There are quite a few monthly dividend payers on the TSX these days. In this article I discuss three that yield more than 5%. These monthly dividend shares can be a source of regular, predictable income to supplement your work income or your retirement. Payments can be used to support your lifestyle or they can be reinvested, creating compound returns that really add up over time.
Without further ado, here are the monthly dividend stocks to consider.
Royalties Owned: A TSX energy stock yielding 6.72%
While oil prices can be extremely volatile and unpredictable, there are some oil and gas companies that have some protection from this harsh reality. Like Royalties owned (TSX:FRU). Freehold simply collects royalties from its properties and does no drilling or exploration of its own.
The company owns a portfolio of mineral titles and royalties on a diversified range of oil and gas properties in North America. The properties have high net backups, strong production profiles and are likely to benefit from the fast-growing liquefied natural gas, or LNG, industry.
Freehold Royalties currently yields 6.72%. In the latest quarter, earnings per share (EPS) were $0.21, which was 23.5% higher than the same period last year. In addition, operating cash flow was $180 million, up 10%. This TSX monthly dividend stock has a healthy payout ratio and a healthy balance sheet, which should see further improvements with the recent rise in natural gas prices.
Mullen Group: A 5% return and record results
The next attractive high yield monthly dividend stock I want to discuss is Mullen Group (TSX:MTL). Mullen currently yields 5.01%, and the stock is highly undervalued in my opinion.
In recent years, Mullen has made progress in diversifying its business away from the highly cyclical energy services industry. Today it is a diversified investment company focused on the logistics sector, with one of the largest logistics portfolios of companies in North America. It offers a wide range of transportation, storage and distribution services.
Notably, Mullen’s most recent quarter broke records: record revenue of $562 million rose 5.6%, and cash flow from operations rose 55% to $102 million. The results are driven by acquisitions and these acquisitions ensure that the company will become bigger and better in the coming years. Over the past five years, Mullen’s revenue has grown 71% to $2 billion by 2024.
This TSX stock is a rising monthly dividend star.
Boston Pizza: A 6.16% yield for this monthly dividend payer
Finally, Boston Pizza Royalties Revenue Fund (TSX:BPF.UN) is a top casual dining brand in Canada. It has an extensive network of local franchisees who continue to enhance the brand and its financial strength. This financial strength is clearly reflected in the fund’s December 2025 special dividend payment of $0.11 per share. This payment was more than the regular monthly dividend. And it was made possible thanks to Boston Pizza’s strong financial performance.
Through the first nine months of 2025, total revenues rose 4.9% to $39 million, and earnings per share rose 23% to $1.46. Distributable cash also increased 3.8% to $23.7 million. Finally, Boston Pizza has been paying dividends for more than two decades. This food product remains a stable and reliable monthly dividend stock of the TSX.
The bottom line
The three TSX monthly dividend stocks I reviewed in this article all have a few advantages: a strong management team, solid businesses with momentum, and high yields. Consider adding them to your portfolio for a consistent and reliable monthly income.
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