2024 Month-to-month Dividend Shares Listing | See All 78 Now

Up to date on September 4th, 2024 by Bob CiuraSpreadsheet knowledge up to date day by day

Month-to-month dividend shares are securities that pay a dividend each month as a substitute of quarterly or yearly.

This analysis report focuses on all 78 particular person month-to-month paying securities. It contains the next assets.

Useful resource #1: The Month-to-month Dividend Inventory Spreadsheet Listing

This listing accommodates essential metrics, together with: dividend yields, payout ratios, dividend development charges, 52-week highs and lows, betas, and extra.

Be aware: We attempt to take care of an correct listing of all month-to-month dividend payers. There’s no common supply we’re conscious of for month-to-month dividend shares; we curate this listing manually. If of any shares that pay month-to-month dividends that aren’t on our listing, please e-mail help@suredividend.com.

Useful resource #2: The Month-to-month Dividend Shares In Focus SeriesThe Month-to-month Dividend Shares In Focus sequence is the place we analyze all month-to-month paying dividend shares. This useful resource hyperlinks to stand-alone evaluation on every of those securities.

Useful resource #3: The ten Finest Month-to-month Dividend StocksThis analysis report analyzes the ten finest month-to-month dividend shares as ranked by anticipated complete return.

Useful resource #4: Different Month-to-month Dividend Inventory Analysis– Month-to-month dividend inventory efficiency– Why month-to-month dividends matter– The hazards of investing in month-to-month dividend shares– Closing ideas and different earnings investing assets

The Month-to-month Dividend Shares In Focus Collection

You’ll be able to see detailed evaluation on the person month-to-month dividend securities we cowl by clicking the hyperlinks beneath:

Agree Realty (ADC)
AGNC Funding (AGNC)
Atrium Mortgage Funding Company (AMIVF)
Apple Hospitality REIT, Inc. (APLE)
ARMOUR Residential REIT (ARR)
A&W Income Royalties Earnings Fund (AWRRF)
Banco Bradesco S.A. (BBD)
Diversified Royalty Corp. (BEVFF)
Boston Pizza Royalties Earnings Fund (BPZZF)
Bridgemarq Actual Property Companies (BREUF)
BSR Actual Property Funding Belief (BSRTF)
Canadian House Properties REIT (CDPYF)
ChemTrade Logistics Earnings Fund (CGIFF)
Chesswood Group Restricted (CHWWF)
Selection Properties REIT (PPRQF)
Cross Timbers Royalty Belief (CRT)
CT Actual Property Funding Belief (CTRRF)
SmartCentres Actual Property Funding Belief (CWYUF)
Dream Industrial REIT (DREUF)
Dream Workplace REIT (DRETF)
Dynex Capital (DX)
Ellington Residential Mortgage REIT (EARN)
Ellington Monetary (EFC)
EPR Properties (EPR)
Change Earnings Company (EIFZF)
Extendicare Inc. (EXETF)
Flagship Communities REIT (MHCUF)
First Nationwide Monetary Company (FNLIF)
Freehold Royalties Ltd. (FRHLF)
Agency Capital Property Belief (FRMUF)
Fortitude Gold (FTCO)
Technology Earnings Properties (GIPR)
Gladstone Capital Company (GLAD)
Gladstone Industrial Company (GOOD)
Gladstone Funding Company (GAIN)
Gladstone Land Company (LAND)
World Water Assets (GWRS)
Granite Actual Property Funding Belief (GRP.U)
H&R Actual Property Funding Belief (HRUFF)
Horizon Know-how Finance (HRZN)
Hugoton Royalty Belief (HGTXU)
Itaú Unibanco (ITUB)
The Keg Royalties Earnings Fund (KRIUF)
LTC Properties (LTC)
Sienna Senior Residing (LWSCF)
Principal Avenue Capital (MAIN)
Modiv Inc. (MDV)
Mullen Group Ltd. (MLLGF)
Northland Energy Inc. (NPIFF)
NorthWest Healthcare Properties REIT (NWHUF)
Orchid Island Capital (ORC)
Oxford Sq. Capital (OXSQ)
Permian Basin Royalty Belief (PBT)
Phillips Edison & Firm (PECO)
Pennant Park Floating Charge (PFLT)
Peyto Exploration & Growth Corp. (PEYUF)
Pine Cliff Vitality Ltd. (PIFYF)
Primaris REIT (PMREF)
Paramount Assets Ltd. (PRMRF)
PermRock Royalty Belief (PRT)
Prospect Capital Company (PSEC)
Permianville Royalty Belief (PVL)
Pizza Pizza Royalty Corp. (PZRIF)
Realty Earnings (O)
RioCan Actual Property Funding Belief (RIOCF)
Richards Packaging Earnings Fund (RPKIF)
Sabine Royalty Belief (SBR)
Stellus Capital Funding Corp. (SCM)
Savaria Corp. (SISXF)
San Juan Basin Royalty Belief (SJT)
SL Inexperienced Realty Corp. (SLG)
Whitecap Assets Inc. (SPGYF)
Slate Grocery REIT (SRRTF)
Stag Industrial (STAG)
Timbercreek Monetary Corp. (TBCRF)
Tamarack Valley Vitality (TNEYF)
U.S. World Traders (GROW)
Whitestone REIT (WSR)

The ten Finest Month-to-month Dividend Shares

This analysis report examines the ten month-to-month dividend shares from our Certain Evaluation Analysis Database with the best 5-year ahead anticipated complete returns.

We presently cowl practically 80 month-to-month dividend shares each quarter within the Certain Evaluation Analysis Database.

Use the desk beneath to rapidly soar to evaluation on any of the highest 10 finest month-to-month dividend shares as ranked by anticipated complete returns.

Desk of Contents

You’ll be able to immediately soar to any particular part of the article through the use of the hyperlinks beneath:

Month-to-month Dividend Inventory #10: AGNC Funding Corp. (AGNC)

5-12 months Anticipated Complete Return: 9.3%
Dividend Yield: 14.2%

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 go–via securities, collateralized mortgage obligations (or CMO), and non–company MBS. Many of those are assured by authorities–sponsored enterprises.

AGNC Funding Corp. (AGNC) introduced its monetary outcomes for the second quarter of 2024 on July 22, 2024. The corporate reported a complete lack of $(0.13) per frequent share, which included a web lack of $(0.11) per frequent share and a further $(0.02) per frequent share in different complete loss (OCI) on investments marked-to market via OCI.

The online unfold and greenback roll earnings per frequent share was $0.53, excluding a $0.02 per frequent share profit from a “catch-up” premium amortization as a consequence of modifications in projected fixed prepayment fee (CPR) estimates.

AGNC’s tangible web ebook worth per frequent share was $8.40 as of June 30, 2024, a lower of $(0.44) per frequent share, or 5.0%, from $8.84 as of March 31, 2024.

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 beneath):

Month-to-month Dividend Inventory #9: LTC Properties (LTC)

5-12 months Anticipated Complete Return: 9.4%
Dividend Yield: 6.3%

LTC Properties is a REIT that invests in senior housing and expert nursing properties. Its portfolio consists of roughly 50% senior housing and 50% expert nursing properties. The REIT owns 194 investments in 26 states with 31 working companions.

Similar to different healthcare REITs, LTC advantages from a powerful secular development, particularly the excessive development of the inhabitants that’s above 80 years outdated. This development outcomes from the growing old of the newborn boomers’ technology and the regular rise of life expectancy due to sustained progress in medical sciences.

In late July, LTC reported (7/29/24) monetary outcomes for the second quarter of fiscal 2024. Funds from operations (FFO) per share dipped -1.5% over the prior yr’s quarter, from $0.66 to $0.65, and missed the analysts’ consensus by $0.01. The lower in FFO per share resulted from an elevated share depend.

LTC improved its leverage ratio (Web Debt to EBITDA) from 5.5x to five.3x, however that is nonetheless excessive for our consolation zone (max 5.0x).

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

Month-to-month Dividend Inventory #8: Oxford Sq. Capital (OXSQ)

5-12 months Anticipated Complete Return: 10.0%
Dividend Yield: 14.3%

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

The firm holds an equally break up portfolio of First–Lien, Second–Lien, and CLO fairness assets unfold throughout a number of industries, with the best publicity in software program and enterprise providers.

Supply: Investor Presentation

On August thirteenth, 2024, Oxford Sq. reported its Q2 outcomes for the interval ending June thirtieth, 2024. For the quarter, the corporate generated roughly $11.4 million of complete funding earnings, down from $13.5 million within the earlier quarter.

This was as a consequence of decrease curiosity earnings from its debt investments and decrease earnings from its securitization autos.

Additional, the weighted common yield of the corporate’s debt investments was 13.7% at present price, down from 13.9% within the earlier quarter.

Nonetheless, the weighted common money distribution yield of the corporate’s money earnings producing CLO fairness investments at present rose sequentially from 13.7% to 16.2%. The weighted common efficient yield of the corporate’s CLO fairness investments at present price was 9.4%, down from 9.5% within the earlier quarter.

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

Month-to-month Dividend Inventory #7: Horizon Know-how Finance (HRZN)

5-12 months Anticipated Complete Return: 10.2%
Dividend Yield: 11.9%

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

The corporate has generated engaging threat–adjusted returns via instantly originated senior secured loans and extra capital appreciation via warrants.

Supply: Investor Presentation

On July thirtieth, 2024, Horizon launched its Q2 outcomes for the interval ending June thirty first, 2024. For the quarter, complete funding earnings fell 8.5% year-over-year to $25.7 million, primarily as a consequence of decrease curiosity earnings on investments from the debt funding portfolio.

Extra particularly, the corporate’s dollar-weighted annualized yield on common debt investments in Q2 of 2024 and Q2 of 2023 was 15.9% and 16.3%, respectively.

Web funding earnings per share (IIS) fell to $0.36, down from $0.54 in comparison with Q2-2023. Web asset worth (NAV) per share landed at $9.12, down from $9.91 sequentially.

After paying its month-to-month distributions, Horizon’s undistributed spillover earnings as of June thirtieth, 2024 was $1.28 per share, indicating a substantial money cushion.

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

Month-to-month Dividend Inventory #6: Stellus Capital (SCM)

5-12 months Anticipated Complete Return: 10.3%
Dividend Yield: 11.7%

Stellus Capital Administration gives 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 gives first lien, second lien, mezzanine, convertible debt, and fairness investments to a various group of shoppers, usually at excessive yields, within the US and Canada.

Supply: Investor Presentation

Stellus posted first quarter earnings on Could ninth, 2024. Stellus generated $0.44 in adjusted earnings-per-share. Complete funding earnings was $26 million, up 8% year-over-year.

Working bills got here to $16 million, up from $15 million a yr in the past. The rise was pushed by increased incentive charges, as the bottom administration charges for each intervals was roughly equal. Web funding earnings was $10.2 million, up from $9.1 million.

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

Month-to-month Dividend Inventory #5: EPR Properties (EPR)

5-12 months Anticipated Complete Return: 10.7%
Dividend Yield: 7.2%

EPR Properties is a specialty actual property funding belief, or REIT, that invests in properties in particular market segments that require trade data to function successfully.

It selects properties it believes have robust return potential in Leisure, Recreation, and Schooling. The portfolio contains about $7 billion in investments throughout 350+ places in 44 states, together with over 200 tenants.

Supply: Investor Presentation

EPR posted second quarter earnings on July thirty first, 2024, and outcomes have been about as anticipated. The REIT posted adjusted funds-from-operations of $1.20, whereas income was flat year-over-year at $173 million.

Administration famous demand for all of its tenant classes remained robust. Complete working bills elevated to $95 million from $87 million in Q1, however was a lot decrease than $126 million in final yr’s Q2.

Funding spending was $47 million, bringing year-to-date funding spending to $133 million. The REIT additionally has $180 million dedicated for additional experiential improvement and redevelopment initiatives, that are anticipated to be funded and accomplished over the subsequent two years.

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

Month-to-month Dividend Inventory #4: U.S. World Traders (GROW)

5-12 months Anticipated Complete Return: 11.5%
Dividend Yield: 3.5%

U.S. World Traders is a publicly owned funding supervisor, primarily offering its providers to investmentcompanies in addition to to pooled funding autos. It has a tiny market cap of round $40 million.

The corporate handles fairness and glued earnings mutual funds, hedge funds for its shoppers, and change traded funds.

It invests in fastened earnings markets and public fairness world wide. To make its fairness investments the agency additionally invests in G.A.R.P. and worth shares.

On February eighth, U.S. World Traders reported its monetary outcomes for the fiscal quarter ending December 31, 2023. The corporate posted a web earnings of $1.2 million, marking a major enchancment from the earlier quarter’s web lack of $176,000 and reflecting a forty five% improve from the identical interval the earlier yr.

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

Month-to-month Dividend Inventory #3: Apple Hospitality REIT (APLE)

5-12 months Anticipated Complete Return: 12.7%
Dividend Yield: 6.8%

Apple Hospitality REIT is a lodge REIT that owns a portfolio of motels with tens of 1000’s of rooms positioned throughout dozens of states.

It franchises its properties out to main manufacturers, together with Marriottbranded motels, Hilton-branded motels, and Hyatt-branded motels.

As of December 31, 2023, Apple Hospitality owned 225 motels with a complete of 29,900 visitor rooms throughout 88 markets in 38 states.

Supply: Investor Presentation

Apple Hospitality REIT introduced its first-quarter outcomes for 2024. The corporate reported a web earnings of $54.1 million, a 64.2% improve from the earlier yr, with web earnings per share rising to $0.22.

Working earnings grew by 45.4% to $71.6 million, and Adjusted EBITDAre elevated by 5.8% to $100.8 million. The corporate’s common day by day fee (ADR) was $153.18, and occupancy remained regular at 72.0%, leading to a RevPAR of $110.25.

Regardless of these positive aspects, Comparable Accommodations Adjusted Lodge EBITDA barely declined by 3.2% to $111.7 million. The corporate acquired the AC Lodge Washington DC Conference Middle for $116.8 million and bought two Hilton motels in Arkansas for $33.5 million.

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

Month-to-month Dividend Inventory #2: Itau Unibanco (ITUB)

5-12 months Anticipated Complete Return: 12.7%
Dividend Yield: 6.5%

Itaú Unibanco Holding S.A. is headquartered in Sao Paulo, Brazil. The financial institution has operations throughout South America and different locations like america, Portugal, Switzerland, China, Japan, and so forth.

On August fifth, 2024, Itaú Unibanco reported second-quarter outcomes for 2024. Within the second quarter of 2024, the recurring managerial end result reached $1.8 billion, reflecting a 3.1% improve from the earlier quarter.

The consolidated recurring managerial return on fairness was 22.4%, with Brazil’s operations exhibiting a barely increased fee of 23.6%.

The consolidated mortgage portfolio grew by 5.9%, with a 4.3% improve in Brazil. When excluding change fee variations, the consolidated mortgage portfolio rose by 2.7% for the quarter and seven.1% year-on-year.

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

Month-to-month Dividend Inventory #1: Ellington Credit score Co. (EARN)

5-12 months Anticipated Complete Return: 16.0%
Dividend Yield: 14.2%

Ellington Credit score Co. acquires, invests in, and manages residential mortgage and actual property associated belongings. 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 businesses or enterprises, whereas non-agency MBS are not assured by the federal government.

On August twelfth, 2024, Ellington Residential reported its second quarter outcomes for the interval ending June thirtieth, 2024. The corporate generated a web lack of $(0.8) million, or $(0.04) per share.

Ellington achieved adjusted distributable earnings of $7.3 million within the quarter, resulting in adjusted earnings of $0.36 per share, which coated the dividend paid within the interval.

Ellington’s web curiosity margin was 4.24% total. At quarter finish, Ellington had $118.8 million of money and money equivalents, and $44 million of different unencumbered belongings.

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

Different Month-to-month Dividend Inventory Assets

Every separate month-to-month dividend inventory has its personal distinctive traits. The assets beneath provides you with a greater understanding of month-to-month dividend inventory investing.

The next analysis experiences will assist you to generate extra month-to-month dividend inventory funding concepts.

Month-to-month Dividend Inventory PerformanceIn August 2024, a basket of the month-to-month dividend shares above generated constructive returns of two.3%. For comparability, the Russell 2000 ETF (IWM) generated constructive returns of 9.4% for the month.

Notes: Knowledge for efficiency is from Ycharts. Canadian firm efficiency could also be within the firm’s dwelling foreign money. 

Month-to-month dividend shares under-performed the Russell 2000 final month. We are going to replace our efficiency part month-to-month to trace future month-to-month dividend inventory returns.

In August 2024, the three best-performing month-to-month dividend shares (together with dividends) have been:

Financial institution Bradesco SA (BBD), up 25.4%
Modiv Industrial (MDV) , up 12.5%
Extendicare Inc. (EXETF), up 12.4%

The three worst-performing month-to-month dividend shares (together with dividends) within the month have been:

A&W Income Royalties Earnings Fund (AWRRF), down 11.3%
San Juan Basin Royalty Belief (SJT), down 18.8%
Chesswood Group Ltd. (CHWWF), down 71.0%

Why Month-to-month Dividends MatterMonthly dividend funds are helpful for one group of buyers particularly; retirees who depend on dividend shares for earnings.

With that mentioned, month-to-month dividend shares are higher below all circumstances (every little thing else being equal), as a result of they permit for returns to be compounded on a extra frequent foundation. Extra frequent compounding leads to higher complete returns, significantly over lengthy intervals of time.

Think about the next efficiency comparability:

Over the long term, month-to-month compounding generates barely increased returns over quarterly compounding. Each little bit helps.

With that mentioned, it may not be sensible to manually re-invest dividend funds on a month-to-month foundation. It’s extra possible to mix month-to-month dividend shares with a dividend reinvestment plan to greenback price common into your favourite dividend shares.

The final advantage of month-to-month dividend shares is that they permit buyers to have – on common – additional cash readily available to make opportunistic purchases. A month-to-month dividend cost is extra prone to put money in your account whenever you want it versus a quarterly dividend.

Case-in-point: Traders who purchased a broad basket of shares on the backside of the 2008-2009 monetary disaster are probably sitting on triple-digit complete returns from these purchases at present.

The Risks of Investing In Month-to-month Dividend StocksMonthly dividend shares have traits that make them interesting to do-it-yourself buyers on the lookout for a gradual stream of earnings. Usually, these are retirees and other people planning for retirement.

Traders ought to word many month-to-month dividend shares are extremely speculative. On common, month-to-month dividend shares are likely to have elevated payout ratios. An elevated payout ratio means there’s much less margin for error to proceed paying the dividend if enterprise outcomes undergo a short lived (or everlasting) decline.

In consequence, we have now actual issues that many month-to-month dividend payers won’t be able to proceed paying rising dividends within the occasion of a recession.

Moreover, a excessive payout ratio implies that an organization is retaining little cash to take a position for future development. This will lead administration groups to aggressively leverage their steadiness sheet, fueling development with debt. Excessive debt and a excessive payout ratio is maybe probably the most harmful mixture round for a possible future dividend discount.

With that mentioned, there are a handful of high-quality month-to-month dividend payers round. Chief amongst them is Realty Earnings (O). Realty Earnings has paid rising dividends (on an annual foundation) yearly since 1994.

The Realty Earnings instance reveals that there are high-quality month-to-month dividend payers round, however they’re the exception slightly than the norm. We recommend buyers do ample due diligence earlier than shopping for into any month-to-month dividend payer.

Closing Ideas & Different Earnings Investing Assets

Monetary freedom is achieved when your passive funding earnings exceeds your bills. However the sequence and timing of your passive earnings funding funds can matter.

Month-to-month funds make matching portfolio earnings with bills simpler. Most private bills recur month-to-month whereas most dividend shares pay quarterly. Investing in month-to-month dividend shares matches the frequency of portfolio earnings funds with the traditional frequency of non-public bills.

Moreover, many month-to-month dividend payers provide buyers excessive yields. The mix of a month-to-month dividend cost and a excessive yield must be particularly interesting to earnings buyers.

However not all month-to-month dividend payers provide the security that earnings buyers want. A month-to-month dividend is healthier than a quarterly dividend, however not if that month-to-month dividend is decreased quickly after you make investments. The excessive payout ratios and shorter histories of most month-to-month dividend securities imply they have an inclination to have elevated threat ranges.

Due to this, we advise buyers to search for high-quality month-to-month dividend payers with affordable payout ratios, buying and selling at honest or higher costs.

Moreover, see the assets beneath for extra compelling funding concepts for dividend development shares and/or high-yield funding securities.