If you have some idle cash, then don’t wait for a perfect time, and invest in these three TSX stocks to supplement your monthly income. These TSX stocks are known for paying monthly dividends uninterrupted.
Pembina Pipeline
The unprecedented decline in crude oil prices following the COVID-19 outbreak took a toll on shares of Pembina Pipeline (TSX:PPL)(NYSE:PBA). However, the decline in Pembina’s stock price drove its yields higher, which is pretty safe.
Pembina stock currently offers a monthly dividend of $0.21, which translates into a forward dividend yield of 7.2%. Despite the decline in oil prices, investors should note that Pembina’s dividends are pretty safe. Pembina’s business diversified with highly contracted assets.
Further, Pembina’s dividends aren’t dependent on its businesses that have direct commodity exposure. Instead, its dividends are paid through fee-based cash flows. Pembina’s acquisitions have added resilient cash flow streams and help the company to cover its payouts easily.
Over the last five years, Pembina has paid $4.5 billion in dividends. Meanwhile, its dividends have grown by 6.5% annually during the same period.
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