iShares Canadian Financial Monthly Income E.T.F. (FIE.A.TO)

A balanced portfolio focused on fixed income and equities across the balance sheets of the financial services companies, the banks, looking at their equities, their preferred shares, their bonds, etc. The key issue is to pick a monthly income off it. Not looking to increase distributions.

Pays about 4% dividend. You get the benefit of a group of stocks that has typically increased their dividends on a fairly regular basis.