If you’re chasing dependable monthly income from dividends, there’s a Canadian stock paying near 7.6% annually and distributing cash every single month — ideal for income-focused investors looking to supplement passive cash flow.

The company is Cardinal Energy (TSX: CJ), an oil and gas producer based in Calgary with a low-decline production profile. That means its wells maintain output longer with less reinvestment required, helping preserve free cash flow — a key factor in sustaining generous monthly distributions. This setup makes it easier for the business to afford a high yield over time without constantly diluting shareholders or cutting payouts.

Cardinal’s energy portfolio includes a mix of light, medium and heavy oil, natural gas liquids and conventional natural gas, giving it some diversification within the sector and reducing reliance on a single commodity. It has also controlled operating and development costs, which strengthens its cash flow even when prices fluctuate.

The stock’s monthly dividend — paid 12 times a year — delivers cash regularly, which is especially useful if you prioritize steady income over price volatility. Receiving monthly payments can make budgeting easier and allow for smoother reinvestment, especially when using tools like dividend reinvestment plans (DRIPs) that compound returns without timing the market.

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One major potential growth driver for Cardinal is its Reford SAGD (steam-assisted gravity drainage) project in Saskatchewan, which began ramping up toward production. If it delivers as expected, this new project could add significant cash flow in 2026, strengthening the company’s ability to support and even grow its monthly dividend stream.

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Of course, high yields aren’t without risk. Commodity producers like Cardinal are sensitive to oil and gas price swings, and cash flow can be pressured when commodity prices are weak. But for investors who are comfortable with energy sector exposure and want monthly income with a high yield, a stock like Cardinal Energy offers a combination of cash flow, monthly payouts and yield that’s difficult to find in quarterly dividend payers.