While shale currently has the energy spotlight, our neighbors to the north have long been oil & gas leaders. Canada features some of the richest deposits of crude oil and natural gas around. And just like here in the U.S., the nation features a wide range of energy firms tackling that energy. This includes our most recent Best Monthly Dividend Stocks List pick.
Our pick is one of the oldest midstream firms up north and can trace its roots back to the 1950s. Since then, the firm has continued to expand into a variety of pipelines, terminals, storage facilities and rail lines crossing Western Canadian oil fields.
What’s wonderful is that our pick is mostly paid on the volume of material flowing through its system. This removes much of the commodity risk and provides it with ample cash flows. And while it’s no longer a trust and taxed as a corporation, the firm continues to pay a high dividend every month. Currently it’s offering a 6.5% yield with the next distribution coming on March 1 (estimated date) when it goes ex-dividend. For investors looking for a high yield without the K-1 tax headache of an MLP, our pick is for you.
You can check out the Best Monthly Dividend Stocks List to explore all monthly dividend-paying stocks.
