Earning a monthly income from dividend stocks can not only bring stability to your portfolio, but also add a little convenience to your budgeting. Rather than waiting for a payout every three or six months, I prefer stocks that pay dividends every month. This means more frequent cash flow and potentially smoother reinvestment opportunities.
However, when choosing monthly payers, you can consider factors beyond returns, such as the company’s payout ratio, cash flow consistency, and long-term business fundamentals. In particular, companies that not only share profits today, but also build for tomorrow, are likely to maintain – and possibly even grow – their dividends over time.
In this article, I’ll talk about two top monthly dividend stocks that pay out regularly while staying focused on long-term performance.
Whitecap Resources stock
Whitecap Resources (TSX:WCP) could be a great high-yield monthly dividend stock that continues to deliver even in a volatile energy market. The operations of this oil-weighted producer, based in Calgary, spread across Alberta and Saskatchewan.
Interestingly, WCP stock has delivered an impressive 349% return over the past five years. As a result, it currently trades at $10.55 per share with a market cap of $12.8 billion. At this market price, it also offers a juicy annualized yield of 6.9%, backed by real assets and strong cash flows.
By the third quarter of 2025, the company’s oil and natural gas revenues were close to declining doubled to $1.7 billion from a year ago. While Whitecap’s adjusted earnings fell last quarter year-over-year (YoY) to $0.17 per share due to higher costs and lower oil prices, the business still generated $897 million in cash flows and $350 million in free cash flows. Strong cash flow gives the company the ability to continue investing while supporting the dividend.
More importantly, Whitecap has made rapid progress in integrating Veren’s assets. Recently, the company also raised its 2025 production outlook and set a healthy capital budget for 2026, with plans to grow both its unconventional and conventional assets.
From improved drilling at Kaybob Duvernay to infrastructure expansion in the Montney region, Whitecap shares have the potential to move ahead in the long term as they continue to reward investors month after month.
Northwest Healthcare Properties REIT Stock
Another top pick for monthly income in Canada, Northwest Healthcare Properties REIT (TSX:NWH.UN), from the global healthcare real estate sector. This Toronto-based real estate investment trust (REIT) owns a strong portfolio of hospitals, clinics and medical offices in North America, Australia, Brazil and Europe.
After rising 15% so far in 2025, the stock now trades at $5.14 each, with a market cap of about $1.3 billion. At this market price it yields 7% annually, with monthly payments.
In the quarter ended June 2025, Northwest reported net operating income of $76.3 million. For the quarter, adjusted operating funds came in at $0.10 per unit, with a much improved payout ratio of 88%, compared to 105% a year earlier. In the latest quarter, asset sales, lower interest costs and stable operations also helped the REIT post a net profit of $32.6 million, compared with a big loss a year ago.
In recent quarters, Northwest has been selling off non-core properties and using the proceeds to reduce debt. Meanwhile, occupancy remains strong at 97% with a weighted average lease term of 13.5 years, demonstrating the strength of the tenant base and rental structures.
Despite near-term headwinds, Northwest Healthcare’s focus on medical infrastructure and global diversification improves its long-term growth prospects, making it a top high-yield stock with monthly payouts.
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