Canadian Royalty Income Trusts used to be a popular investment, due to the high income and the tax benefits. But then the tax laws changed and glow went off these investments, and the companies switched from trusts to master limited partnerships and regular corporations. However, even though the original tax benefits are no longer there, these investments still have some benefits. There are several of these Canadian companies that pay high monthly incomes, according to the list of monthly dividend stocks at WallStreetNewsNetwork.com.
One interesting example is Provident Energy Ltd. (PVX), which is based in Calgary, Alberta, Canada and has been in business since 1993. The company extracts, transports, and markets natural gas liquids throughout Canada and the United States. The stock has a yield of 4.5% and provides monthly dividend payouts. The monthly dividend was just increased by 2.3%.
Pengrowth Energy Corporation (PGH) is another Canadian company that just increased its dividend from $0.069 per month to $0.07 per month, generating a yield 8.7% for the stock. The company explores for and produces oil and natural gas in the Western Canadian Sedimentary Basin.
To see other high yield Canadian oil and gas monthly dividend payers, and over 200 other monthly dividend stocks, check out the list at WallStreetNewsNetwork.com.
Disclosure: Author didn't own any of the above at the time the article was written.