1.RioCan REIT
REI.UN (TSX)
RioCan REIT stands out as one of Canada’s largest monthly dividend REITs, focusing on retail properties and delivering a solid dividend yield of 5.04%. With a notable 1-year return of 30.33% and a steady 5-year return of 4.36%, it is an attractive option for investors seeking reliable income and growth potential. Recent upgrades by BMO Capital to an "Outperform" rating further enhance its appeal, highlighting its strong fundamentals in the retail sector.
Pros:
- High dividend yield
- Strong recent performance
Cons:
- Mixed long-term returns
- Exposure to retail sector risks
2.Fortis Inc.
FTS.TO (TSX)
Fortis Inc. stands out as a reliable choice for investors seeking consistent income, boasting a history of 52 consecutive years of dividend increases. With a solid dividend yield of 3.37% and significant 1-year and 5-year returns of 27.74% and 47.79%, respectively, it demonstrates the potential for stable growth in a financially healthy utility sector. Analysts maintain a positive outlook, with Barclays rating it as "Overweight," reflecting confidence in its ongoing performance.
Pros:
- Stable monthly dividend growth
- Strong historical returns
Cons:
- Market volatility risk
- Dependence on utility sector performance
3.Shaw Communications
SJR-B.TO (TSX)
Shaw Communications stands out as a top-rated Canadian telecommunications company, offering investors a reliable monthly dividend with a yield of 3.02%. With an impressive 1-year return of 12.75% and a staggering 90.60% return over the past five years, it positions itself as an attractive option for those seeking both income and growth. Analysts have recognized its strong performance, awarding it an A+ rating, highlighting its potential for consistent payouts and financial health.
Pros:
- Consistent monthly dividends
- Strong historical returns
Cons:
- Acquired by Rogers Communications
- No longer publicly traded
4.H&R REIT
HR.UN (TSX)
H&R REIT, a Canadian monthly dividend real estate investment trust, boasts a diversified property portfolio and offers an attractive dividend yield of 5.40%. However, investors should note the 5-year return has seen a decline of 31.50%, despite a modest 1-year return of 4.03%. CIBC has rated it as an "Outperform," indicating potential for recovery in the future.
Pros:
- High dividend yield
- Diverse property portfolio
Cons:
- Negative long-term returns
- Market volatility risk
5.Boardwalk REIT
BEI.UN (TSX)
Boardwalk REIT, a Canadian monthly dividend REIT specializing in residential properties, offers an attractive investment opportunity for those seeking reliable income, despite a challenging year with a -5.10% return. Currently, it boasts a dividend yield of 2.59%, supported by strong performance over the past five years with a remarkable 64.07% return. Recent analyst ratings reflect mixed sentiment, with Desjardins upgrading to a Buy and Canaccord Genuity downgrading to Hold, suggesting a potential for growth amid varying market perceptions.
Pros:
- Strong historical performance
- Focus on residential properties
Cons:
- Negative recent returns
- Market exposure risks
Did you know?
Monthly dividend payers are popular with income investors but may cluster in REITs and income trusts. Review tax treatment, currency, and whether monthly cash flow fits a TFSA or taxable plan.
Final Words
As you consider your investment options for monthly dividend stocks this July 2026 in Canada, remember to evaluate the stability and yield of your choices. Take time to compare these opportunities and conduct your own research to ensure you make informed decisions that align with your financial goals.
Frequently Asked Questions
Fortis Inc. is a Canadian utilities company known for its stable monthly dividend growth. It operates in the electric and gas utility sector, providing services to approximately 1.1 million customers across Canada and the U.S., making it a reliable choice for dividend investors.
The current dividend yield for Fortis Inc. is approximately 3.37%. This yield reflects the company's commitment to providing consistent returns to its shareholders through regular dividend payments.
Fortis Inc. has shown strong performance, with a 1-Year Return of 27.74% and a 5-Year Return of 47.79%. This consistent growth makes it an attractive option for investors looking for both income and capital appreciation.
Like all investments, Fortis Inc. carries risks, including market fluctuations and changes in regulatory policies affecting utilities. It's essential for investors to consider these factors when evaluating their investment strategy.
When choosing monthly dividend stocks, consider the company's dividend yield, payout history, and overall financial health. Additionally, evaluate the stability of the sector and the company's market position to ensure reliable income.
Monthly dividend stocks provide more frequent cash flow compared to quarterly dividend stocks, which can be advantageous for investors seeking regular income. However, the choice between them should also consider the company's stability and growth potential.
