Stocks that Pay Monthly Dividends – The Comprehensive List

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Quarterly dividend distributions might be sufficient for investors with other income sources that seek to build a portfolio balanced between income and capital gains. However, investors who rely on a steady income flow to cover their general expenses are better served by stocks that pay monthly dividends.

Investors could try to create a portfolio mix of stocks that would mimic monthly dividends on their own. One way to accomplish that would be to select three different stocks with staggered quarterly distribution pay dates. The three separate stocks would pay dividends on their own quarterly schedule, but the investor would receive one dividend payout every month.

While theoretically possible, this strategy is not easy to execute. Most companies have their own preferences regarding timing of their dividend distributions. Generally, these dividend payouts align with the ends of financial periods and quarterly results release schedules. Since the majority of stocks follow the calendar year timing, investors will have a larger selection of stocks with pay dates in April, July, October and January than the other months. This imbalance and a limited selection of stocks paying dividend in the off-calendar quarters would limit the selection of stocks that meet the investor’s requirements.

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Additionally, the smaller selection of viable stocks, would potentially lead to lower total returns over extended periods, a less-than optimal portfolio strategy and a variance in the payout amounts of monthly dividends received each month. Again, investors could smooth the monthly dividends by selecting stocks with similar levels of payout amounts. However, that would further limit the selection of viable stocks and lead to additional portfolio inefficiencies.

Therefore, instead of distributing dividends only once every quarter or paying varied monthly dividends from stocks with staggered quarterly payments, monthly dividends deliver a constant flow of income, with significantly less management effort.

The low management effort is an important advantage of monthly dividends. Many individuals on fixed income — such as retirees — rely on monthly dividends to pay their monthly bills and expenses, but do not wish to spend too much time maintaining their investment portfolio. Therefore, a diversified stocks portfolio that pays reliable monthly dividends and requires minimal investor involvement is ideal for individuals who prefer to spend their time engaged in other activities.

While the list below focuses primarily on stocks that pay monthly dividends, many of the equities that generally offer higher-than-average dividend yields — such as Real Estate Investment Trusts (REITs) and Master Limited Partnerships (MLPs) — are equities that offer monthly dividends.

Most investment advisory sites and brokerages offer a special section for researching equities with monthly dividends — such as the Monthly Dividend Directory available on DividendInvestor.com.

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The list below comprises all company stocks — excluding mutual funds, exchange-traded funds (ETFs) and exchange-traded notes (ETNs) — that offer monthly dividends. In addition to the basic information to identify each stock, the list provides additional pieces of data, such as market capitalization, dividend yield, the current streak of annual dividend hikes, etc.

 

Stocks that Pay Monthly Dividends

 

AGNC Investment Corporation (NASDAQ:AGNC)

Market Cap: $9.72 billion

Sector: Financials

First Dividend Paid: 2008

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.18

Annualized Payout: $2.16

April 17, 2019, Closing Price: $18.15

Dividend Yield: 11.9%

 

Grupo Aval Acciones Y Valores SA (NYSE:AVAL)

Market Cap: $185.6 billion

Sector: Financials

First Dividend Paid: 2014

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.0294

Annualized Payout: $0.3528

April 17, 2019 Closing Price: $8.33

Dividend Yield: 4.24%

 

Capitala Finance Corporation (NASDAQ:CPTA)

Market Cap: $139.83 million

Sector: Financials

First Dividend Paid: 2013

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.083

Annualized Payout: $1.00

April 17, 2019, Closing Price: $8.78

Dividend Yield: 11.38%

 

Enerplus Corporation (NYSE:ERF)

Market Cap: $1.85 billion

Sector: Energy

First Dividend Paid: 2000

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.0075 (CA$0.01)

Annualized Payout: $0.09 (CA$0.12)

April 17, 2019, Closing Price: $8.89

Dividend Yield: 1.0%

 

Great Elm Capital Corporation (NASDAQ:GECC)

Market Cap: $89.05 million

Sector: Financials

First Dividend Paid: 2017

Consecutive Annual Dividend Hikes: 1 year

Monthly Dividend: $0.083

Annualized Payout: $1.00

April 17, 2019, Closing Price: $8.36

Dividend Yield: 11.91%

 

Global Net Lease, Inc. (NYSE:GNL)

Market Cap: $1.56 billion

Sector: Financials

First Dividend Paid: 2015

Consecutive Annual Dividend Hikes: 1 year

Monthly Dividend: $0.1775

Annualized Payout: $2.13

April 17, 2019, Closing Price: $18.2

Dividend Yield: 11.70%

 

Global Water Resources, Inc. (NASDAQ:GWRS)

Market Cap: $207.20 million

Sector: Utilities

First Dividend Paid: 2016

Consecutive Annual Dividend Hikes: 2 years

Monthly Dividend: $0.024

Annualized Payout: $0.29

April 17, 2019 Closing Price: $9.65

Dividend Yield: 2.97%

 

Harvest Capital Credit Corporation (NASDAQ:HCAP)

Market Cap: $66.16 million

Sector: Financials

First Dividend Paid: 2013

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.08

Annualized Payout: $0.96

April 17, 2019, Closing Price: $10.67

Dividend Yield: 9.0%

 

Horizon Technology Finance Corporation (NASDAQ:HRZN)

Market Cap: $138.33 million

Sector: Financials

First Dividend Paid: 2010

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.1

Annualized Payout: $1.2

April 17, 2019, Closing Price: $11.8

Dividend Yield: 10.17%

 

LTC Properties, Inc. (NYSE:LTC)

Market Cap: $1.78 billion

Sector: Financials

First Dividend Paid: 1992

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.19

Annualized Payout: $2.28

April 17, 2019, Closing Price: $43.8

Dividend Yield: 5.21%

 

Main Street Capital Corporation (NYSE:MAIN)

Market Cap: $2.39 billion

Sector: Financials

First Dividend Paid: 2007

Consecutive Annual Dividend Hikes: 4 years

Monthly Dividend: $0.2

Annualized Payout: $2.4

April 17, 2019, Closing Price: $38.31

Dividend Yield: 6.26%

 

Realty Income Corporation (NYSE:O)

Market Cap: $21.06 billion

Sector: Financials

First Dividend Paid: 1994

Consecutive Annual Dividend Hikes: 19 years

Monthly Dividend: $0.226

Annualized Payout: $2.71

April 17, 2019, Closing Price: $67.77

Dividend Yield: 4.0%

 

Orchid Island Capital, Inc. (NYSE:ORC)

Market Cap: $330.90 million

Sector: Financials

First Dividend Paid: 2013

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.08

Annualized Payout: $0.96

April 17, 2019, Closing Price: $6.88

Dividend Yield: 13.95%

 

Pembina Pipeline Corporation (NYSE:PBA)

Market Cap: $13.95 billion

Sector: Energy

First Dividend Paid: 2010

Consecutive Annual Dividend Hikes: 8 years

Monthly Dividend: $0.1423 (CA$0.19)

Annualized Payout: $1.7074 (CA$2.28)

April 17, 2019, Closing Price: $37.28

Dividend Yield: 4.58%

 

PennantPark Floating Rate Capital, Ltd. (NASDAQ:PFLT)

Market Cap: $503.26 million

Sector: Financials

First Dividend Paid: 2011

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.095

Annualized Payout: $1.14

April 17, 2019, Closing Price: $13

Dividend Yield: 8.77%

 

Prospect Capital Corporation (NASDAQ:PSEC)

Market Cap: $2.46 billion

Sector: Financials

First Dividend Paid: 2004

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.06

Annualized Payout: $0.72

April 17, 2019, Closing Price: $6.69

Dividend Yield: 10.76%

 

Stellus Capital Investment Corporation (NYSE:SCM)

Market Cap: $229.26 million

Sector: Financials

First Dividend Paid: 2012

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.113

Annualized Payout: $1.36

April 17, 2019, Closing Price: $14.37

Dividend Yield: 9.46%

 

STAG Industrial, Inc. (NYSE:STAG)

Market Cap: $3.24 billion

Sector: Financials

First Dividend Paid: 2011

Consecutive Annual Dividend Hikes: 4 years

Monthly Dividend: $0.12

Annualized Payout: $1.43

April 17, 2019, Closing Price: $28.35

Dividend Yield: 5.05%

 

Solar Senior Capital, Ltd. (NASDAQ:SUNS)

Market Cap: $281.18 million

Sector: Financials

First Dividend Paid: 2011

Consecutive Annual Dividend Hikes: 0 years

Monthly Dividend: $0.1175

Annualized Payout: $1.41

April 17, 2019, Closing Price: $17.36

Dividend Yield: 8.12%

 

Vermilion Energy, Inc. (NYSE:VET)

Market Cap: $2.96 billion

Sector: Energy

First Dividend Paid: 2010

Consecutive Annual Dividend Hikes: 1 year

Monthly Dividend: $0.1722 (CA$0.23)

Annualized Payout: $2.07 (CA$2.76)

April 17, 2019, Closing Price: $27

Dividend Yield: 7.65%

 


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Ned-Piplovic

 

Ned Piplovic is the assistant editor of website content at Eagle Financial Publications. He graduated from Columbia University with a Bachelor’s degree in Economics and Philosophy. Prior to joining Eagle, Ned spent 15 years in corporate operations and financial management. Ned writes for www.DividendInvestor.com and www.StockInvestor.com.


 

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