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A good monthly paying dividend stock. That sounds like a dream for every income -seeking investor. Fortunately, unlike that dream, where you win the lottery and live happily ever after, this dream can come true!
Exchange Income Corporation (TSX: EIF) is a good monthly paying dividend share that should be everywhere on the radar of investors.
Meet exchange
Exchange established in Winnipeg is an acquisition -oriented company. Exchange has more than a dozen subsidiaries that are broadly classified under aviation and production segments.
Exchange operates a flight school on the side of the aviation side and operates airlines that offer freight and passenger service to the remote northern regions of Canada. Regarding the production segment, there are examples the manufacture of the tower of mobile phones and adapted production for the defense and space industry.
Those segments are unique because they focus on specific niches in the market and generate profit. Sometimes one subsidiary can lean to the next to bring things from one segment to another. For example, graduates from the flight school can get the chance to work within one of the airlines of Exchange.
This diversified model ensures defensive attraction, generating income and growth potential.
It is also worth mentioning that Exchange maintains an aggressive attitude towards growth. A recent example of this is the loving $ 205 million deal for Canadian North.
Canadian North offers crucial service to the northern regions of Canada, and thanks to this deal, the exchange is now connected to a considerably lake of the northern market. The deal also includes aircraft, infrastructure and even government partnerships in the north.
Let’s talk about income
One of the main reasons why investors continue to turn to exchange because of the monthly dividend. In short, exchange is a good monthly paying dividend that can offer passive growth and a juicy yield.
From the moment of writing, Exchange offers a tasty yield of 3.62%. For those investors with $ 25,000 to invest, that amounts to a monthly income of just over $ 75.
Keep in mind that investors who are not ready to draw on that income can choose to invest those dividends again. This allows any income to continue to grow until it is necessary.
Speaking of growth, potential investors must also note that Exchange has bumped that dividend 17 times in the past two decades. The company is also planning to continue that cadence, making this a good monthly paying dividend shares a must-have for every investor.
Exchange is a good monthly paying dividend stock
No stock is without any risk. Exchange offers investors the opportunity to invest in more than a dozen subsidiaries, each with defensive profession and growth potential. Those subsidiaries also finance an excellent dividend that continues to grow.
In my opinion, Exchange is not only a good monthly paying dividend shares, it is a great investment option that should have a small position in a well -diversified portfolio.
Buy it, hold it and see your portfolio grow.
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