The Best Dividend Stocks Over 4% for Immediate Monthly Income

Hour glass and calendar concept for time slipping away for important appointment date, schedule and deadline

In times of market volatility and economic uncertainty, the allure of monthly passive income cannot be overstated. While investors seek refuge from the storm, ensuring a steady and reliable stream of income is paramount. In this article, we will explore three dividend stocks. Each offers a safe haven for investors looking to bolster their monthly income while weathering economic turbulence.

AW.UN: The royalty fund gem

One of the steadfast options in the realm of monthly passive income is A&W Revenue Royalties Income Fund (TSX:AW.UN) on the TSX today. This intriguing choice belongs to the royalty fund category, providing investors with a unique blend of stability and income potential.

AW.UN stock has demonstrated its prowess in recent years, consistently delivering substantial growth. The stability of its dividends is a testament to its reliability. Investors have enjoyed a consistent payout, making it an attractive choice for those seeking dependable income. However, it’s essential to note that AW.UN faced a share decline of 8.5% in 2023, which may raise concerns. Nevertheless, the stock maintains an enticing 5.8% dividend yield, assuring investors of a reliable income source even in turbulent times.

SIA: Senior living’s secure bet

In the world of monthly dividend stocks, Sienna Senior Living (TSX:SIA) shines as a secure choice, particularly due to its involvement in the senior living sector. Senior living, a sector with a promising future, ensures a continuous demand for SIA’s services, translating into reliable dividends for investors.

SIA’s recent growth is commendable, underpinning its potential for long-term income generation. What sets it apart is the stability of its dividends, reassuring investors of a consistent payout. Moreover, SIA experienced steady share growth of 5% in 2023, indicating resilience even in uncertain markets. With an enticing 7.99% dividend yield, SIA offers investors a compelling opportunity to secure monthly income.

GRT.UN: Industrial REIT powerhouse

For those seeking monthly passive income in the real estate sector, Granite Industrial REIT (TSX:GRT.UN) on the TSX stands out as an exceptional choice. As a Real Estate Investment Trust (REIT) in the industrial sector, GRT.UN boasts impressive attributes that make it a solid contender. Industrial properties continue to experience demand in Canada, and this is likely to continue in the years to come. Hence, the incredible expansion the company has achieved.

GRT.UN has displayed remarkable growth in recent years, aligning with its reputation for stability. Investors have enjoyed a consistent dividend stream, reinforcing its status as a robust income generator. The stock’s share price surged by an impressive 10% in 2023, demonstrating its resilience in challenging times. GRT.UN’s 4.24% dividend yield is an enticing prospect for investors seeking consistent monthly income.

Bottom line: The trio for long-term income

In the unpredictable world of finance, the quest for reliable income remains constant. The trio of dividend stocks – AW.UN, SIA, and GRT.UN – discussed in this article, offers investors a path to secure their financial futures.

AW.UN’s royalty fund status, SIA’s senior living prospects, and GRT.UN’s position in the industrial REIT sector make them solid options for generating monthly passive income. Despite occasional fluctuations in their share price, this can mainly be attributed to a volatile marketplace today. All three have shown resilience in trying times, and should rebound quickly in the next few months. Meanwhile, today’s investor will continue receiving stable and consistent monthly income.

The post The Best Dividend Stocks Over 4% for Immediate Monthly Income appeared first on The Motley Fool Canada.

Should You Invest $1,000 In A&w Revenue Royalties Income Fund?

Before you consider A&w Revenue Royalties Income Fund, you’ll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in August 2023… and A&w Revenue Royalties Income Fund wasn’t on the list.

The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 26 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks
* Returns as of 8/16/23

setButtonColorDefaults(“#5FA85D”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43A24A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);

More reading

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends A&W Revenue Royalties Income Fund and Granite Real Estate Investment Trust. The Motley Fool has a disclosure policy.