Monthly dividend stocks are highly appealing to self-directed investors because they make it significantly easier to budget dividend income against living expenses. Unfortunately, there are very few stocks that pay monthly dividends. We’ve compiled a list of all 40 monthly dividend stocks for your use, which you can access below.

Superior Plus is one such company whose management team has decided to distribute profits on a monthly basis. And, the company has an exceptionally high dividend yield. At the time of this writing, Superior Plus yields 5.7% – nearly three times the average dividend yield in the S&P 500.

This makes Superior Plus one of the few securities with yields above 5%. You can see the full list of all high dividend stocks with 5%+ yields here. Superior Plus’ high dividend yield and monthly dividend payments are two reasons why investors might take interest in this stock. This article will analyze Superior Plus’ investment prospects in detail to determine whether the company merits consideration for the portfolios of dividend growth investors.

Business Overview

Superior Plus (SPB) is an energy company headquartered in Toronto, Canada. The company has a market capitalization of C$1.8 billion and operates in two main segments:

Details about each of Superior Plus’ operating segments can be seen below.

Source: Superior Plus 2017 Investor Day Presentation, slide 3

Superior Plus’ Energy Distribution segment is involved in the distribution and retail marketing of propane products, liquid fuels (including heating oil and propane gas), and wholesale liquids marketing services. This segment operates primarily in Canada but has been expanding into the United States through a series of acquisitions that began in 2009. Much of the operations of Superior Plus’ Energy Distribution segment is done under the trade names ‘Superior Propane’ or ‘Superior Gas Liquids’.

Superior Plus’ Specialty Chemicals segment is focused on the production and supply of sodium chlorate and chlor-alkali products. The segment does business under the trade name “ERCO Worldwide” and operates eight production facilities in North American and one in Chile. ERCO Worldwide is the second largest producer of sodium chlorate in the world and serves customer segments such as pulp and paper, food, energy, and agriculture.

It should be noted that Superior Plus is an international stock – the company trades on the Toronto Stock Exchange under the ticker SPB and reports financials in Canadian dollars. Accordingly, United States investors who are looking exclusively for domestic equity exposure should exclude this security from their investment universe.