Monthly Income: Top Dividend Stocks to Buy in December

Although the Canadian stock market has witnessed strong gains in the last three years, it’s still important to look at investments that give something back regularly. And monthly dividend stocks can help you achieve that goal. For many investors, especially those focused on retirement or passive income, the ability to count on payouts each month offers not just financial stability, but peace of mind. With the right companies, you can also enjoy solid capital appreciation on top of the income.

In this article, I’ll highlight two fundamentally sound monthly dividend stocks that are not only rewarding shareholders with attractive income today but also setting themselves up for more value in the years ahead.

Whitecap Resources stock

Let’s begin with Whitecap Resources (TSX:WCP), a quality TSX-listed stock that’s continuing to hit production highs and reward shareholders monthly. This Calgary-based energy company primarily focuses on oil and natural gas production.

After rallying by 37% over the last six months, WCP stock currently trades at $11.84 per share, with a market cap of about $14.3 billion. The stock also has an impressive annualized dividend yield of 6.1%, paid out monthly.

Much of that recent strength in Whitecap’s shares could be linked to its improving performance following the successful integration of Veren. The company delivered third-quarter production of 374,623 barrels of oil equivalent per day (boe/d), which exceeded its internal forecasts. This operational success helped the company generate $897 million in funds flow and $350 million in free funds flow, despite investing over $546 million in capital projects during the quarter.

Whitecap’s focus on improving drilling efficiency, lowering costs, and ramping up infrastructure utilization continues to pay off. Looking ahead, the company has increased its 2025 average production guidance to 305,000 boe/d and is planning a capital budget of $2 to $2.1 billion for 2026.

With $1.6 billion in liquidity and a clear focus on efficiency, Whitecap remains one of the top monthly dividend stocks on the TSX today.

Chartwell Retirement Residences stock

Now, let’s move to a real estate investment trust (REIT), Chartwell Retirement Residences (TSX:CSH.UN), that has been quietly building scale across Canada while rewarding investors with dependable monthly income. As a major player in Canada’s senior housing sector, the trust has operations across four provinces.

Following a 25% rally over the past year, Chartwell stock now trades at $20.01 per share and has a market cap of $6.08 billion. Even after this strong rally, it still offers a decent annualized dividend yield of 3.1%, paid monthly.

In the third quarter of 2025, the company’s same-property occupancy reached 93.1%, up 470 basis points YoY. That helped lift its adjusted net operating income by 15.8% and pushed its funds from operations up by 30.8% compared to a year ago.

Meanwhile, Chartwell is also making moves to strengthen its portfolio. Since the start of the year, the company has completed over $1 billion in acquisitions and committed another $700 million to future deals. Looking forward, its 2028 strategy includes growing occupancy above 95%, maintaining rate increases above 4%, and investing $2 billion into new properties while selling off $1 billion in non-core assets.

With consistently growing demand for modern senior residences in Canada, Chartwell has the potential to continue delivering reliable monthly income for years to come, with long-term upside.

The post Monthly Income: Top Dividend Stocks to Buy in December appeared first on The Motley Fool Canada.

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More reading

• Invest $15,000 in This Dividend Stock: Create $78 in Passive Income
• 3 Blue-Chip Dividend Stocks Every Canadian Should Own
• 3 High-Yield Dividend Stocks That Are Screaming Buys Right Now
• 3 Monthly-Paying Dividend Stocks to Boost Your Passive Income
• The Best Stocks to Invest $1,000 in Right Now

Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool recommends Whitecap Resources. The Motley Fool has a disclosure policy.