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2 Stocks Yielding up to 7.4% to Buy for Income

Baystreet.ca

Many investors are turning to monthly dividend stocks to supplement their monthly income, because traditional sources of income, such as GICs, term deposits, and bonds, yield next to nothing these days. With this in mind, let’s take a closer look at two great income stocks you could buy today.

Cineplex Inc.

Cineplex Inc. (TSX:CGX) is one of Canada’s leading entertainment and media companies, including its largest owner and operator of movie theatres with 164 across the country that serve about 75 million guests annually.

Cineplex currently pays a monthly dividend of $0.14 per share, equal to $1.68 per share annually, giving it a yield of about 3.25%. Investors must also note that the company is currently on pace for 2017 to mark the seventh consecutive year in which it has raised its annual dividend payment, making it both an income and dividend-growth play today.

NorthWest Healthcare Properties REIT

NorthWest Health Prop Real Est Inv Trust (TSX:NWH.UN) is one of the largest global diversified healthcare REITs. It currently has ownership interests in 142 income-producing properties and 9.5 million square feet of gross leasable area located across major markets in Canada, Brazil, Germany, Australia, and New Zealand.

NorthWest pays a monthly distribution of $0.06667 per unit, equal to $0.80 per unit annually, which gives it a yield of about 7.4% today. It’s also important to note that the company has maintained its current annual distribution rate since its initial public offering in March 2010, making it a very reliable income provider.