3 Stocks That Cut You a Check Each Month

Dividend stocks can be a great source of passive income. While most dividend payers cut checks quarterly, a few issue them every month.

That increased payment frequency makes them ideal options for those seeking a recurring income stream to offset their expenses. Three that currently offer recurring monthly payments are Canadian pipeline operator Pembina Pipeline (NYSE: PBA), industrial REIT STAG Industrial (NYSE: STAG), and farmland REIT Gladstone Land (NASDAQ: LAND). Here's a closer look at these monthly dividend stocks.

Pembina Pipeline pays its investors on the 15th of each month. The most recent payment was $0.1599 per share based on the current exchange rate. With shares of the Canadian pipeline operator trading right around $26.50 a piece these days, this rate implies a nearly 7.2% dividend yield. That's well above the market's average of less than 2%.

Source Fool.com