Published on March 12th, 2026 by Bob Ciura
Monthly dividend stocks have instant appeal for many income investors. Stocks that pay their dividends each month offer more frequent payouts than traditional quarterly or semi-annual dividend payers.
For this reason, we created a full list of over 100 monthly dividend stocks.
You can download our full Excel spreadsheet of all monthly dividend stocks (along with metrics that matter like dividend yields and payout ratios) by clicking on the link below:
Bird Construction (BIRDF) is a monthly dividend stock with a high yield.
This potentially makes the stock more attractive for income investors looking for more frequent dividend payouts.
This article will analyze Bird Construction in greater detail.
Business Overview
Bird Construction is a leading Canadian construction and maintenance company with operations across the country, providing services in industrial, infrastructure, buildings, and institutional markets.
The company offers a full range of delivery models including general contracting, construction management, and design-build, with strong self-perform capabilities in areas like electrical, mechanical, and specialty trades.
Its activities span sectors such as energy, utilities, transportation, healthcare, education, and mining, with a focus on rather complex, large-scale projects and long-term maintenance and service work.
Bird Construction generates over $2.3 billion in annual revenues and is based in Mississauga, Canada.
On November 12th, 2025, Bird Construction reported its Q3 results for the period ending September 30th, 2025. The company generated construction revenue of $683.8 million, representing a 5.8% year-over-year increase, driven primarily by organic growth in Infrastructure and Buildings.
Growth was also fueled by a full quarter contribution from the Jacob Bros acquisition, partially offset by delays in the start of certain industrial projects.
Net income was $22.8 million, or $0.41 per share, representing a 12.4% year-over-year decline, while adjusted earnings were $25.4 million, or $0.46 per share, down 10.0% year over year due to lower operating margins and higher overhead, despite higher revenue.
During the quarter, Bird secured over $1.0 billion of new contracted work, bringing total backlog to $3.6 billion, up 34.6% from year-end 2024, while pending backlog also reached $3.6 billion, providing strong multi-year revenue visibility despite near-term project timing delays driven by economic uncertainty.
Growth Prospects
Bird Construction’s EPS has been quite volatile over the past decade, but has grown notably in recent years. Bird’s EPS rose as results benefited from higher construction revenue and the absence of non-cash impairments on O’Connell goodwill and intangibles.
EPS then compressed in 2017 as construction revenue and gross profit fell and performance was pressured by higher G&A. The negative EPS in 2018 was due to a loss was driven by project delays including a labor strike at a major mining client, later-than-expected industrial ramp, and design-related execution issues that required provisions for higher costs.
The step-up into 2020 reflects a material margin reset as gross profit percentage improved to 8.4% from 5.2% on a richer mix of higher-margin industrial work, inclusion of Stuart Olson’s results, and $21.2 million of CEWS recoveries, while 2019 had been weighed by a PPP project with incremental design-related scope growth and acceleration costs.
From 2022 through 2024, EPS expansion was driven by higher revenues and gross profit dollars with improving margin profiles on newer work, expanded self-perform and disciplined project selection, plus acquisition contributions including Trinity in 2023 and NorCan and Jacob Bros in 2024.
That year also showed margin improvement with gross profit percentage at 9.7% and organic plus acquired revenue growth.
Moving forward, we believe Bird can grow its EPS at a CAGR of 7%, driven by margin expansion from improved project mix and self-perform work, operating leverage from scale, and contributions from recent acquisitions, partially offset by normal construction cyclicality. We believe Bird can grow its dividend at a similar rate.
Dividend & Valuation Analysis
Bird benefits from a diversified end-market exposure across industrial, infrastructure, and institutional construction, a growing mix of self-performed work, and a more disciplined approach to project selection.
Together, they have improved margin stability and reduced the risk of large execution-driven losses compared with its past.
The company’s scale, national footprint, and ability to deliver complex projects across multiple delivery models support consistent access to work and repeat customers, while its vertical integration in trades such as electrical and mechanical improves control over cost, schedule, and quality.
That said, construction remains inherently cyclical and project-based, and history shows that profitability can be pressured during downturns or periods of execution missteps.
In a recession, exposure to infrastructure, maintenance, and institutional work should provide some demand stability, but earnings would still likely.
The dividend was cut back in late 2016, reminded investors of the cyclical nature of the business, although it has since grown.
BIRDF trades for a P/E ratio of 17.9, above our fair value estimate of 14. Therefore, a declining P/E could reduce annual returns by 4.8% per year over the next five years.
Combined with expected EPS growth of 7% per year and the 2.6% dividend yield, total returns are estimated at 4.6% per year over the next five years.
Final Thoughts
Overall, Bird is a better-run and more consistently profitable contractor than in the past, with improving margins and execution discipline, but it should still be viewed as a cyclical, project-driven business whose earnings and dividend can be pressured in downturns despite its backlog.
We forecast annualized returns of 4.6% through 2030, to be driven by our growth estimates and the dividend yield, offset by the possibility of a valuation headwind. We rate the stock a hold.
Additional Reading
Don’t miss the resources below for more monthly dividend stock investing research.
And see the resources below for more compelling investment ideas for dividend growth stocks and/or high-yield investment securities.
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