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Investing in dividend stocks that pay a monthly dividend can help you begin a passive-income stream at a low cost. As dividend payouts are not guaranteed and can be revoked or dialled back if company financials deteriorate, it’s essential to identify entities that enjoy stable cash flows across market cycles. Ideally, these payouts should also grow over time, enhancing the yield at cost significantly.
Here are three TSX dividend stocks that have a monthly payout in 2024.
Whitecap Resources stock
Valued at $6.2 billion by market cap, Whitecap Resources (TSX:WCP) pays shareholders an annual dividend of $0.73 per share, translating to a forward yield of 7%. Whitecap is an oil and gas company and is part of a cyclical sector. However, despite an uncertain and challenging macro environment, it recently raised dividends by 24% year over year. Additionally, its dividends have more than…
