If your employer doesn’t offer a pension plan, you don’t need to worry, you just need to take action by creating your own. You can do this by investing in stocks that pay dividends on a monthly basis, so let’s take a quick look at four with high and safe yields of 3-8% that you could buy right now.
1. Northview Apartment REIT
Northview Apartment REIT (TSX:NVU.UN) is one of Canada’s largest multi-family REITs. It owns and manages apartments, townhomes, and single-family apartment buildings, comprising of more than 24,000 units located across eight provinces and two territories. It also owns and operates execusuites and hotels where rental periods range from a couple of days to several months, and a number of commercial properties that are focused on government and high-quality corporate tenancies.
It pays a monthly distribution of $0.1358 per share, or $1.6296 per share annually, which gives its stock a yield of about 7.3% at current levels. It has also raised its annual distribution for three consecutive years, and its very strong financial performance, including its 9.7% year-over-year increase in adjusted funds from operations to $0.57 per share in the first quarter of 2016, could allow it to continue this streak in 2016 by announcing a slight hike when it releases its second-quarter earnings results on August 11.
2. Pembina Pipeline Corp.
Pembina Pipeline Corp. (TSX:PPL)(NYSE:PBA) is a pure-play energy infrastructure company with operations in Canada and North Dakota, USA. Its assets include conventional oil, oil sands, and heavy oil pipelines, natural gas pipelines, processing facilities, and fractionation plants, oil and natural gas storage facilities, and truck terminals.
It pays a monthly dividend of $0.16 per share, or $1.92 per share annually, which gives its stock a yield of about 4.9% at current levels. It has also raised its annual dividend payment for four consecutive years, and its two hikes since the start of 2015, including its 4.9% hike in March of this year, has it on pace for 2016 to mark the fifth consecutive year with an increase.
3. Cineplex Inc.
Cineplex Inc. (TSX:CGX) is Canada’s largest owner and operator of movie theaters with 162 from coast to coast that serve approximately 77 million guests annually. It also has operations in food service, alternative programming and events, digital commerce, advertising, and amusement gaming, and it owns 50% of SCENE, Canada’s largest entertainment loyalty program.
It pays a monthly dividend of $0.135 per share, or $1.62 per share annually, which gives its stock a yield of about 3.1% at current levels. It has also raised its annual dividend payment for five consecutive years, and its two hikes since the start of 2015, including its 3.8% hike in May of this year, has it on pace for 2016 to mark the sixth consecutive year with an increase.
4. Sienna Senior Living Inc.
Sienna Senior Living Inc. (TSX:SIA) is Canada’s fifth-largest owner and operator of senior housing communities, and it’s the largest licensed provider of long-term care in Ontario. Its portfolio consists of 35 long-term care facilities, comprising of over 5,700 beds, and 11 retirement communities, comprising of over 1,200 suites, located across Ontario and British Columbia.
It pays a monthly dividend of $0.075 per share, or $0.90 per share annually, which gives its stock a yield of about 5.2% at current levels. It has maintained this annual rate since 2013, and its very strong financial performance, including its 10.7% year-over-year increase in adjusted funds from operations to $0.361 per share in the first quarter of 2016, could allow it to continue to do so going forward or allow it to announce a hike when it releases its second-quarter earnings results on August 10.
