Best Monthly Dividend Stocks in Canada This November 2025
According to Invest Canada, 68% of Canadian investors are seeking monthly dividends for income stability. Understanding dividend investing strategies can help investors build a more robust and consistent income stream. Here are the top 12 stocks to consider.
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Summary Table for Best Monthly Dividend Stocks in Canada This November 2025
| Stock | Dividend | 1-Year Return | Learn More |
|---|---|---|---|
|
Tamarack Valley Energy (TVE) Dividend Income |
2.30% | 13.76% | Learn More |
|
Whitecap Resources Inc Dividend Income |
6.92% | 32.45% | Learn More |
|
Brookfield Renewable Partners (BEP.UN) Dividend Income |
4.92% | 24.57% | Learn More |
|
Northland Power Inc Dividend Income |
4.91% | 27.97% | Learn More |
|
TransAlta Renewables Inc Dividend Income |
1.09% | 0% | Learn More |
|
Capital Power (CPX) Dividend Income |
6.82% | 30% | Learn More |
|
Waste Connections (WCN) Dividend Income |
0.8% | 8.18% | Learn More |
|
Brookfield Infrastructure Partners (BIP.UN) Dividend Income |
5.02% | 8.18% | Learn More |
|
Enbridge Inc Dividend Income |
5.84% | 1,700% | Learn More |
|
BCE Inc Dividend Income |
5.40% | -22.87% | Learn More |
|
Fortis Inc Dividend Income |
3.50% | 12.8% | Learn More |
|
Algonquin Power & Utilities Corp Dividend Income |
4.51% | 22.42% | Learn More |
1. Tamarack Valley Energy (TVE)
Tamarack Valley Energy is a Canadian oil and gas company committed to generating lasting value by delivering responsible energy development and real returns to shareholders through strategic asset management in the Western Canadian Sedimentary Basin.
Tamarack Valley Energy (TVE)
- Exploration, development, and production of oil and natural gas
- Focused on Western Canadian Sedimentary Basin
- Planned production guidance of 67,000 – 69,000 boe/d for 2025
- Strategic acquisition and divestiture activities
Pros
- Strong production guidance for 2025
- Positive stock price forecast
- Committed to responsible energy development
- Consistent dividend payments
Cons
- Dependent on oil and gas market fluctuations
- Potential environmental regulatory challenges
- Sensitivity to commodity price changes
Why is it Our Top Pick?
Tamarack Valley Energy stands out for its strategic approach to energy development, demonstrating strong financial guidance with a 3% upward revision in 2025 production targets. The company's commitment to delivering responsible returns and consistent quarterly dividends makes it an attractive investment in the Canadian energy sector.
2. Whitecap Resources Inc
Whitecap Resources is a leading Canadian energy company committed to delivering reliable returns to shareholders through responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin, offering an impressive high-yield dividend strategy.
Whitecap Resources Inc
- Monthly dividend payments
- High dividend yield of 6.92%
- Strong market capitalization of $12.67B
- Consistent shareholder returns
Pros
- Consistent monthly dividend payouts
- Strong analyst "buy" recommendation
- Healthy debt-to-equity ratio of 26.9%
- Large market capitalization
Cons
- Volatility in energy sector
- Dependence on oil and gas market conditions
- Modest one-year return of 0.48%
3. Brookfield Renewable Partners (BEP.UN)
Brookfield Renewable Partners is a leading global renewable energy company offering investors exposure to a diversified portfolio of high-quality renewable power assets across multiple countries. With a strong track record of dividend growth and sustainable energy investments, BEP provides an attractive opportunity for investors seeking both environmental impact and financial returns.
Brookfield Renewable Partners (BEP.UN)
- Globally diversified renewable power portfolio
- Operations in North America, Colombia, and Brazil
- Dual listing structure (BEP and BEPC)
- Focus on high-quality renewable energy assets
Pros
- High dividend yield of 4.92%
- Proven track record of increasing payouts
- Globally diversified renewable energy portfolio
- Strong market performance (35.7% YTD return)
Cons
- Sensitivity to energy market fluctuations
- Potential regulatory changes in renewable energy sector
- Dependence on geographical energy markets
4. Northland Power Inc
Northland Power is a prominent Canadian renewable energy producer with international operations, offering investors exposure to a diverse portfolio of power generation assets across multiple countries. With a strong analyst consensus and attractive dividend yield, the company presents a compelling investment opportunity in the renewable energy sector.
Northland Power Inc
- Operations in Canada, Netherlands, Germany, Colombia, and Spain
- Monthly dividend payments
- Strong market presence in renewable energy
- Cumulative 5-Year Rate Reset Preferred Shares
Pros
- High dividend yield of 4.91%
- Analyst consensus of "Strong Buy"
- Diversified international operations
- Significant YTD return of 50.54%
Cons
- Low Return on Equity (8.2%)
- Significant use of debt
- Potential credit market volatility
5. TransAlta Renewables Inc
TransAlta Renewables has undergone a significant transformation, being fully acquired by its parent company TransAlta Corporation and delisted from the Toronto Stock Exchange in October 2023. This strategic move simplifies the company's corporate structure and positions it for future growth in renewable energy generation.
TransAlta Renewables Inc
- Formerly independent renewable energy company
- Now fully integrated with TransAlta Corporation
- Operates diverse power generation assets
- Facilities across Canada, US, and Australia
Pros
- Part of larger, established energy company
- Multiple renewable energy technologies
- International operational presence
- Consistent dividend history
Cons
- Delisted from independent trading
- Reduced investor visibility
- Lower current dividend yield
- Limited standalone performance data
6. Capital Power (CPX)
Capital Power is a growth-oriented North American power producer publicly traded on the TSX, specializing in developing, acquiring, and operating renewable and thermal power generation facilities across Canada and the United States.
Capital Power (CPX)
- North American power generation
- Renewable and thermal energy facilities
- Publicly traded on TSX
- Headquartered in Edmonton, Alberta
Pros
- Over 30% stock price appreciation
- 4.2% dividend yield
- Long-term investment potential
- Expanding renewable energy presence
Cons
- Potential market correction risk
- Dependent on energy market fluctuations
- High payout ratio
- Sensitivity to regulatory changes
7. Waste Connections (WCN)
Waste Connections is a leading integrated waste management company in North America, providing essential non-hazardous waste collection and disposal services across the United States and Canada. The company stands out as the third-largest provider of solid waste and recycling services in the region, offering consistent and reliable infrastructure solutions.
Waste Connections (WCN)
- Third-largest integrated waste management provider in North America
- Offers non-hazardous waste collection, transfer, and disposal services
- Operates across United States and Canada
- Strong history of consistent dividend growth
Pros
- Robust waste management infrastructure
- Stable service sector with consistent demand
- Multiple stock splits indicating growth
- Strong financial guidance for 2025
Cons
- Low dividend yield (0.8%)
- Exposure to commodity-driven volatility
- Potential market sensitivity to economic fluctuations
- Modest recent returns compared to market benchmarks
8. Brookfield Infrastructure Partners (BIP.UN)
Brookfield Infrastructure Partners is a global powerhouse in infrastructure investment, owning and operating high-quality, long-life assets across utilities, transport, midstream, and data businesses. With over $900 billion in assets under management, the company offers investors a diversified and strategic approach to infrastructure investing.
Brookfield Infrastructure Partners (BIP.UN)
- Global infrastructure asset management
- Operates in utilities, transport, midstream, and data sectors
- Owns approximately 2,900 infrastructure assets
- Consistent distribution increase history since 2009
Pros
- Stable cash-generating infrastructure assets
- Global investment footprint
- Consistent distribution growth
- Part of Brookfield Corporation's ecosystem
Cons
- Modest recent returns
- Potential market volatility
- Complex investment structure
- Performance dependent on global infrastructure market
9. Enbridge Inc
Enbridge is a multinational pipeline and energy infrastructure giant headquartered in Canada, offering investors a compelling opportunity with over 500% total returns since 2001 and a robust dividend yield of 5.84%.
Enbridge Inc
- Owns and operates pipelines across Canada and United States
- Transports crude oil, natural gas, and natural gas liquids
- Generates renewable energy
- Moves 30% of North America's crude oil and 20% of natural gas
Pros
- Stable, long-term income potential
- Essential infrastructure with consistent demand
- Diversified energy portfolio
- Strong historical returns
Cons
- Dependent on hydrocarbon transportation
- Potential risks from energy transition
- Market volatility in energy sector
- Sensitivity to oil and gas prices
10. BCE Inc
BCE is a leading Canadian communications company providing essential wireless, internet, and television services, offering investors a resilient telecommunications stock with a current dividend yield of 5.40%.
- Wireless and internet service provider
- Offers broadband, television, and landline phone services
- Operates across Canada
- Essential communication infrastructure
Pros
- Diversified telecommunications services
- Stable, essential business model
- Consistent dividend history
Cons
- Recent significant dividend cut
- Negative 1-year return
- High payout ratio
- Market underperformance
11. Fortis Inc
Fortis Inc is a leading utility company operating across Canada, the United States, and the Caribbean, offering stable electric and gas utility services with a consistent track record of dividend growth and reliable cash flows.
Fortis Inc
- Operates utility transmission and distribution assets in Canada and the United States
- Serves over 3.4 million electricity and gas customers
- Listed on Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE)
- Consistent dividend growth strategy
Pros
- Low beta (0.4) indicating lower market volatility
- Reliable utility sector investment
- Strong dividend history
Cons
- Moderate dividend yield
- Utility sector can be sensitive to interest rate changes
- Limited high-growth potential
12. Algonquin Power & Utilities Corp
Algonquin Power & Utilities Corp is a renewable energy provider with a diverse portfolio of long-term contracted wind, solar, and hydroelectric generating facilities, offering investors exposure to sustainable energy infrastructure.
Algonquin Power & Utilities Corp
- Renewable energy portfolio including wind, solar, and hydroelectric facilities
- Diversified utility operations
- Quarterly dividend payments
- Commitment to sustainable energy generation
Pros
- Exposure to renewable energy sector
- Diversified utility operations
- Quarterly income stream
Cons
- Recent 40% dividend cut
- Volatility in renewable energy market
- High PE ratio of 139.50
Final Words
Selecting the ideal financial product ultimately depends on your individual goals, spending patterns, and financial situation. We recommend comparing the features and benefits of our top picks, then taking action to optimize your financial strategy for the current market conditions.
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Frequently Asked Questions: Best Monthly Dividend Stocks in Canada This November 2025
What are the top monthly dividend stocks in Canada for November 2025 with the highest yields?
Tamarack Valley Energy (TVE), Whitecap Resources Inc, and Brookfield Renewable Partners (BEP.UN) currently offer some of the most attractive monthly dividend yields in the Canadian market.
How can I choose the best monthly dividend stocks for consistent income in Canada?
Investors should focus on companies like TransAlta Renewables Inc and Northland Power Inc, which have demonstrated stable monthly dividend payments and strong financial performance.
Which renewable energy monthly dividend stocks in Canada offer the best returns in 2025?
Brookfield Renewable Partners (BEP.UN) and Northland Power Inc stand out as top performers in the renewable energy sector with consistently strong monthly dividend distributions.