3 TSX Monthly Dividend Stars Yielding Over 5%

There are quite a few monthly dividend payors on the TSX today. In this article, I’ll discuss three of them that yield over 5%. These monthly dividend stocks can be a source of regular, predictable income to supplement your employment income or your retirement. Payments can be used to help support your lifestyle or they can be reinvested, providing a compounding of returns that really adds up in time.

Without further ado, here are the monthly dividend stocks to consider.

Freehold Royalties: A TSX energy stock yielding 6.72%

Although oil prices can be extremely volatile and unpredictable, there are some oil and gas companies that are somewhat sheltered from this hard reality. Like Freehold Royalties (TSX:FRU). Freehold simply collects royalties from its properties and does not do its own drilling or exploration.

The company owns a portfolio of mineral titles and royalties on a diversified set of oil and gas properties across North America. Its properties have high netbacks, strong production profiles, and they’re set to benefit from the rapidly expanding liquified natural gas, or LNG, industry.

Freehold Royalties is currently yielding 6.72%. In its latest quarter, its earnings per share (EPS) came in at $0.21, which was 23.5% higher than the same period last year. Also, its operating cash flow came in at $180 million, an increase of 10%. This TSX monthly dividend stock has a healthy payout ratio as well as balance sheet, which should see further improvements with the recent uptick in natural gas prices.

Mullen Group: A 5% yield and record results

The next attractive high-yield monthly dividend stock I’d like to discuss is Mullen Group (TSX:MTL). Mullen is currently yielding 5.01%, and the shares are highly undervalued, in my view.

In the last many years, Mullen has made progress in diversifying its business away from the highly cyclical energy services business. Today, it is diversified investment company that focuses on the logistics business, with one of the largest logistics portfolios of companies in North America. It provides a wide range of transportation, warehousing, and distribution services.

Of note, Mullen’s most recent quarter was one that broke records — record revenue of $562 million increased 5.6%, and its cash from operations increased 55% to $102 million. The results were driven by acquisitions and these acquisitions are setting the company up to be bigger and better in the years ahead. In the last five years, Mullen’s revenue has grown 71% to $2 billion in 2024.

This TSX stock is a rising monthly dividend star.

Boston Pizza: A 6.16% yield for this monthly dividend payor

Finally, Boston Pizza Royalties Income Fund (TSX:BPF.UN) is a top casual dining brand in Canada. It has a vast network of local franchisee owners that continue to elevate the brand and its financial strength. This financial strength is evident in the fund’s December 2025 special dividend payment of $0.11 per share. This payment was over and above its regular monthly dividend. And it was made possible because of Boston Pizza’s strong financial performance.

For the first nine months of 2025, total revenue increased 4.9% to $39 million, and earnings EPS increased 23% to $1.46. Also, distributable cash increased 3.8% to $23.7 million. Finally, Boston Pizza has been paying dividends for more than 20 years. This dining staple continues to be a stable and reliable TSX monthly dividend stock.

The bottom line

The three TSX monthly dividend stocks that I covered in this article all have a few things going for them — a strong management team, solid businesses with momentum, and high yields. Consider adding them to your portfolio for consistent and reliable monthly income.

The post 3 TSX Monthly Dividend Stars Yielding Over 5% appeared first on The Motley Fool Canada.

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More reading

• This 7% Dividend Stock Pays Out Every Month Like Clockwork
• The Perfect TFSA Stocks for Generous Monthly Payouts
• 3 Canadian Stocks That Paid Record Dividends in 2025
• 3 Reasons I’m Never Selling This Dividend Stock
• 3 High-Yield Dividend Stocks Perfect for TFSA Contributions in 2026

Fool contributor Karen Thomas has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Mullen Group. The Motley Fool recommends Freehold Royalties. The Motley Fool has a disclosure policy.