Revealed on February ninth, 2026 by Bob Ciura
Month-to-month dividend shares have immediate attraction for a lot of revenue traders.
Shares that pay their dividends every month supply extra frequent payouts than conventional quarterly or semi-annual dividend payers.
For that reason, we created a full listing of over 100 month-to-month dividend shares.
You’ll be able to 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:
However whereas month-to-month dividend shares are engaging on the floor, not all can maintain their payouts. Revenue traders ought to attempt to keep away from dividend cuts or elimination as a lot as potential.
This text will focus on 10 purple flag month-to-month dividend shares that may very well be vulnerable to a dividend minimize sooner or later, notably in a recession.
The ten shares on this article all have Dividend Danger Scores of ‘D’ or ‘F’ (our lowest grades) within the Certain Evaluation Analysis Database, with payout ratios above 100%.
A payout ratio above 100% signifies the corporate isn’t producing sufficient underlying earnings to maintain the dividend payout. This leaves a excessive probability of a dividend minimize or elimination in some unspecified time in the future sooner or later.
The listing is sorted by dividend payout ratio, from lowest to highest.
Desk Of Contents
Shares are listed by their dividend yields, from lowest to highest.
You’ll be able to immediately soar to a person part of the article by using the hyperlinks beneath:
Pink Flag Month-to-month Dividend Inventory #10: Gladstone Funding Company (GAIN)
Gladstone Funding is a enterprise improvement firm (BDC) that focuses on US-based small- and medium-sized firms.
Industries which Gladstone Funding targets embrace aerospace & protection, oil & fuel, equipment, electronics, and media & communications. The corporate was based in 2005 and is headquartered in McLean, VA.
Gladstone Funding reported its second quarter (Q2 2025 ended September 30) earnings ends in November. The corporate generated whole funding revenue of $25.3 million through the quarter, which represented a 12% enhance year-over-year.
Gladstone Funding’s earnings-per-share totaled $0.24 through the fiscal second quarter, which was down from the earlier quarter’s stage.
Gladstone Funding‘s internet asset worth per share totaled $13.53 on a per-share foundation on the finish of the quarter, which was up in comparison with the NAV-per-share that the corporate reported on the finish of the earlier quarter.
Click on right here to obtain our most up-to-date Certain Evaluation report on GAIN (preview of web page 1 of three proven beneath):
Pink Flag Month-to-month Dividend Inventory #9: Horizon Expertise Finance Corp. (HRZN)
Horizon Expertise Finance Corp. is a BDC that gives enterprise capital to small and medium–sized firms within the know-how, life sciences, and healthcare–IT sectors.
The corporate has generated engaging danger–adjusted returns by way of instantly originated senior secured loans and extra capital appreciation by way of warrants.
Horizon Expertise Finance Corp. is a BDC that gives enterprise capital to small and medium–sized firms within the know-how, life sciences, and healthcare–IT sectors.
On October twenty eighth, 2025, Horizon introduced its Q3 outcomes. For the quarter, whole funding revenue rose 6.9% year-over-year to $26.3 million, pushed primarily by greater charge and curiosity revenue on investments from the debt portfolio.
The corporate’s dollar-weighted annualized yield on common debt investments in Q3 of 2025 and Q3 of 2024 was 18.6% and 15.9%, respectively.
Internet funding revenue per share (IIS) remained flat year-over-year at $0.32. Internet asset worth (NAV) per share improved to $7.12, up from $6.75 within the prior quarter, however this was down from $9.12 within the prior 12 months.
Horizon’s undistributed spillover revenue stood at $0.93 per share at quarter-end, sustaining a robust revenue cushion to assist future dividends.
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):
Pink Flag Month-to-month Dividend Inventory #8: Stellus Capital (SCM)
Stellus Capital Administration supplies capital options to firms with $5 million to $50 million of EBITDA and does so with quite a lot of devices, the vast majority of that are debt.
Stellus supplies first lien, second lien, mezzanine, convertible debt, and fairness investments to a various group of shoppers, typically at excessive yields, within the US and Canada.
Stellus posted third quarter earnings on November twelfth, 2025, and outcomes had been weak as soon as once more. Internet funding revenue was $9.1 million, down from $10.3 million a 12 months in the past. On a per-share foundation, NII fell from 39 cents to 32 cents.
Core internet funding revenue, which is an adjusted type of revenue, fell from $10.6 million to $9.7 million, or from 39 cents per share to 32 cents. Complete funding revenue, which is akin to income, was $26.28 million, down barely from $26.5 million a 12 months in the past.
Internet asset worth was down 16 cents per share, with eight cents of that attributable to dividend funds exceeding earnings, and eight cents to internet unrealized losses from two debt investments.
On the finish of the quarter the funding portfolio was $1.01 billion at honest worth throughout 115 firms, each up from $986 million and 112 firms, respectively, a 12 months earlier.
Click on right here to obtain our most up-to-date Certain Evaluation report on SCM (preview of web page 1 of three proven beneath):
Pink Flag Month-to-month Dividend Inventory #7: Freehold Royalties Ltd. (FRHLF)
Freehold Royalties is a Canadian vitality firm. It doesn’t personal upstream oil manufacturing services instantly. Reasonably it companions with operators, offering upfront money in return for a minimize of future oil and fuel manufacturing volumes.
Freehold at present has about 360 royalty companions and has publicity to greater than 7 million gross acres of land throughout the U.S. and Canada. Revenues are an almost 50/50 break up between the U.S. and Canada.
The corporate’s prime three manufacturing areas are the Midland and Eagle Ford basins within the U.S. together with Canadian heavy oil manufacturing within the province of Alberta.
On November thirteenth, 2025, Freehold Royalties reported its Q3 2025 outcomes. The corporate’s top-line revenues elevated lower than 1% to C$74 million versus the identical quarter of 2024.
This was a very disappointing outcome as the corporate spent considerably on M&A over the previous couple years and brought on a considerable amount of debt with out shifting the needle operationally. Earnings per share of 15 cents rose from 12 cents final 12 months, however we had anticipated an even bigger enhance.
The corporate made a large acquisition of Midland basin royalties in late 2024 that was supposed to assist bolster 2025 earnings, however falling oil costs have offset that power.
Money movement per share got here in at 36 cents CAD, which declined by a penny versus the prior 12 months.
Click on right here to obtain our most up-to-date Certain Evaluation report on FRHLF (preview of web page 1 of three proven beneath):
Pink Flag Month-to-month Dividend Inventory #6: Prospect Capital (PSEC)
Prospect Capital Company is a Enterprise Improvement Firm, or BDC, that gives non-public debt and personal fairness to center–market firms within the U.S.
The corporate focuses on direct lending to proprietor–operated firms, in addition to sponsor–backed transactions. Prospect invests primarily in first and second lien senior loans and mezzanine debt, with occasional fairness investments.
Prospect posted first quarter earnings on November sixth, 2025. Internet funding revenue was 17 cents per share, whereas whole funding revenue plummeted 20% year-over-year to $157.6 million. Whereas weak, these outcomes had been higher than feared.
The corporate continues to concentrate on rotating belongings into its core enterprise of first lien senior secured center market loans, whereas decreasing second lien loans. It additionally exited its subordinated notes portfolio, in addition to equity-linked belongings, together with actual property properties.
Complete originations had been $92 million, off from $271 million within the earlier quarter. Complete repayments had been $235 million, down from $445 million within the earlier quarter. That means internet originations of -$143 million for Q1, up from -$175 million within the prior quarter.
Complete investments at honest worth had been $6.51 billion, down from $6.67 billion within the prior quarter. Curiosity-bearing investments yielded 11.8%, off from 12.2% within the prior quarter.
Click on right here to obtain our most up-to-date Certain Evaluation report on PSEC (preview of web page 1 of three proven beneath):
Pink Flag Month-to-month Dividend Inventory #5: Oxford Sq. Capital (OXSQ)
Oxford Sq. Capital Corp. is a BDC (Enterprise Improvement Firm) specializing in financing early- and middle-stage companies by way of loans and investments in collateralized mortgage obligations.
On the finish of Q3, the overall honest worth of Oxford Sq.’s funding portfolio was about $260.5 million throughout its debt, CLO fairness, and fairness/different holdings, allotted about 54.5% to senior secured debt, 43.5% to CLO fairness, and roughly 2% to fairness or different investments. Final 12 months, the BDC generated roughly $42.7 million in whole funding revenue.
On November sixth, 2025, Oxford Sq. Capital reported its Q3. The corporate generated roughly $10.2 million in whole funding revenue, primarily flat in contrast with $10.3 million in Q3 2024, as decrease acknowledged curiosity revenue from debt investments offset greater PIK revenue and stronger contributions from securitization automobiles.
The weighted common yield on debt investments elevated barely to 14.6% from 14.5% a 12 months earlier. The weighted common yield on CLO fairness investments stood at 9.7%, modestly greater than 9.6% in Q3 2024.
Complete bills had been about $4.7 million, in contrast with $4.2 million within the prior-year interval, primarily reflecting greater curiosity expense tied to the corporate’s excellent unsecured notes.
Internet funding revenue (NII) got here in at $5.6 million, or $0.07 per share, versus $6.2 million, or $0.10 per share, in Q3 2024.
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):
Pink Flag Month-to-month Dividend Inventory #4: Gladstone Land Corp. (LAND)
Gladstone Land Company is a REIT that focuses on the proudly owning and working of farmland within the U.S.
The belief owns about 160 farms, comprising greater than 100,000 acres of farmable land. Gladstone’s enterprise is made up of three totally different choices obtainable to farmers, all of that are achieved on a triple-net foundation.
The belief affords long-term sale leaseback transactions, conventional leases of farmland, and outright purchases of farm properties. Gladstone’s portfolio has an appraised worth of over $1.5 billion.
Gladstone posted third quarter earnings on November sixth, 2025, and outcomes had been higher than anticipated on each the highest and backside traces.
Funds-from-operations got here to 4 cents, which was significantly better than the breakeven anticipated by analysts. Income was off 21% year-over-year to $17.79 million, however that was nearly $3 million higher than estimated.
The decline in income and earnings was resulting from lease construction adjustments, lack of income from asset gross sales, and ongoing tenant points. Administration famous mounted base money rents had been $5.4 million decrease than the year-ago interval, primarily resulting from lease modifications.
Participation rents had been up $1.9 million, pushed by earlier recognition of 2024 harvest funds and stronger pistachio pricing.
Core working bills fell by about $140k and associated celebration charges fell by $110k. Recurring money working bills had been flat.
Click on right here to obtain our most up-to-date Certain Evaluation report on LAND (preview of web page 1 of three proven beneath):
Pink Flag Month-to-month Dividend Inventory #3: Supply Rock Royalties Ltd. (SRRRF)
Supply Rock Royalties, is a pure-play oil and fuel royalty firm targeted on buying high-netback pursuits throughout the Western Canadian Sedimentary Basin.
Working a capital-light, non-operating mannequin, the corporate generates top-line income by way of Gross Overriding Royalties (GORR), that are contractual slices of manufacturing from third-party working pursuits, and Charge Title mineral pursuits, that are leased to operators for lessor royalties and signing bonuses.
Supply Rock’s portfolio is closely weighted (about 95%) towards mild and heavy oil manufacturing in southeast Saskatchewan and Alberta’s Clearwater play, with belongings operated by companions like Whitecap Sources and Rubellite Vitality.
Supply Rock was based in 2012 and headquartered in Calgary, Canada.
On December 1st, 2025, Supply Rock reported its Q3 outcomes. Royalty income declined 25% 12 months over 12 months to $1.1 million, reflecting a 12% lower in common day by day manufacturing and a 14% decline in realized oil costs.
Adjusted EBITDA fell 21% 12 months over 12 months to $1.0 million, or $0.02 per share, whereas FFO fell 13% to $0.9 million, or $0.02 per share, as decrease commodity pricing greater than offset reductions in administrative bills.
Internet revenue grew 12 months over 12 months, with whole complete revenue of $0.3 million, translating to $0.01 per share, supported by decrease depletion and share-based compensation prices.
Click on right here to obtain our most up-to-date Certain Evaluation report on SRRRF (preview of web page 1 of three proven beneath):
Pink Flag Month-to-month Dividend Inventory #2: 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, industrial MBS (CMBS), and CMBS curiosity–solely securities.
On October 20, 2025, Dynex Capital reported a complete financial return of 10.3% of starting guide worth, pushed by a $0.72 per-share enhance in guide worth and $0.51 per share in dividends declared for the quarter.
Ebook worth per widespread share rose to $12.67 at September 30, 2025. GAAP efficiency was robust, with complete revenue of $1.20 per widespread share and internet revenue of $1.09 per share, supported by greater internet curiosity revenue and favorable marks as Treasury yields fell and company mortgage spreads tightened.
The corporate continued to boost and deploy capital, issuing $254 million of widespread fairness internet through at-the-market packages and utilizing the proceeds to increase its extremely liquid, agency-focused portfolio.
Purchases included roughly $2.4 billion of Company RMBS and $464 million of Company CMBS through the quarter, reflecting administration’s choice for clear, readily valued belongings amid enhancing market technicals.
Click on right here to obtain our most up-to-date Certain Evaluation report on DX (preview of web page 1 of three proven beneath):
Pink Flag Month-to-month Dividend Inventory #1: Orchid Island Capital (ORC)
Orchid Island Capital is a mortgage REIT that’s externally managed by Bimini Advisors LLC and focuses on investing in residential mortgage-backed securities (RMBS), together with pass-through and structured company RMBSs.
These monetary devices generate money movement based mostly on residential loans equivalent to mortgages, subprime, and home-equity loans.
On October 23, 2025, Orchid Island Capital, Inc. reported estimated internet revenue of $0.53 per widespread share for Q3 2025, with guide worth per share estimated at $7.33 as of September 30, 2025.
The corporate declared a month-to-month dividend of $0.12 per share for October, retaining per its month-to-month payout technique.
The RMBS portfolio and derivatives portfolio advanced as the corporate remained targeted on company residential mortgage-backed securities paired with hedging methods.
Orchid Island highlighted that the funding backdrop stays engaging with enhancing spreads and prepayment danger manageable given the portfolio’s coupon distribution and hedges.
Prepayment exercise remained a focus, with administration noting the necessity for continued vigilance given greater coupon swimming pools and refinancing dynamics.
Click on right here to obtain our most up-to-date Certain Evaluation report on Orchid Island Capital, Inc. (ORC) (preview of web page 1 of three proven beneath):
Last Ideas
Month-to-month dividend shares may very well be extra interesting to revenue traders than quarterly or semi-annual dividend shares. It is because month-to-month dividend shares make 12 dividend funds per 12 months, as a substitute of the same old 4 or 2.
Nonetheless, traders also needs to be involved with the sustainability of an organization’s dividend. Some month-to-month dividend shares have unsustainable dividends, characterised by elevated dividend payout ratios above 100%.
In consequence, these 10 purple flag month-to-month dividend shares might minimize their dividends in some unspecified time in the future sooner or later, notably if a recession hits.
Additional Studying
If you’re concerned about discovering high-yield month-to-month dividend shares, the next Certain Dividend sources will probably be helpful:
Month-to-month Dividend Inventory Particular person Safety Analysis
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