Little-Known High Dividend Stock Yields 8%, Pays Monthly

Looking for monthly income? That's one of the many challenges in setting up a retirement income portfolio - many high dividend stocks tend to pay their dividends in February, May, August and November, and not so much in the other months. So, we went looking off the beaten track for monthly dividend-paying stocks, and we found another OTC-listed company which also trades on the Toronto exchange. This stock yields over 8%, and you've probably never heard of it. It has paid monthly dividends every month since its IPO in 2004. It has outperformed the market over the past month, quarter and year to date.

SIR Royalty Income Fund (OTC:SIRZF) is a publicly traded trust based in Ontario, Canada. The fund is listed on the Toronto Stock Exchange under the symbol SRV.UN (SRV.UN.TO on Yahoo), and in the US on the OTC market. It pays monthly distributions based upon: 1. A 6% royalty income stream from a pool of restaurants and 2. Interest from its loan to SIR Corp.

Source: Seeking Alpha

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