Small-cap stockSienna Senior Living (TSX: $SIA) pays its shareholders a hefty monthly dividend.
A Canadian company that trades on the Toronto Stock Exchange (TSE), Sienna Senior Living operates more than 70 retirement homes.
The business is growing at a brisk clip as the Baby Boom generation ages, and its stock has been responding positively.
SIA stock has risen 39% over the past 12 months, including an 11% gain this year. In addition to the share price appreciation, Sienna Senior Living provides monthly income to its shareholders.
Unlike most companies that pay a dividend each quarter, Sienna Senior Living pays a distribution to its shareholders on a monthly basis.
The dividend is currently set at C$0.08 per month, giving the stock a strong yield of 4.16%.
A market capitalization of C$2.31 billion places Sienna Senior Living firmly in the small-cap stock category.
Owing to the big move higher in the share price, SIA sock trades at a premium of 46 times this year's earnings estimates.
The stock has become increasingly popular, and expensive, in a volatile market where investors are looking for safety and income generation.
But the expense of SIA stock might be worth it given that it provides shareholders with both price appreciation and a reliable monthly income.
