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Best US Stocks With Monthly Dividends

US Stocks With Monthly Dividend-Payouts For Septemeber 2023!

Monthly dividend stocks are those securities that pay a dividend every month. The majority of US dividend-paying stocks will pay quarterly or annually, but some companies or funds have chosen to have a more frequent payout schedule, and these are good income-producing stocks for those that need a constant cash flow from their investments. 

More frequent dividend payouts result in a smoother income stream, and investors are able to get some of their investment capital out of a stock without having to sell. We found 49 securities that are paying a monthly dividend. 

We have included a list of all 49, and we will highlight some of the best of the bunch; many on the list of highest yield dividend stocks have dividend yields of 10%+, and the best monthly dividend stock has a dividend yield of around 19%.

What Are Monthly Paying Dividend Stocks?

Monthly paying dividend stocks as the name suggests, are stocks of companies or groups of companies that distribute dividend payments to shareholders on a monthly basis. These companies usually have a consistent and reliable cash flow, allowing them to provide regular income to investors. While not as common as quarterly paying dividend stocks, monthly paying dividends can be an appealing choice for investors who prefer more frequent income distributions.

Also check out our top Canadian monthly paying dividend stocks.

Top 5 US Dividend Stocks That Pay Monthly – September 2023

SymbolLast PriceCompany NameForward Annual Div YieldSector
USOI77.35Credit Suisse X-Links Crude Oil Shares Covered Call ETNs33.01%Covered Call ETN
SLVO79.22Credit Suisse X-Links Silver Shares Covered Call ETN19.57%Covered Call ETF
ORC10.32Orchid Island Capital, Inc.18.73%Closed-ended mutual fund
CLM8.4Cornerstone Strategic Value Fund, Inc.17.63%Closed-ended mutual fund
SVOL23.13Simplify Volatility Premium ETF16.89%Covered Call ETF

List of US Stocks With Monthly Dividend-Payouts

List of current US stocks that are paying a monthly dividend.

Ticker

Name

ADC

Agree Realty Corp.

AGNC

AGNC Investment Corp

APLE

Apple Hospitality REIT Inc

ARR

ARMOUR Residential REIT Inc

BBD

Banco Bradesco S.A.

BRMK

Broadmark Realty Capital Inc

CLDT

Chatham Lodging Trust

CRT

Cross Timbers Royalty Trust

DX

Dynex Capital, Inc.

EARN

Ellington Residential Mortgage REIT

EFC

Ellington Financial Inc

EPR

EPR Properties

FTCO

Fortitude Gold Corp

GAIN

Gladstone Investment Corporation

GIPR

Generation Income Properties Inc

GLAD

Gladstone Capital Corp.

GOOD

Gladstone Commercial Corp

GROW

U.S. Global Investors, Inc.

GWRS

Global Water Resources Inc

HRZN

Horizon Technology Finance Corp

ITUB

Itau Unibanco Holding S.A.

LAND

Gladstone Land Corp

LTC

LTC Properties, Inc.

MAIN

Main Street Capital Corporation

O

Realty Income Corp.

ORC

Orchid Island Capital Inc

OXSQ

Oxford Square Capital Corp

PBA

Pembina Pipeline Corporation

PBT

Permian Basin Royalty Trust

PECO

Phillips Edison & Company Inc

PFLT

PennantPark Floating Rate Capital Ltd

PRT

PermRock Royalty Trust

PSEC

Prospect Capital Corp

PVL

Permianville Royalty Trust

SBR

Sabine Royalty Trust

SCM

Stellus Capital Investment Corp

SJR

Shaw Communications Inc.

SJT

San Juan Basin Royalty Trust

SLG

SL Green Realty Corp.

SLRC

SLR Investment Corp

STAG

STAG Industrial Inc

WSR

Whitestone REIT

PPRQF

Choice Properties Real Estate Investment Trust

DREUF

Dream Industrial Real Estate Investment Trust

DRETF

Dream Office Real Estate Investment Trust

EIFZF

Exchange Income Corp.

GRP

Granite Real Estate Investment Trust

SUUIF

Superior Plus Corp.

TRSWF

TransAlta Renewables, Inc.

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List of The Top 16 US Monthly Dividend Stocks by Yield

The list above has a range of dividend yield from a 11% up to over 33%. 

Here is our list of the Best, Highest Yield Stocks; these are the top 10 highest yield monthly dividend-paying stocks.  Updated September 2023.

SymbolLast PriceCompany NameForward Annual Div Yield
USOI77.35Credit Suisse X-Links Crude Oil Shares Covered Call ETNs33.01%
SLVO79.22Credit Suisse X-Links Silver Shares Covered Call ETN19.57%
ORC10.32Orchid Island Capital, Inc.18.73%
CLM8.4Cornerstone Strategic Value Fund, Inc.17.63%
SVOL23.13Simplify Volatility Premium ETF16.89%
CEFD19.49ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN15.36%
OPP8.43RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.14.35%
FSK19.74FS KKR Capital Corp.14.25%
RA16.78Brookfield Real Assets Income Fund Inc.14.21%
RIV11.14RiverNorth Opportunities Fund, Inc.13.48%
NLY20.11Annaly Capital Management, Inc.12.90%
GSBD14.2Goldman Sachs BDC, Inc.12.75%
RYLD18.33Global X Russell 2000 Covered Call ETF12.66%
XRMI20.51Global X S&P 500 Risk Managed Income ETF12.37%
HGLB8.59Highland Global Allocation Fund11.79%
QYLD18.05Global X NASDAQ 100 Covered Call ETF11.49%
SymbolLast PriceForward Annual Div Yield
USOI77.3533.01%
SLVO79.2219.57%
ORC10.3218.73%
CLM8.417.63%
SVOL23.1316.89%
CEFD19.4915.36%
OPP8.4314.35%
FSK19.7414.25%
RA16.7814.21%
RIV11.1413.48%
NLY20.1112.90%
GSBD14.212.75%
RYLD18.3312.66%
XRMI20.5112.37%
HGLB8.5911.79%
QYLD18.0511.49%

Updated September 2023

Examples of Monthly Paying Dividend Stocks

Several companies offer monthly dividend payments to their shareholders. Examples include real estate investment trusts (REITs), utility companies, business development companies (BDCs), and some dividend-focused exchange-traded funds (ETFs).

Benefits of Monthly Paying Dividend Stocks

  • Regular income stream: Monthly dividends provide investors with a steady cash flow that can be especially useful for meeting monthly expenses or supplementing other sources of income.Budgeting and financial planning:
  • The predictability of monthly payments allows investors to plan their finances more effectively, as they can rely on a consistent income stream throughout the year.
  • Compounding potential: Monthly dividends can be reinvested more frequently than quarterly dividends, enabling the power of compounding to potentially accelerate the growth of an investment portfolio over time.

The Best of the Best Monthly Dividend Yield Stocks

Here are the top five monthly dividend stocks ordered by the yield from excellent to best. Updated September 2023.

#5 San Juan Basin Royalty Trust (SJT)

  • Ticker: SJT
  • Dividend Yield: 27.99%

SJT is a trust indenture between Southland Royalty and The Fort Worth National Bank. Southland Royalty conveyed a 75% net royalty interest to the Trust created from Southland Royalty’s oil and gas leasehold and its royalty interest in the San Juan Basin of northwestern New Mexico. Shareholders receive a share of the proceeds from the Trust’s holdings.

Their current price for SJT is $10.86, with a 15.33% dividend yield.

#4 Ellington Financial Inc. (EFC)

  • Ticker: EFC
  • Dividend Yield: 13.00%

EFC is in the financial services industry but has money in the real estate loan sector. They have an objective to generate risk-adjusted total returns for stockholders through investments in a diverse array of assets which includes residential and commercial mortgages and mortgage-backed securities, consumer loans, and securities that are backed by consumer loans, collateralized loan obligations, mortgage, and non-mortgage-related derivatives, and strategic debt and equity investments in loan origination companies.

Their current price sits at $13.70 and have a dividend yield of 13.14%

#3 Ellington Residential Mortgage REIT (EARN)

  • Ticker: EARN
  • Dividend Yield: 13.39%

EARN is a residential mortgage Real Estate Investment Trust (REIT) that is headquartered in Old Greenwich, Connecticut. EARN is in the small-cap category with a market capitalization of about $135 million.   EARN attains, invests in, and manages several real estate assets. The majority of Ellington’s investments focus in on residential mortgage-backed securities and, more specifically, securities that are backed by a U.S. Governmental agency or a U.S. government-sponsored enterprise.

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The REIT is externally managed by the Ellington Residential Mortgage Management LLC. EARN currently has a price of $7.97, a dividend yield of 12.24%.

#2 ARMOUR Residential REIT Inc (ARR)

  • Ticker: ARR
  • Dividend Yield: 19.09%

Our second best dividend yield performer is Armour Residential, another REIT that was created in 2008. Similar to Ellington, Armour’s Trust primarily invests in residential mortgage-backed securities again backed by or issued by the United States government agency or government-sponsored enterprises such as Fannie Mae, Freddie Mac, or Ginnie Mae. 

Armour’s most recent quarter (Q1 2022) results showed that the Trust’s net interest income reached $30.9 million, with liquidity, which includes cash and unencumbered securities, totaling $628 million, and a book value of $8.48/ common share to end the quarter. This means that the first quarter’s distributable earnings per share (EPS) was $0.28 and its debt to equity ratio stood at 6.3 to 1, and its leverage, including its TBA securities, finished the quarter at 7.0 to 1.

The current price of Armour Residential (at writing) is $6.11 per share with an annual dividend of 19.77%.

#1 Orchid Island Capital (ORC)

  • Ticker: ORC
  • Dividend Yield: 18.73%

Our stock with the best monthly dividend payout is ORC. ORC is also a REIT, but it is solely in the mortgage industry.    Traditional REITs own a real estate portfolio leased to tenants, while mortgage REITs do not own property and are purely financial, investing in residential mortgage-backed securities (RMBS) that create cash flow from residential loans. Though it recently cut its dividend, ORC still tops the list for the highest yield and has a small amount of growth.

The current price for a share of ORC is $12.10, and it has a class-leading dividend yield of 15.87%.

Summary and Thoughts

All of the top five look like they will be winners over the next few years, and stocks with monthly dividend payouts allow you to get some of your money out of an investment before having to sell that stock. 

For anyone who wants a regular payout, these high-yield dividend-paying stocks can be extraordinary. Just remember, like, with any investment, markets can change quickly.   

Many of these stocks are in the Real Estate Sector or they are in real estate-related finance, which means that a change in lending rates and the Real Estate market can have a significant effect on their business. 

So pay attention to where the markets are moving and make changes accordingly.