Best Monthly Dividend Stocks this March 2026 in Canada

Allied Properties Real Estate Investment Trust (APYRF) primarily targets urban workspace properties in major Canadian cities like Toronto and Vancouver. Despite a disappointing one-year return of -44.94% and a five-year return of -77.32%, the REIT offers a substantial dividend yield of 16.09%, making it an intriguing option for income-focused investors. Analysts maintain a positive outlook, with consistent "Outperform" ratings from firms like Scotiabank and Raymond James.

Seven Wall Street analysts project an average price target of C$11.09 for Allied Properties Real Estate Investment Trust, with a high of C$13.98 and a low of C$9.49, indicating a potential 16.66% increase from the current price of C$9.51.

CT Real Estate Investment Trust (CTRRF) stands out with a robust dividend yield of 5.48% and a strong 1-year return of 15.02%. This top-rated Canadian REIT provides monthly dividend payments, making it an attractive choice for income-focused investors seeking reliable returns from financially healthy properties. With a consensus analyst rating of A, CTRRF is well-positioned for continued growth in the coming year.

FRT has a consensus rating of Hold from 13 analysts, with 8% recommending Strong Buy, 38% Buy, and 54% Hold.

The average twelve-month stock price forecast for CT Real Estate Investment Trust is C$17.03, with a high of C$18.00 and a low of C$16.50 according to 6 analysts.

Choice Properties REIT (PPRQF) is an attractive option for Canadian investors seeking reliable monthly dividend income, boasting a solid dividend yield of 4.86%. With a commendable one-year return of 21.50% and a five-year return of 10.15%, this REIT is recognized for its financial stability and consistent payouts. Analysts have rated it a B+, indicating a positive outlook for those looking to add dividend-focused investments to their portfolios.

Birchcliff Energy has a consensus rating of Buy, with an average score of 3.14 based on 2 strong buy ratings, 4 buy ratings, and 1 hold rating.

Brookfield Asset Management is a strong dividend stock, with expected annual dividend growth of 15% or more from 2026 to 2030 and a current yield of 3.5%.

Mullen Group (MTL) stands out as a top-tier logistics and transportation provider catering to Canada’s energy and general freight sectors, currently offering a dividend yield of approximately 4.87%. With a solid 1-year return of 32.26% and a 5-year return of 66.22%, MTL is well-positioned for growth, particularly as the market anticipates a 6.3% CAGR from 2026 to 2033. Analysts maintain a neutral stance on the stock, suggesting potential for price appreciation in the coming year, which aligns with its reputation for delivering consistent monthly dividends.

The MTL market is projected to grow significantly, with an expected CAGR of 6.3% from 2026 to 2033.

Analysts predict MTL's stock price will rise over the next 12 months, with an average target of 18.462 CAD, ranging from a low of 15.15 CAD to a high of 22.05 CAD.

Mullen Automotive (MSLE) has an AI Score of 2/10, indicating a 'Sell' recommendation, with a -7.18% probability of outperforming the S&P 500 in the next three months.

Chartwell Retirement Residences stands out as a solid choice for income-focused investors, offering a reliable dividend yield of 2.75%. With a commendable 1-year return of 26.59% and a remarkable 5-year return of 94.92%, this Canadian retirement residence operator has earned a favorable "Buy" rating from TD Securities. While short-term signals may suggest caution, long-term trends indicate potential for growth, making it an intriguing option for those seeking consistent payouts from a financially healthy company.

Chartwell Retirement Residences stock has a mixed signal; it shows a sell signal from the short-term Moving Average but a buy signal from the long-term average, indicating a generally positive outlook.

Chartwell pays a dividend yield of 2.80%, which is above the average yield of 2.01% for the bottom 25% of dividend payers in the Canadian market.

The current price of Chartwell Retirement Residences stock is $21.88.

Whitecap Resources (WCP) stands out as a compelling investment opportunity for those seeking exposure to oil-weighted energy producers. With a focus on low-decline assets and innovative carbon capture initiatives, the company offers a dividend yield of 5.36% along with impressive returns of 45.09% over the past year and 122.26% over five years. Its strong analyst rating of A- further underscores its potential for delivering consistent payouts and healthy free cash flow.

The 7% rule advises investors to sell a stock if its price falls 7% below the purchase price to manage risk.

W.P. Carey has an average brokerage recommendation of 2.80, indicating a neutral stance between Buy and Sell from 15 brokerage firms.

Whitecap has a strong track record of growth and maintains a sustainable dividend, indicating long-term value for investors.

Canadian Apartment Properties REIT (CDPYF) offers investors a compelling option for reliable income, featuring a monthly dividend distribution with a yield of 4.04%. Despite facing challenges reflected in a 1-year return of -1.19% and a 5-year return of -33.37%, this REIT is recognized with a median 12-month price target of $54.00, indicating some analyst confidence in its potential turnaround.

Artis REIT shows negative signals, suggesting it may be a sell candidate; however, it could be considered a hold while awaiting potential improvements.

For long-term investment in a TFSA, consider goeasy (TSX:GSY) and Alimentation Couche-Tard (TSX:ATD) as top Canadian stocks.

Apartment REITs can provide diversification and steady income, but they are sensitive to interest rate changes and market fluctuations.