Dividend stocks can be valuable if you’re retired or just want to increase your income. However, many dividend stocks do not pay dividends every month. In most cases, you’re waiting up to three months for your next dividend payment.
But you can still generate monthly dividend income without focusing exclusively on stocks that pay monthly. The solution is to invest in three different dividend stocks that pay at different times of the year. By adding all of these to your portfolio, you can generate recurring cash flow every month.
AbbVie (ABBV 0.78%), Medtronic (mdt 0.56%)And Enbridge (ENB +1.08%) All are high-yield stocks, and because they pay at different times of the year, collectively, they can generate plenty of dividend income for your portfolio every month.
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AbbVie
AbbVie is a top pharmaceutical company With a market cap of approximately $370 billion. The business has been able to grow its operations despite facing headwinds, despite losing patent protection for its best-selling drug Humira. With new drugs Skyrizi and Rinvoq performing exceptionally well, the company has been able to move forward, and with a diverse mix of products in its portfolio its future looks better than ever.
Last year, the company generated more than $61 billion in revenue, about one-third of its operating income, which totaled $20 billion. With a strong financial position, the company has been able to pay and increase its dividend regularly.
today’s change
(-0.78%) $-1.61
current price
$206.54
key data points
market cap
$368B
day limit
$206.18 -$209.51
52wk range
$176.57 -$244.81
volume
1.2 meters
average volume
7m
gross margin
83.17%
dividend yield
3.24%
Currently, the stock yields 3.3%, which is almost three times S&P 500 Average 1.1%. This is a great payout, which seems safe given AbbVie’s strong financial position. Last year, the company generated $17.8 billion of free cash flow, more than the $11.7 billion it paid out in cash dividends. The company typically pays dividends every February, May, August and November.
Medtronic
one more Top Dividend Stocks One to consider for your portfolio is Medtronic. The medical device company consistently generates high earnings, making it an ideal choice for investors who primarily want to collect dividends.
today’s change
(-0.56%) $-0.44
current price
$77.86
key data points
market cap
$101B
day limit
$77.44 -$78.58
52wk range
$77.44 -$106.33
volume
140K
average volume
8.7M
gross margin
59.59%
dividend yield
3.63%
The company’s vast portfolio of products makes it a fairly stable investment given its important role in the healthcare sector. In its most recent quarterly results, covering the three-month period ending Jan. 23, the company’s revenue rose 9% and came in better than its guidance. Medtronic generated a total of $5.4 billion of free cash flow over the last 12 months, easily surpassing the $3.6 billion it pays out as dividends on an annual basis.
The stock yields about 3.6%, making it another great high-yield investment. Medtronic pays dividends every January, April, July and October.
Enbridge
Last but certainly not least is Enbridge, a pipeline giant oil and gas industry. It’s one of the more stable stocks you can buy from in the region, as its pipelines are vital to the industry, transporting oil and gas across North America.
You might overlook the Canadian-based company as a top dividend investment because its payout ratio is over 100%, but non-cash expenses actually make its financial position worse. The company relies on distributable cash flow (DCF) when evaluating its dividend, which is an adjusted calculation that more accurately reflects its financial strength. The company’s DCF for 2025 rises 4% to Canadian dollars 12.5 billion, which is strong enough to both support and raise the dividend.
today’s change
(1.08%) $0.59
current price
$55.31
key data points
market cap
$119B
day limit
$54.62 -$55.32
52wk range
$43.59 -$55.49
volume
47K
average volume
5m
gross margin
32.74%
dividend yield
5.00%
Enbridge has increased its dividend for 31 consecutive years, with its most recent increase being a 3% payout increase. At 5.2%, it’s the highest-yielding stock on this list, and Enbridge’s yield has actually been even higher in the past. However, as higher prices have driven oil and gas stocks higher and Enbridge is up about 18% over the past 12 months, its yield has declined.
Enbridge pays dividends every March, June, September, and December. This means that if you invest in it along with other stocks on this list, you can count on collecting high dividends every month of the year.