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Summary
- Pembina’ declared cash dividend of C$ 0.21 per share for November. The stock holds a current dividend yield of 8.187 per cent.
- Pembina’s 10-day average trading volume is 2.37 million units, making it among the most active stocks across the TSX and the TSXV.
- Keyera announced cash dividend of C$ 0.16 per common share in November. This mid-cap stock has a current dividend yield of 9.139 per cent.
- Keyera stocks have rebounded by over 100 per cent since the pandemic-led market crash in March.
Most of Toronto Stock Exchange (TSX)-listed dividend-paying companies distribute earnings to their shareholders quarterly or semi-annually or annually. But there are a handful companies that pay monthly dividends. The monthly-dividend providing companies are often related to exchange-traded funds (ETFs) or residential real estate sectors. In this article, we look at stocks that pays monthly dividends: Pembina Pipeline Corp (TSX:PPL) and Keyera Corp. (TSX:KEY). Both these stocks are from the energy sector.
Pembina Pipeline Corp (TSX:PPL)
Dividend Yield: 8+ %
The company distributed cash dividend of C$ 0.21 per share for November, which is payable on December 15, 2020. The stock’s ex-dividend date is November 24. This pipeline stock holds a current dividend yield of 8.187 per cent.
As per details on the TMX website, Pembina’s three-year dividend growth is 6.54 per cent, and its five-year dividend growth is 6.77 per cent. The company will pay its shareholders a cash dividend of US$0.1584 per share for the month of October.
Pembina Pipeline operates a regional pipeline network that expands across 9000 kilometers. Its network comprises heavy oil, hydrocarbon, and oil sands pipelines.
Pembina Pipeline Corp Stock Performance
Pembina Pipeline’s stock has recovered over 85.86 per cent since the pandemic-led meltdown on March 19. Its year-to-date (YTD) stock performance is down by almost 36 per cent. This dividend payer is nearly 1.9 per cent down in the last six months.
The pipeline stock has been ranked among TMX Money’s top dividend-paying companies, which lists high dividend yield stocks across the TSX and the TSX Venture (TSXV).
Pembina’s 10-day average trading volume is 2.37 million units, placing it among the most active stocks in the last 10 days on the TSX and the TSXV.
Its current market capitalization stands at C$ 16.927 billion. The large-cap stock’s price-to-earnings (P/E) ratio is 17.67. The stock delivers a positive return on equity (RoE) of 6.47 per cent and a positive return on assets of 2.72 per cent. Its profit-to-book (P/B ratio) is 1.23, and its current earnings per share (EPS) is 1.61, according to TMX data.
Pembina Pipeline reported an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of 796 in the third quarter of 2020, an eight per cent surge from the third quarter of 2019.
During past financial cycles, the company has maintained and increased its monthly cash dividend.
Keyera Corp. (TSX:KEY)
Dividend Yield: 9+%
Keyera’s Board of Directors approved cash dividend of C$ 0.16 per common share for November (payable on December 15, 2020). The stock’s ex-dividend date is November 20. The stock holds a current dividend yield of 9.139 per cent.
As per details on the TMX Money portal, Pembina’s three-year dividend growth is 5 per cent, and its five-year dividend growth is 6.30 per cent.
Alberta-based Keyera Corp is a midstream energy company, managing 5000 kilometer-long network of pipelines to transport crude oil and natural gas by-products.
Keyera’s Stock Performance
Keyera’s stock has regained over 100 per cent since the pandemic-led crash on March 19. This monthly dividend payer is 3.44 per cent up in the last six months.
Keyera’s stock has also been placed among TMX Money’s top dividend-paying stocklist. Its 10-day average trading volume is 1.46 million units.
Its current market capitalization stands at C$ 4.643 billion. The midcap stock’s price-to-earnings (P/E) ratio is 26.20. The stock offers a positive return on equity (RoE) of 5.37 per cent and a positive return on assets of 2.11 per cent. Its profit-to-book (P/B ratio) is 1.568, and its current earnings per share (EPS) is 1.075. Keyera’s current debt-to-equity ratio is 1.11, as per the TMX Money website.
The company registered an adjusted EBITDA of C$ 705 million for the first nine months of 2020 compared to C$ 683 million for the first nine months in 2019.
Keyera reported a healthy balance sheet and a pay-out ratio of 54 per cent year to date. Keyera is expecting to continue to invest in its growth capital projects without offering common equity. The midcap energy company also has plans to maintain its current monthly cash dividend of C$ 0.16 per common share or C$ 1.92 per common share annually.
