Diversified Royalty is a TSX dividend stock that pays shareholders a tasty yield of more than 8%. The post This 8.6% Dividend Stock Pays Cash Every Month appeared first on The Motley Fool Canada.

Most companies typically pay dividends every quarter, but a few exceptional stocks offer monthly payouts. These monthly dividend stocks provide a consistent stream of cash, which can be especially useful for boosting your income and meeting expenses.

These five dividend stocks have among the largest payouts, perfect for passive income generation, and offer the best current entry points.

This Dividend King pays a monthly dividend of $0.154 per share, which equates to a generous yield of 6.8%.

This is the most popular ETF dedicated to the sector and has really been on a tear lately; VNQ is up 18% since June 1, roughly tripling the S&P 500 returns in the same period, with some smaller real estate investment trusts,