 

These high yielding equities are not specifically managed for growth, rather their goals are to have steady monthly high paying dividend yields.

Highest Yielding Monthly Dividend Stocks Canada

Stock TickerPriceDescriptionAnnual Dividend
FFN.TO7.05North American Financial 15 Split Corp.19.29%
DF.TO6.4Dividend 15 Split Corp. II18.75%
DFN.TO8.57Dividend 15 Split Corp.14.00%
FTN.TO11.43Financial 15 Split Corp.13.20%
CGXF.TO13.79CI Gold+ Giants Covered Call ETF12.29%
LBS.TO10.85Life & Banc Split Corp.11.06%
TXF.TO18.65CI Tech Giants Covered Call ETF10.72%
BK.TO14.94Canadian Banc Corp.10.57%
GDV.TO11.87Global Dividend Growth Split Corp.10.11%
DS.TO8.95Dividend Select 15 Corp.9.80%

The Best Monthly Dividend Paying Stocks Canada

It can be said that there are not many growth companies that pay monthly dividends in Canada. Although there may not be many, we have selected the best monthly dividend paying stocks down below.

Pembina Pipeline -Ticker: PPL.TO

Dividend Yield: 5.18%

Pembina pipeline is a transport and midstream provider of crude oil, condensate and natural gas. Over the span of its 21 years of paying dividends, they have paid out over 6 billion dollars back to their investors. With modest dividend growth over the last 5 years, Pembina’s current forward dividend yield is 5.18%.

Pembina Pipeline’s high dividend yield which pays month makes them one the best monthly dividend stocks in Canada.

Keyera Corp – Ticker: KEY.TO

Dividend Yield: 5.78%

Another great Canadian monthly paying dividend stock is Keyera Corp. Keyera’s main business involves energy infrastructure in Canada. The company operates through gathering and processing, liquids infrastructure, and marketing segments. Keyera has approximately 4,400 km of pipelines and holds interests in 12 active gas plants in Alberta. They were founded in 2003 with their headquarters in Calgary AB Canada.

Keyera Corp’s current forward dividend yield is a healthy 5.78%. Be sure to take note that they pay dividends monthly.

About This Article

Author: Mark Prosz

Sources of information and credits for this post include: Research and data provided by –