Prime 20 Highest Yielding Month-to-month Dividend Shares Now

Up to date on January eighth, 2025 by Bob Ciura

Month-to-month dividend shares have immediate attraction 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.

For that reason, we created a full checklist of ~80 month-to-month dividend shares.

You possibly can 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 beneath:

 

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

With the common S&P 500 yield hovering round 1.3%, buyers can generate rather 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 fuel royalty belief, which have excessive fluctuations of their dividend payouts from one quarter to the subsequent because of the underlying volatility of commodity costs.

The checklist additionally solely consists of U.S.-based corporations.

You possibly can immediately leap to a person part of the article by using the hyperlinks beneath:

Excessive-Yield Month-to-month Dividend Inventory #20: LTC Properties (LTC)

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.

Supply: Investor Presentation

In late October, LTC reported (10/29/24) monetary outcomes for the third quarter of fiscal 2024. Funds from operations (FFO) per share grew 5% over the prior 12 months’s quarter, from $0.65 to $0.68, however missed the analysts’ consensus by $0.01.

The rise in FFO per share resulted primarily from increased revenue from beforehand transitioned properties and better revenue from mortgage originations. LTC drastically improved its leverage ratio (Internet Debt to EBITDA) from 5.3x to 4.2x thanks to numerous asset gross sales.

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

Excessive-Yield Month-to-month Dividend Inventory #19: Gladstone Capital (GLAD)

Gladstone Capital is a enterprise improvement 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 measurement is often within the $7 million to $30 million vary and has phrases as much as seven years.

Supply: Investor Presentation

Gladstone posted fourth quarter and full-year earnings on November thirteenth, 2024, and outcomes had been wanting analyst estimates. Internet funding revenue, which is akin to earnings, got here to 50 cents per share.

NII was anticipated to be 53 cents, and was down from 57 cents within the prior quarter. Whole funding revenue, which is a income measure, got here to $23.7 million, down from $25.7 million within the earlier quarter.

Whole repayments and web proceeds had been $12.6 million, down from $86.4 million within the prior quarter. Whole investments at truthful worth rose 5.1% quarter-over-quarter to $796 million. Internet asset worth per frequent share was $21.18 in September, up from $20.18 in June.

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

Excessive-Yield Month-to-month Dividend Inventory #18: Apple Hospitality REIT (APLE)

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

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

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

Supply: Investor Presentation

Apple Hospitality REIT, Inc. (APLE) reported its second-quarter 2024 monetary outcomes, demonstrating stable efficiency throughout key metrics.

The corporate posted earnings per share (EPS) of $0.31, beating estimates by $0.01, and generated income of $390.08 million, representing a 7.87% year-over-year improve and surpassing expectations by $2.57 million.

For the second quarter, Apple Hospitality recorded web revenue of $73.9 million, a rise of 13.2% in comparison with the identical interval in 2023, with a web revenue per share of $0.31, up 6.9%.

The corporate’s working revenue for Q2 was $93.5 million, up 12.6%, and the working margin improved by 100 foundation factors to 24%.

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

Excessive-Yield Month-to-month Dividend Inventory #17: Gladstone Funding Company (GAIN)

Gladstone Funding is a enterprise improvement firm (BDC) that focuses on US-based small- and medium-sized corporations. Industries which Gladstone Funding targets embrace aerospace & protection, oil & fuel, equipment, electronics, and media & communications.

Gladstone Funding reported its second quarter (Q2 2024 ended September 30) earnings outcomes on November 7. The corporate generated complete funding revenue of $22.6 million through the quarter, which represents a rise of two% in comparison with the prior quarter.

This was a greater efficiency in comparison with the earlier quarter, when the expansion charge was detrimental.

Gladstone Funding’s adjusted web funding income-per-share totaled $0.24 through the fiscal second quarter. That was unchanged from the earlier quarter’s stage.

Gladstone Funding‘s web asset worth per share totaled $12.49 on a per-share foundation on the finish of the quarter.

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

Excessive-Yield Month-to-month Dividend Inventory #17: Gladstone Industrial (GOOD)

Gladstone Industrial Company is an actual property funding belief, or REIT, that makes a speciality of single-tenant and anchored multi-tenant web leased industrial and workplace properties throughout the U.S.

The belief targets main and secondary markets that possess favorable financial progress developments, rising populations, sturdy employment, and strong progress developments.

Supply: Investor Presentation

The belief’s acknowledged aim is to pay shareholders month-to-month distributions, which it has completed for greater than 17 consecutive years. Gladstone owns over 100 properties in 24 states which are leased to about 100 distinctive tenants.

Gladstone posted third quarter earnings on November 4th, 2024, and outcomes had been higher than anticipated on each the highest and backside traces.

Funds-from-operations got here to 38 cents, which was three cents forward of estimates. Income was up 7.6% year-over-year to $39.24 million, which was $2.38 million forward of expectations.

Similar-store rents proceed to rise, and the belief is continuous to give attention to constructing its industrial property portfolio relatively than places of work. Concentrations in these two areas at the moment are 63% and 33%, respectively.

Occupancy ended the quarter at 98.5%, which was unchanged from Q2. Gladstone additionally famous it collected 100% of its money rents that had been due through the quarter.

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

Excessive-Yield Month-to-month Dividend Inventory #15: EPR Properties (EPR)

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 sturdy return potential in Leisure, Recreation, and Training. The portfolio consists of about $7 billion in investments throughout 350+ places in 44 states, together with over 200 tenants.

Supply: Investor Presentation

EPR posted third quarter earnings on October thirtieth, 2024, and outcomes had been higher than anticipated on each the highest and backside traces. Funds-from-operations got here to $1.29, which was two cents forward of estimates. FFO was down from $1.47 per share a 12 months in the past. On a greenback foundation, FFO fell from $113 million to only over $100 million.

Income was off virtually 5% year-over-year to $180.5 million, which was $21.5 million forward of expectations. For the 9 months, income was off from $534 million to $521 million.

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

Excessive-Yield Month-to-month Dividend Inventory #14: Modiv Industrial (MDV)

Modiv Industrial acquires, owns, and actively manages single-tenant net-lease industrial, retail, and workplace properties in america, specializing in strategically important and mission-critical properties with predominantly investment-grade tenants.

As of its most up-to-date filings, the corporate’s portfolio comprised 44 properties that occupied 4.6 million sq. toes of combination leasable space.

Modiv reported its Q3 outcomes for the interval ending September thirtieth, 2024. For the quarter, rental revenue got here in at $11.6 million, down 7.3% year-over-year.

This was primarily because of the elimination of some non-NNN tenant reimbursements associated to the August 2023 portfolio disposition of 13 properties.

Administration payment revenue was steady at almost $66 million. Whole revenue reached almost $11.7 million, down 7.2% from $12.6 million final 12 months.

AFFO was $3.7 million, or $0.34 per diluted share, according to AFFO of $3.7 million, or $0.33 per diluted share, within the prior 12 months interval.

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

Excessive-Yield Month-to-month Dividend Inventory #13: Fortitude Gold (FTCO)

Fortitude Gold is a junior gold producer with operations in Nevada, U.S.A, one of many world’s premier mining pleasant jurisdictions. The corporate targets high-grade gold open pit heap leach operations averaging one gram per tonne of gold or better.

Its property portfolio at present consists of 100% possession in six high-grade gold properties. All six properties are inside an approximate 30-mile radius of each other throughout the prolific Walker Lane Mineral Belt.

Supply: Investor Presentation

On November fifth, 2024, Fortitude Gold launched its Q3 outcomes for the interval ending September 30st, 2024. For the quarter, revenues got here in at $10.2 million, 52% decrease in comparison with final 12 months.

The decline in revenues was primarily attributable to a 62% drop in gold gross sales quantity and a 54% lower in silver gross sales quantity. Nevertheless, these reductions had been partially offset by a 26% improve in gold costs and a 23% rise in silver costs.

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

Excessive-Yield Month-to-month Dividend Inventory #12: Itau Unibanco (ITUB)

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 on.

On November fifth, 2024, Itaú Unibanco reported third-quarter outcomes for 2024. The corporate reported recurring managerial consequence for the third quarter of 2024 was roughly $2.1 billion USD, reflecting a 6.0% improve from the earlier quarter.

The recurring managerial return on fairness stood at 22.7% on a consolidated foundation and 23.8% for operations in Brazil. Whole belongings grew by 2.6%, surpassing $590 billion USD, whereas the mortgage portfolio elevated by 1.9% globally and a couple of.1% in Brazil for the quarter, with year-on-year progress charges of 9.9% and 10.0%, respectively.

Key drivers included private, car, and mortgage loans, which noticed quarterly progress charges of three.1%, 3.0%, and three.9%, respectively.

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

Excessive-Yield Month-to-month Dividend Inventory #11: PennantPark Floating Price Capital (PFLT)

PennantPark Floating Price Capital Ltd. is a enterprise improvement firm that seeks to make secondary direct, debt, fairness, and mortgage investments.

The fund additionally goals to take a position by floating charge loans in personal or thinly traded or small market-cap, public center market corporations, fairness securities, most popular inventory, frequent inventory, warrants or choices acquired in reference to debt investments or by direct investments.

On November 26, 2024, PennantPark Floating Price Capital reported sturdy outcomes for the fourth fiscal quarter of 2024, with core web funding revenue of $0.32 per share. The portfolio grew 20% quarter-over-quarter, reaching $2 billion because the agency deployed $446 million throughout 10 new and 50 present corporations.

Investments carried a median yield of 11%, reflecting the continued power of the center market lending atmosphere. After the quarter, PFLT remained energetic, investing an extra $330 million at a yield of 10.2%.

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

Excessive-Yield Month-to-month Dividend Inventory #10: Stellus Capital (SCM)

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, nearly all 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 third quarter earnings on November seventh, 2024, and outcomes had been fairly weak on each the highest and backside traces. Internet funding revenue, which has similarities to earnings-per-share, got here to 40 cents.

This was 4 cents gentle of estimates, or about 9%. Whole funding revenue was $26.5 million, down 2.5% year-over-year, and lacking estimates by $1.34 million.

Gross working bills had been $16.2 million, which was basically flat year-over-year. Base administration charges totaled $3.9 million for this 12 months’s Q3 and the identical interval a 12 months in the past.

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

Excessive-Yield Month-to-month Dividend Inventory #9: Prospect Capital (PSEC)

Prospect Capital Company is a Enterprise Growth Firm, or BDC, that gives personal 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 posted first quarter earnings on November eighth, 2024, and outcomes had been weak. Nevertheless, the massive information was a 25% dividend lower. Prospect lowered its payout to 54 cents per share yearly, sending the inventory reeling.

Internet funding revenue was 21 cents per share in Q1, and income was $196 million. That was down 17% year-over-year.

The corporate is within the midst of rotating its technique to emphasise first lien senior secured lending as an alternative of actual property investments and collateralized mortgage obligations, or CLOs.

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

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

Ellington Monetary Inc. acquires and manages mortgage, client, company, and different associated monetary belongings 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.

Supply: Investor Presentation

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

On November sixth, 2024, Ellington Monetary reported its Q3 outcomes for the interval ending September thirtieth, 2024. Adjusted (beforehand known as “core”) EPS got here in at $0.40, seven cents increased versus Q2-2024.

The rise was pushed partly by a sizeable contribution from Ellington’s proprietary reverse mortgage technique, offset by the next share depend. Ellington’s e-book worth per share fell from $13.92 to $13.66 over the last three months.

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

Excessive-Yield Month-to-month Dividend Inventory #7: Horizon Expertise (HRZN)

Horizon Expertise 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 threat–adjusted returns by instantly originated senior secured loans and extra capital appreciation by warrants.

Supply: Investor Presentation

On October twenty ninth, 2024, Horizon launched its Q3 outcomes for the interval ending September thirtieth, 2024. For the quarter, complete funding revenue fell 15.5% year-over-year to $24.6.7 million, primarily attributable to decrease curiosity revenue on investments from the debt funding portfolio.

Extra particularly, the corporate’s dollar-weighted annualized yield on common debt investments in Q3 of 2024 and Q3 of 2023 was 15.9% and 17.1%, respectively.

Internet funding revenue per share (IIS) fell to $0.32, down from $0.53 in comparison with Q3-2023. Internet asset worth (NAV) per share landed at $9.06, down from $9.12 sequentially.

After paying its month-to-month distributions, Horizon’s undistributed spillover revenue as of June thirtieth, 2024 was $1.27 per share, indicating a substantial money cushion.

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

Excessive-Yield Month-to-month Dividend Inventory #6: 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.

Supply: Investor Presentation

Dynex Capital launched its third-quarter 2024 monetary outcomes, showcasing stable efficiency and strategic initiatives.

The corporate reported a complete financial return of $0.89 per frequent share, representing 7.1% of the start e-book worth. The e-book worth per frequent share stood at $13.00 as of September 30, 2024.

For the quarter, Dynex generated complete revenue of $0.93 per share and web revenue of $0.38 per share, whereas declaring dividends of $0.39 per frequent share.

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

Excessive-Yield Month-to-month Dividend Inventory #5: Ellington Credit score Co. (EARN)

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 companies or enterprises, whereas non-agency MBS are not assured by the federal government.

Supply: Investor Presentation

On November twelfth, 2024, Ellington Residential reported its third quarter outcomes for the interval ending September thirtieth, 2024. The corporate generated web revenue of $5.4 million, or $0.21 per share.

Ellington achieved adjusted distributable earnings of $7.2 million within the quarter, resulting in adjusted earnings of $0.28 per share, which lined the dividend paid within the interval.

Internet curiosity margin was 5.22% general. At quarter finish, Ellington had $25.7 million of money and money equivalents, and $96 million of different unencumbered belongings.

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

Excessive-Yield Month-to-month Dividend Inventory #4: ARMOUR Residential REIT (ARR)

ARMOUR Residential invests in residential mortgage-backed securities that embrace U.S. Authorities-sponsored entities (GSE) comparable to 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 residence 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 forms of investments.

Supply: Investor presentation

On October 23, 2024, ARMOUR Residential REIT introduced its unaudited third-quarter 2024 monetary outcomes, reporting a GAAP web revenue out there to frequent stockholders of $62.9 million, or $1.21 per frequent share. The corporate generated a web curiosity revenue of $1.8 million and distributable earnings of $52.0 million, equal to $1.00 per frequent share.

ARMOUR achieved a median curiosity revenue of 4.89% on interest-earning belongings and an curiosity value of 5.51% on common interest-bearing liabilities. The financial web curiosity unfold stood at 2.00%, calculated from an financial curiosity revenue of 4.44% minus an financial curiosity expense of two.44%.

In the course of the quarter, ARMOUR raised $129.4 million by issuing 6,413,735 shares of frequent inventory by an at-the-market providing program and paid frequent inventory dividends of $0.72 per share for Q3.

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

Excessive-Yield Month-to-month Dividend Inventory #3: 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 securities, collateralized mortgage obligations (or CMO), and non–company MBS. Many of those are assured by authorities–sponsored enterprises.

Supply: Investor Presentation

AGNC Funding Corp. reported sturdy monetary outcomes for the third quarter ended September 30, 2024. The corporate achieved a complete revenue of $0.63 per frequent share, pushed by a web revenue of $0.39 and different complete revenue of $0.24 from marked-to-market investments.

Internet unfold and greenback roll revenue contributed $0.43 per share. The tangible web e-book worth elevated by $0.42 per share to $8.82, reflecting a 5.0% progress from the earlier quarter.

AGNC declared dividends of $0.36 per share, leading to a 9.3% financial return on tangible frequent fairness, which incorporates each dividends and the rise in web e-book worth.

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

Excessive-Yield Month-to-month Dividend Inventory #2: Oxford Sq. Capital (OXSQ)

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

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

Supply: Investor Presentation

On November fifth, 2024, Oxford Sq. reported its Q3 outcomes for the interval ending September thirtieth, 2024. For the quarter, the corporate generated about $10.3 million of complete funding revenue, down from $11.4 million within the earlier quarter.

This was attributable to decrease curiosity revenue from its debt investments and decrease revenue from its securitization automobiles.

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

Nonetheless, the weighted common money distribution yield of the corporate’s money revenue producing CLO fairness investments at present rose notably from 13.7% to 14.5%.

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

Excessive-Yield Month-to-month Dividend Inventory #1: Orchid Island Capital (ORC)

Orchid Island Capital, Inc. is a mortgage REIT that invests in residential mortgage-backed securities (RMBS), together with pass-through and structured company RMBSs.

These monetary devices generate money circulation primarily based on residential loans comparable to mortgages, subprime, and home-equity loans.

Supply: Investor Presentation

The corporate reported a web revenue of $17.3 million, or $0.24 per frequent share, considerably enhancing from a web lack of $80.1 million in the identical quarter final 12 months. This web revenue comprised $0.3 million in web curiosity revenue and $4.3 million in complete bills.

Moreover, Orchid recorded web realized and unrealized beneficial properties of $21.2 million, or $0.29 per frequent share, from Residential Mortgage-Backed Securities (RMBS) and spinoff devices, together with rate of interest swaps.

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

Ultimate 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 12 months, as an alternative of the standard 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 threat elements of every firm.

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

Additional Studying

In case you are concerned about discovering high-quality dividend progress shares and/or different high-yield securities and revenue securities, the next Positive Dividend sources will likely be helpful:

Month-to-month Dividend Inventory Particular person Safety Analysis

Different Positive Dividend Assets