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Is your active or regular income sometimes insufficient to cover necessary expenses and others? Fortunately, there’s a way to boost monthly income and avoid financial dislocation or living from paycheck to paycheck. Consider dividend investing if you have idle or free cash to spare.
The Toronto Stock Exchange (TSX) has plenty of dividend-paying stocks that deliver income streams if you need them. Freehold Royalties (TSX:FRU) and Atrium Mortgage Investment Corporation (TSX:AI) are sound choices today and even pay monthly dividends.
With an average dividend yield of 8.08%, a combined investment of $10,000 ($5,000 each) will generate $67.33 in monthly passive income. The amount should keep growing as you increase your positions over time.
Lower-risk returns
Freehold Royalties is a dividend heavyweight in the energy sector, but it is not an oil producer. The $2.18 billion company provides investors with…
