Top 20 Highest Yielding Monthly Dividend Stocks Now

Up to date on November seventh, 2023 by Bob Ciura

Month-to-month dividend shares have instantaneous enchantment for a lot of revenue buyers. Shares that pay their dividends every month provide extra frequent payouts than conventional quarterly or semi-annual dividend payers.

Because of this, we created a full checklist of 80 month-to-month dividend shares.

You may obtain our full Excel spreadsheet of all month-to-month dividend shares (together with metrics that matter like dividend yield and payout ratio) by clicking on the hyperlink under:

As well as, shares which have excessive dividend yields are additionally engaging for revenue buyers.

With the typical S&P 500 yield hovering round 1.6%, buyers can generate way more revenue with high-yield shares. Screening for month-to-month dividend shares that even have excessive dividend yields makes for an interesting mixture.

This text will checklist the 20 highest-yielding month-to-month dividend shares.

Desk Of Contents

The next 20 month-to-month dividend shares have excessive dividend yields above 5%. Shares are listed by their dividend yields, from lowest to highest.

The checklist excludes oil and gasoline royalty belief, which have excessive fluctuations of their dividend payouts from one quarter to the subsequent as a result of underlying volatility of commodity costs.

You may immediately leap to a person part of the article by using the hyperlinks under:

Excessive-Yield Month-to-month Dividend Inventory #20: PermRock Royalty Belief (PRT)

PermRock Royalty Belief is a belief shaped in late 2017 by Boaz Vitality, an organization that’s targeted on the acquisition, growth and operation of oil and pure gasoline properties within the Permian Basin. The Belief advantages from the distinctive traits of the Permian Basin, which is essentially the most prolific oil producing space within the U.S. The properties of PermRock encompass long-life reserves in mature, standard oil fields, with shallow, predictable decline charges.

PermRock expects to drill new producing wells within the Permian Shelf space. It should additionally attempt to develop its manufacturing at current wells and reactivate wells which had been inactivated as a result of hunch of commodity costs in the course of the pandemic. However, it is very important notice that the manufacturing of PermRock has declined in every of the final three years.

Click on right here to obtain our most up-to-date Certain Evaluation report on PermRock Royalty Belief (PRT) (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #19: Sabine Royalty Belief (SBR)

Sabine Royalty Belief is an oil and gasoline belief that was shaped in 1983 by Sabine Company. It consists of royalty and mineral pursuits in producing properties and proved oil and gasoline properties in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. It generates roughly two-thirds of its revenues from oil and one-third of its revenues from gasoline. The belief has static property, i.e., it can not add new properties to its asset portfolio. Sabine Royalty Belief has no operations however is merely a pass-through automobile for royalties.

All of the oil and gasoline trusts face a robust secular headwind, specifically the pure decline of their producing wells. Resulting from this decline, their manufacturing is anticipated to lower in the long term. Sabine Royalty Belief has proved superior on this side. When it was arrange, 40 years in the past, it was anticipated to have a lifetime of 8-10 years. Nevertheless, it’s nonetheless producing significant volumes and is anticipated to stay in life for greater than a decade.

Click on right here to obtain our most up-to-date Certain Evaluation report on Sabine Royalty Belief (SBR) (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #18: Gladstone Capital (GLAD)

Gladstone Capital is a enterprise growth firm, or BDC, that primarily invests in small and medium companies. These investments are made by way of a wide range of fairness (10% of portfolio) and debt devices (90% of portfolio), usually with very excessive yields.

Mortgage dimension is often within the $7 million to $30 million vary and has phrases as much as seven years. The BDC’s acknowledged objective is to generate revenue it will possibly distribute to its shareholders.

Gladstone posted third quarter earnings on July twenty sixth, 2023, and outcomes had been forward of expectations on each the highest and backside traces. Internet funding revenue per share was 31 cents, which was 4 cents higher than anticipated. Complete funding revenue was $22.8 million, up 66% year-over-year, which was $1.15 million higher than estimates.

The rise in funding revenue was as a result of greater curiosity revenue, which was attributable to will increase within the weighted common yield and weighted common principal stability of the corporate’s interest-bearing investments.

Click on right here to obtain our most up-to-date Certain Evaluation report on GLAD (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #17: Horizon Know-how (HRZN)

Horizon Know-how Finance Corp. is a BDC that gives enterprise capital to small and medium–sized corporations within the know-how, life sciences, and healthcare–IT sectors.

The corporate has generated engaging danger–adjusted returns by means of immediately originated senior secured loans and extra capital appreciation by means of warrants, featuring a final–9–month annualized portfolio yield of 14.7%.

On August 1st, 2023, Horizon launched its Q2 outcomes for the interval ending June thirtieth, 2023. For the quarter, whole funding revenue grew 51.3% year-over-year to $28.1 million, primarily as a result of progress in curiosity revenue on investments ensuing from a rise within the common dimension of the debt funding portfolio and a rise within the base charge for many of the firm’s variable charge debt investments. The latter was pushed by rising rates of interest.

Internet funding revenue per share (IIS) rose to $0.54, roughly 54% greater in comparison with Q2-2022. Internet asset worth (NAV) per share landed at $11.07, 2.4% decrease sequentially or 5.3% decrease year-over-year.

Click on right here to obtain our most up-to-date Certain Evaluation report on HRZN (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #16: SLR Funding Corp. (SLRC)

SLRC is a Enterprise Improvement Firm that primarily invests in U.S. center market corporations. The corporate has 5 core enterprise items which embody money stream, asset-based, life science lending, gear finance, and company leasing.

The belief’s debt investments primarily consist of money stream senior secured loans, together with first lien and second lien debt devices. It additionally affords asset-based loans together with senior secured loans collateralized on a primary lien foundation by present property.

Click on right here to obtain our most up-to-date Certain Evaluation report on SLRC (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #15: Dream Workplace REIT (DRETF)

Dream Workplace REIT acquires and manages predominantly workplace and industrial properties in main city areas all through Canada, with a give attention to downtown Toronto. The belief’s portfolio is positioned primarily in Toronto, Montreal/Ottawa, Mississauga/North York, and Calgary, although it does have small publicity to different markets as properly.

Dream Workplace possession pursuits embody 5.5 million sq. ft of gross leasable space from 30 properties, which embody 28 workplace properties, and two properties underneath growth. Dream Workplace has leases with 500 tenants throughout Canada, just a few of its bigger tenants embody: Authorities of Canada, Authorities of Ontario and State Avenue Belief.

Supply: Investor Presentation

Dream Workplace Company launched its Q2 outcomes on August third, 2023. Within the quarter ended June 30, 2023, the diluted FFO per unit decreased by $0.03 to $0.35 in comparison with $0.38 in Q2 2022. This decline was influenced by a decrease share of FFO from the funding in Dream Industrial REIT as a result of unit gross sales, lowered internet rental revenue from offered properties, and better curiosity bills.

Comparative properties NOI elevated by 3.8%, pushed by greater in-place internet rents, lease step-ups, and higher charges on new leases and renewals.

Click on right here to obtain our most up-to-date Certain Evaluation report on DRETF (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #14: PennantPark Floating Fee (PFLT)

PennantPark Floating Fee Capital Ltd. is a BDC that makes secondary direct, debt, fairness, and mortgage investments.

The fund also goals to speculate by means of floating charge loans in non-public or thinly traded or small–cap, public center market corporations, fairness securities, most popular inventory, widespread inventory, warrants or choices obtained in reference to debt investments or by means of direct investments.

Supply: Investor Presentation

It usually invests in america and to a restricted extent non–U.S. corporations. It goals to put money into corporations not rated by nationwide score companies.

Click on right here to obtain our most up-to-date Certain Evaluation report on PFLT (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #13: Technology Earnings Properties (GIPR)

Technology Earnings Properties, Inc. is an internally managed REIT targeted on buying and managing income-producing retail, workplace, and industrial properties. As of December thirty first, 2022, the corporate’s asset base included 13 properties, comprising one industrial, seven retail (together with one medical-retail), and 5 workplace properties, that are internet leased to high-quality tenants in main markets all through america.

These properties, together with a 36.8% tenancy in widespread curiosity in a single tenant retail constructing (roughly 15,300 sq. ft) leased to La-Z-Boy Firm, characteristic 338,142 leasable sq. ft and an annualized base lease of $5.43 million.

Click on right here to obtain our most up-to-date Certain Evaluation report on GIPR (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #12: Cross Timbers Royalty Belief (CRT)

Cross Timbers Royalty Belief is an oil and gasoline belief (about 50/50), arrange in 1991 by XTO Vitality. Its unitholders have a 90% internet revenue curiosity in producing properties in Texas, Oklahoma, and New Mexico; and a 75% internet revenue curiosity in working curiosity properties in Texas and Oklahoma.

Cross Timbers Royalty Belief estimates that the speed of pure manufacturing decline of its oil and gasoline properties is 6%-8% per yr. It is a vital headwind for future returns.

Click on right here to obtain our most up-to-date Certain Evaluation report on Cross Timbers Royalty Belief (CRT) (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #11: Stellus Capital (SCM)

Stellus Capital Administration supplies capital options to corporations with $5 million to $50 million of EBITDA and does so with a wide range of devices, the vast majority of that are debt. Stellus supplies first lien, second lien, mezzanine, convertible debt, and fairness investments to a various group of consumers, usually at excessive yields, within the US and Canada.

Stellus posted second quarter earnings on August ninth, 2023, and outcomes had been fairly robust in opposition to estimates. Adjusted internet revenue per share was 51 cents, 4 cents higher than anticipated. Internet funding revenue was $10.4 million. Complete funding revenue, which is akin to income, was $26.6 million, which beat estimates by $1.1 million, and was up 65% year-over-year.

Click on right here to obtain our most up-to-date Certain Evaluation report on Stellus (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #10: Prospect Capital (PSEC)

Prospect Capital Company is a Enterprise Improvement Firm, or BDC, that gives non-public debt and personal fairness to center–market corporations within the U.S. The corporate focuses on direct lending to proprietor–operated corporations, in addition to sponsor–backed transactions.

Prospect invests primarily in first and second lien senior loans and mezzanine debt, with occasional fairness investments. 

Supply: Investor Presentation

Prospect Capital posted fourth quarter and full-year earnings on August twenty ninth, 2023, and outcomes had been considerably weaker than anticipated. Internet funding revenue was up from the prior quarter and the year-ago quarter, as originations greater than doubled.

Nevertheless, outcomes missed consensus estimates. Internet funding revenue for the quarter was $113 million, or 23 cents per share. That missed estimates by a penny, however was up from 21 cents.

Click on right here to obtain our most up-to-date Certain Evaluation report on PSEC (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #9: Oxford Sq. Capital (OXSQ)

Oxford Sq. Capital Corp. is a BDC specializing in financing early and center–stage companies by means of loans and CLOs.

The firm holds an equally break up portfolio of First–Lien, Second–Lien, and CLO fairness assets unfold throughout 8 industries, with the very best publicity in enterprise companies and healthcare, at 36% and 25%, respectively.

Supply: Investor Presentation

On August tenth, 2023, Oxford Sq. reported its Q2 outcomes for the interval ending June thirtieth, 2023. For the interval, the corporate generated roughly $13.5 million of whole funding revenue, up 4.7% from the earlier quarter. The rise in whole funding revenue was as a result of rising rates of interest. Particularly, the weighted common yield of the debt investments got here in at 12.8% at present price, in comparison with 12.4% throughout Q1-2023.

This improve was additional bundled with a better money distribution yield from OXSQ’s CLO fairness investments, which grew from 15.3% to 18.4% sequentially.

Click on right here to obtain our most up-to-date Certain Evaluation report on OXSQ (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #8: Ellington Monetary (EFC)

Ellington Monetary Inc. acquires and manages mortgage, shopper, company, and different associated monetary property within the United States. The corporate acquires and manages residential mortgage–backed securities (RMBS) backed by prime jumbo, Alt–A, manufactured housing, and subprime residential mortgage loans.

Moreover, it manages RMBS, for which the U.S. authorities ensures the principal and curiosity funds. It additionally supplies collateralized mortgage obligations, mortgage–associated and non–mortgage–associated derivatives, fairness investments in mortgage originators and different strategic investments.

Supply: Investor Presentation

On August seventh, 2023, Ellington Monetary reported its Q2 outcomes for the interval ending June thirtieth, 2023. As a result of firm’s enterprise mannequin, Ellington doesn’t report any revenues. As a substitute, it information solely revenue. For the quarter, gross curiosity revenue got here in at $88.1 million, up 1% quarter-over-quarter. Adjusted (beforehand known as “core”) EPS got here in at $0.38, seven cents decrease versus Q1-2023.

The decline was primarily as a result of greater skilled charges. Ellington’s e book worth per share fell from $15.10 to $14.70 over the past three months, with its dividends exceeding the underlying revenue. The month-to-month dividend stays at $0.15.

Click on right here to obtain our most up-to-date Certain Evaluation report on Ellington Monetary Inc (EFC) (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #7: Dynex Capital (DX)

Dynex Capital invests in mortgage–backed securities (MBS) on a leveraged foundation in america. It invests in company and non–company MBS consisting of residential MBS, business MBS (CMBS), and CMBS curiosity–solely securities.

Dynex Capital, Inc. reported its third quarter monetary outcomes on October twenty third, 2023. Dynex Capital reported a e book worth of $12.25 and a complete lack of $1.59 for the third quarter. Influenced by charge will increase and unfold widening, the efficiency this quarter noticed leverage rise to eight.5 turns from 7.7 turns within the earlier quarter.

Whereas Dynex’s Financial Adjusted Period (EAD) doesn’t consider the advantages of hedging actions, the corporate predominantly makes use of futures as their major hedging instrument as a result of their market depth, liquidity, and decrease capital necessities.

Click on right here to obtain our most up-to-date Certain Evaluation report on DX (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #6: Permianville Royalty Belief (PVL)

Permianville Royalty Belief operates as a statutory belief and owns a internet earnings curiosity representing the appropriate to obtain 80% of the online earnings from the sale of oil and pure gasoline manufacturing from properties positioned within the states of Texas, Louisiana and New Mexico. The corporate was previously referred to as Enduro Royalty Belief and altered its title to Permianville Royalty Belief in September 2018.

The belief’s property are static in that no additional properties might be added. As well as, the belief is passive, because it has no management over working prices and the speed of manufacturing.

In mid-August, PVL reported (8/14/23) monetary outcomes for the second quarter of fiscal 2023. Oil volumes and gasoline volumes decreased -12% and -28%, respectively, over the prior yr’s quarter and the typical realized costs of oil and gasoline dipped -3% and -10%, respectively. Consequently, distributable revenue decreased -21%.

Click on right here to obtain our most up-to-date Certain Evaluation report on Permianville Royalty Belief (PVL) (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #5: Ellington Residential Mortgage REIT (EARN)

Ellington Residential Mortgage REIT acquires, invests in, and manages residential mortgage and actual property associated property. Ellington focuses totally on residential mortgage-backed securities, particularly these backed by a U.S. Authorities company or U.S. authorities–sponsored enterprise.

Company MBS are created and backed by authorities companies or enterprises, whereas non-agency MBS are not assured by the federal government.

Supply: Investor Presentation

On August tenth, 2023, Ellington Residential reported its second quarter outcomes for the interval ending June thirtieth, 2023. The corporate generated internet revenue of $1.2 million, or $0.09 per share. Ellington achieved adjusted distributable earnings of $2.4 million within the quarter, resulting in adjusted earnings of $0.17 per share, which doesn’t cowl the dividend paid within the interval.

Click on right here to obtain our most up-to-date Certain Evaluation report on EARN (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #4: AGNC Funding Company (AGNC)

American Capital Company Corp is a mortgage actual property funding belief that invests primarily in company mortgage–backed securities (or MBS) on a leveraged foundation.

The agency’s asset portfolio is comprised of residential mortgage cross–by means of securities, collateralized mortgage obligations (or CMO), and non–company MBS. Many of those are assured by authorities–sponsored enterprises.

AGNC Funding Corp. introduced its third-quarter monetary outcomes on October 30, 2023. The corporate reported a complete lack of $1.02 per widespread share, which included a internet lack of $0.68 per widespread share and one other complete loss (OCI) of $0.34 per widespread share on investments marked-to-market by means of OCI.

Regardless of these losses, AGNC reported a $0.65 internet unfold and greenback roll revenue per widespread share, excluding an estimated “catch-up” premium amortization profit. The tangible internet e book worth per widespread share was reported as $8.08 as of September 30, 2023, reflecting a lower of $1.31 per widespread share, or -14.0%, from the tip of the earlier quarter.

Click on right here to obtain our most up-to-date Certain Evaluation report on AGNC Funding Corp (AGNC) (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #3: San Juan Royalty Belief (SJT)

San Juan Basin Royalty Belief is a medium sized gasoline belief, which was arrange 40 years in the past by Southland Royalty Firm. The manufacturing properties are all in northern New Mexico, within the San Juan Basin.

San Juan Basin Royalty Belief has a key distinction from the opposite royalty trusts. It produces a negligible quantity of oil and thus its outcomes are affected solely by the cycles of the worth of pure gasoline. Because of favorable gasoline costs, San Juan Basin Royalty Belief greater than doubled its annual distribution, from $0.77 in 2021 to a 10-year excessive of $1.71 in 2022.

In mid-August, SJT reported (8/14/2023) monetary outcomes for the second quarter of fiscal 2023. Manufacturing of gasoline dipped -8% and the worth of gasoline declined -19% over the prior yr’s quarter. Consequently, distributable revenue per unit decreased -39%.

Click on right here to obtain our most up-to-date Certain Evaluation report on San Juan Basin Royalty Belief (SJT) (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #2: Orchid Island Capital (ORC)

Orchid Island Capital, Inc. is an mortgage REIT that’s externally managed by Bimini Advisors LLC and focuses on investing in residential mortgage-backed securities (RMBS), together with pass-through and structured company RMBSs. These monetary devices generate money stream based mostly on residential loans reminiscent of mortgages, subprime, and home-equity loans.

On October 27, 2023, Orchid Island Capital launched its monetary outcomes for the third quarter. The corporate reported a internet lack of $80.1 million for the quarter ending on September 30, 2023, which is a slight enchancment in comparison with the online lack of $84.5 million for a similar interval in 20222.

Orchid’s Company Residential Mortgage-Backed Securities (RMBS) portfolio elevated from $4.4 billion on the finish of June 2023 to $4.5 billion on the finish of September 2023. The curiosity revenue on this portfolio rose by roughly $10.2 million from Q2 2023. When it comes to yield, the typical Company RMBS yield went up from 3.81% in Q2 2023 to 4.51% in Q3 2023.

Click on right here to obtain our most up-to-date Certain Evaluation report on Orchid Island Capital, Inc. (ORC) (preview of web page 1 of three proven under):

Excessive-Yield Month-to-month Dividend Inventory #1: ARMOUR Residential REIT (ARR)

ARMOUR Residential invests in residential mortgage-backed securities that embody U.S. Authorities-sponsored entities (GSE) reminiscent of Fannie Mae and Freddie Mac. It additionally consists of Ginnie Mae, the Authorities Nationwide Mortgage Administration’s issued or assured securities backed by fixed-rate, hybrid adjustable-rate, and adjustable-rate dwelling loans.

Unsecured notes and bonds issued by the GSE and the US Treasury, cash market devices, and non-GSE or authorities agency-backed securities are examples of different varieties of investments.

Supply: Investor Presentation

On October 25, 2023, ARR introduced its Q3 2023 outcomes and monetary place as of September 30, 2023. Following a one-for-five reverse inventory break up accomplished on September 29, 2023, the corporate reported a lack of $(182.2) million or $(3.92) per widespread share.

Internet curiosity revenue stood at $3.6 million, and distributable earnings obtainable to widespread stockholders had been $50.2 million, equating to $1.08 per widespread share. The asset yield was 4.65%, and after deducting the online price of funds of two.92%, the online curiosity margin was 1.73%.

Click on right here to obtain our most up-to-date Certain Evaluation report on ARMOUR Residential REIT Inc (ARR) (preview of web page 1 of three proven under):

Remaining Ideas

Month-to-month dividend shares could possibly be extra interesting to revenue buyers than quarterly or semi-annual dividend shares. It is because month-to-month dividend shares make 12 dividend funds per yr, as a substitute of the same old 4 or 2.

Moreover, month-to-month dividend shares with excessive yields above 5% are much more engaging for revenue buyers.

The 20 shares on this checklist haven’t been vetted for dividend security, that means every investor ought to perceive the distinctive danger elements of every firm.

That stated, these 20 dividend shares make month-to-month funds to shareholders, and all have excessive dividend yields.

Additional Studying

If you’re thinking about discovering high-quality dividend progress shares and/or different high-yield securities and revenue securities, the next Certain Dividend assets will likely be helpful:

Month-to-month Dividend Inventory Particular person Safety Analysis

Different Certain Dividend Sources