Top 15 Stocks That Pay Monthly Dividends

In this article, we will be discussing stock dividends. How to know if a stock pays monthly dividends, top 10 stocks that pay monthly dividends, and 5 highest paying monthly dividend stocks.

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A dividend is the distribution of a company’s earnings to its shareholders, and the board of directors determines it. Dividends are distributed quarterly or monthly and can be paid out as reinvestment in additional stock or cash.

Stocks That Pay Monthly Dividends
Credit:dividendinvestor.com

What are Stock Dividends?

A stock dividend is a type of dividend payment to a company’s shareholders that is paid in shares, not cash. The stock dividend can reward its shareholders without the company’s cash balance being reduced.

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These stock distributions are made as fractions paid per existing share. If an organization or a company issues a stock dividend of 5 percent, it is required to provide 0.05 shares for each share owned by existing shareholders. The owner of 100 shares would gain 5 additional shares.

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How to know if a Stock pays Monthly Dividends

People or investors can determine which stocks pay dividends by researching financial news sitesMany stock brokerages offer customers screening tools that help them find information on dividend-paying stocks.

Top 10 Stocks that pay Monthly Dividends

These companies have high dividend yields that make them a good investment for those looking to earn monthly money. Below is a list of the top 10 stocks that pays monthly dividends.

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1. Itaú Unibanco Holding S.A. (NYSE: ITUB)

Itaú Unibanco Holding S.A. is a Brazilian financial services company that offers corporate, retail, commercial, and private banking services. In Q1 2022, the Itaú company reported solid finances; the company reported a net income of R$7.4 billion, and its revenue for the quarter grew by 11.5% to R$33 billion.

2. Global Water Resources, Inc. (NASDAQ: GWRS)

Global Water Resources, Inc. is an Arizona-based water resource management company that provides wastewater utility and recycled water services. The Global Water company was a part of five hedge fund portfolios in Q2 2022, up from four in the previous quarter, according to the data provided by Insider Monkey. The stakes owned by hedge funds hold a collective value of over 6.3 million dollars.

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4. Gladstone Land Corporation (NASDAQ: LAND)

Gladstone Land Corporation/company is a real estate investment trust company based in Virginia. The company has a strong dividend history, growing its dividends 22x in the past 25 quarters.

Moreover, Gladstone Land Corporation has paid over 100 consecutive monthly dividends since its IPO in the year 2013. The company pays a monthly dividend of $0.0456 per share, raising it by 4 percent in July. The stock’s dividend yield came in at 2.33 percent as of August 30.

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5.Agree on Realty Corporation (NYSE: ADC)

Agree Realty Corporation is an American real estate investment trust. The company specializes in developing and acquiring properties net leased to national retailers. Agree Street analysts appreciated Realty Corporation after its Q2 2022 results. In August, RBC Capital and Truist raised their price targets on the stock to $84 and $83, respectively.

6. Realty Income Corporation (NYSE: O)

Realty Income Corporation is one of the popular stocks that pay monthly dividends. Realty Income Corporation company has been consistently raising its dividends since its IPO in the year 1994. The company currently pays a monthly dividend of $0.2475 per share, with a dividend yield of 4.24 percent, as of August 30.

7. Apple Hospitality REIT, Inc. (NYSE: APLE)

Apple Hospitality REIT, Inc. is a real estate investment trust company based in Virginia, and the company invests in income-producing real estate. As of May, Apple Hospitality REIT owns approximately 219 hotels across 36 states.

According to the data given by Insider Monkey, seventeen (17) hedge funds held positions in Apple Hospitality REIT, Inc. in Q1, with stakes valued at $154.2 million. With nearly three (3) million shares, PAR Capital Management held the most significant position in the company in Q1.

8. Prospect Capital Corporation (PSEC)

Prospect Capital Corporation is a business development firm/company that makes equity and debt investments in middle-market companies in the U.S. The company does so across many industries and aims to provide investors stable returns.

The company’s portfolio includes $7.5 billion of assets and has already funded over 375 investments. The company’s website notes that it has declared over $3.7 billion of dividends for investors.

9. STAG Industrial, Inc. (STAG)

STAG Industrial, Inc. is a REIT focused on operating and acquiring industrial properties in the U.S. Most of the company’s properties are manufacturing facilities or warehouses. STAG has acquired 74 buildings totaling 12.9 million square feet and invested 1.4 billion dollars.

The company’s enterprise value is $9.9 billion, with 551 buildings totaling 110.1 million square feet. The company has a presence in 40 different states.

10. S.L. Green (SLG)

The SL Green company is the REIT behind many Big Apple offices. The company calls itself “New York City’s largest owner of office real estate.” Despite the concern about employees working from home even as COVID winds down, New York City remains a top market for this type of real estate.

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SLG (S.L. Green) is a REIT that invests in New York City shopping centers and office buildings. The company has properties in Midtown, Midtown South, and downtown. As of March 31 this year, SLG held interests in 71 buildings totaling 34.7 million square feet. The company has a market cap of 2.92 billion.

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5 Highest Paying monthly dividends stocks 

Dividend stocks offer investors a high yield and the potential to earn a healthy return on investment. With so many great dividend stocks to choose from, it’s hard to narrow it down, but here are five of the highest-paying monthly dividends stocks.

 1. Main Street Capital Corporation

Main Street Capital Corporation, also known as MAIN, is a private equity firm that invests in lower and middle market companies with revenues between $10 million – $150 million. The MAIN company has been around since the mid-1990s and has helped more than 200 private companies grow.

The company focuses on companies with stable and positive cash flow, strong competitive advantages, and seasoned management teams with established track records. The company has a market cap of $2.97 billion, and the dividend yield is 6.38 percent.

2. Realty Income Corporation

Realty Income Corporation is a real estate investment that invests in commercial properties. As a REIT, the corporation is confident in its ability to pay monthly dividends that it calls itself The Monthly Dividend Company.

Realty Income Corporation is a member of the S&P 500 and S&P 500 Dividend Aristocrats index. The company has a market cap of $40.93 billion, and its dividend yield is 4.28%S.L. Green.

SLG (S.L. Green) is a REIT that invests in New York City shopping centers and office buildings. The company has properties in Midtown, Midtown South, and downtown. As of March 31 this year, SLG held interests in 71 buildings totaling 34.7 million square feet. The company has a market cap of 2.92 billion.

3. AGNC Investment Corporation

The AGNC (AGNC Investment Corporation) is a REIT that invests in residential mortgages. The company invests in mortgage-backed securities.

Although the company invests on a leveraged basis, the company’s investments are “agency MBS,” which means government agencies back the company. This fact can help reduce the risk for investors. The company has a market cap of $6.07 billion.

4. EPR Properties

EPR (EPR Properties) describes itself as an experiential REIT. The company invests in commercial properties, and it primarily focuses on entertainment. These properties include movie theatres, amusement parks, and ski resorts.

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The company’s current investment portfolio contains $6.4 billion worth of assets and claims its market potential is up to $100 billion worth of assets. The company has a market of $3.59 billion.

5. Pembina Pipeline

Pembina Pipeline is a Canadian energy infrastructure company. It operates pipelines, processing plants, storage terminals, and export facilities. The company primarily leases the capacity to utilize its assets to other energy companies under long-term, fixed-rate contracts. These agreements enable Pembina to generate steady cash flow.

FAQS

How can I earn 1000 a month in dividends?

To have a unique and perfect portfolio to generate $1000 every month in dividends, investors should have at least 30 to 35 stocks in at least ten different sectors. The stock should not be more than 3.33 percent of its portfolio.

If each stock generates around $400 in dividend income a year, 30 of each stock will generate $12,000 a year or $1000 a month.

Does Coca-Cola pay dividends monthly?

Coca-Cola does NOT pay dividends monthly.

Can I live off of dividends?

Shareholders don’t decide when they receive dividends or how much they will be. So, while people can live off the dividends from their investments, it might not be the best retirement strategy.

Does Apple pay dividends monthly?

Apple dividends are paid quarterly.

Are monthly dividends better?

To make budgeting easier, monthly dividend stocks are best to match income with monthly expenses such as utility and mortgage payments.

How much money do I need to invest to make $1000 monthly?

To generate $1,000 each month in dividends, an investor needs to build a portfolio of stock(s) that will produce at least $12,000 to $13,000 in dividends annually. Using an average dividend yield of 3 percent per year, investors need a portfolio of $400,000 to generate the net income ($400,000 X 3 percent = $12,000).

Conclusion

A stock dividend is a payment to shareholders that is made in shares. The stock dividend rewards its shareholders without reducing the company’s cash balance, although the dividend can dilute earnings per share. As opposed to cash dividends, stock dividends might signal limited cash reserves and financial instability. 

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