Up to date on Might 2nd, 2025 by Bob Ciura
Spreadsheet knowledge up to date each day
Month-to-month dividend shares are securities that pay a dividend each month as an alternative of quarterly or yearly.
This analysis report focuses on all 76 particular person month-to-month paying securities. It consists of the next sources.
Useful resource #1: The Month-to-month Dividend Inventory Spreadsheet Checklist
This record accommodates essential metrics, together with: dividend yields, payout ratios, dividend development charges, 52-week highs and lows, betas, and extra.
Be aware: We try to keep up an correct record 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 record manually. If you understand of any shares that pay month-to-month dividends that aren’t on our record, please e mail [email protected].
Useful resource #2: The Month-to-month Dividend Shares In Focus Collection
The Month-to-month Dividend Shares In Focus collection 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 Shares
This analysis report analyzes the ten finest month-to-month dividend shares as ranked by anticipated whole 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
– Last ideas and different revenue investing sources
The Month-to-month Dividend Shares In Focus Collection
You may 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)
- Banco Bradesco S.A. (BBD)
- Diversified Royalty Corp. (BEVFF)
- Boston Pizza Royalties Revenue Fund (BPZZF)
- Bridgemarq Actual Property Providers (BREUF)
- BSR Actual Property Funding Belief (BSRTF)
- Canadian Condominium Properties REIT (CDPYF)
- ChemTrade Logistics Revenue Fund (CGIFF)
- Alternative Properties REIT (PPRQF)
- Cross Timbers Royalty Belief (CRT)
- CT Actual Property Funding Belief (CTRRF)
- SmartCentres Actual Property Funding Belief (CWYUF)
- Dream Workplace REIT (DRETF)
- Dream Industrial REIT (DREUF)
- Dynex Capital (DX)
- Ellington Residential Mortgage REIT (EARN)
- Ellington Monetary (EFC)
- EPR Properties (EPR)
- Alternate Revenue (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)
- Gladstone Capital Company (GLAD)
- Gladstone Business Company (GOOD)
- Gladstone Funding Company (GAIN)
- Gladstone Land Company (LAND)
- World Water Assets (GWRS)
- Granite Actual Property Funding Belief (GRP.U)
- Grupo Aval Acciones y Valores S.A. (AVAL)
- H&R Actual Property Funding Belief (HRUFF)
- Horizon Expertise Finance (HRZN)
- Itaú Unibanco (ITUB)
- The Keg Royalties Revenue Fund (KRIUF)
- LTC Properties (LTC)
- Sienna Senior Residing (LWSCF)
- Principal Road 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 & Improvement Corp. (PEYUF)
- Pine Cliff Power 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 Revenue (O)
- RioCan Actual Property Funding Belief (RIOCF)
- Richards Packaging Revenue Fund (RPKIF)
- Sabine Royalty Belief (SBR)
- Stellus Capital Funding Corp. (SCM)
- Savaria Corp. (SISXF)
- San Juan Basin Royalty Belief (SJT)
- Sir Royalty Revenue Fund (SIRZF)
- SL Inexperienced Realty Corp. (SLG)
- Whitecap Assets Inc. (SPGYF)
- Slate Grocery REIT (SRRTF)
- Stag Industrial (STAG)
- Timbercreek Monetary Corp. (TBCRF)
- Tamarack Valley Power (TNEYF)
- U.S. World Buyers (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 whole returns.
We at present cowl virtually all month-to-month dividend shares each quarter within the Certain Evaluation Analysis Database.
Use the desk beneath to rapidly leap to evaluation on any of the highest 10 finest month-to-month dividend shares as ranked by anticipated whole returns.
Desk of Contents
You may immediately leap to any particular part of the article by utilizing the hyperlinks beneath:
Month-to-month Dividend Inventory #10: STAG Industrial (STAG)
- 5-12 months Anticipated Complete Return: 12.1%
- Dividend Yield: 4.5%
STAG Industrial is an proprietor and operator of business actual property. It’s targeted on single-tenant industrial properties and has ~560 buildings throughout 41 states in the USA.
The main focus of this REIT on single-tenant properties may create larger danger in comparison with multi-tenant properties, as the previous are both absolutely occupied or utterly vacant.
Supply: Investor Presentation
In mid-February, STAG Industrial reported (2/12/25) monetary outcomes for the fourth quarter of fiscal 2024. Core FFO-per-share grew 5% over the prior yr’s quarter, from $0.58 to $0.61, exceeding the analysts’ consensus by $0.01, due to hikes in lease charges.
Web working revenue grew 9% over the prior yr’s quarter regardless that the occupancy charge dipped sequentially from 97.1% to 96.5%. Then again, curiosity expense elevated 25% year-on-year as a result of excessive rates of interest.
STAG expects core FFO per share of $2.46-$2.50 for 2025.
Click on right here to obtain our most up-to-date Certain Evaluation report on STAG Industrial Inc. (STAG) (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #9: PennantPark Floating Charge Capital (PFLT)
- 5-12 months Anticipated Complete Return: 12.2%
- Dividend Yield: 12.3%
PennantPark Floating Charge Capital Ltd. is a enterprise growth firm that seeks to make secondary direct, debt, fairness, and mortgage investments.
The fund additionally goals to take a position via floating charge loans in non-public or thinly traded or small market-cap, public center market firms, fairness securities, most well-liked inventory, frequent inventory, warrants or choices acquired in reference to debt investments or via direct investments.
PennantPark Floating Charge Capital (PFLT) reported its Q1 2025 outcomes on February 11, 2025, highlighting secure monetary efficiency and continued funding exercise.
For the quarter ended December 31, the corporate posted GAAP web funding revenue of $0.37 per share and core web funding revenue of $0.33 per share.
PFLT’s portfolio grew 11% from the earlier quarter to $2.2 billion, pushed by $607 million in investments throughout 11 new and 58 current portfolio firms at a weighted common yield of 10.3%.
Click on right here to obtain our most up-to-date Certain Evaluation report on PFLT (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #8: Dream Workplace REIT (DRETF)
- 5-12 months Anticipated Complete Return: 12.2%
- Dividend Yield: 6.5%
Dream Workplace REIT is a Toronto-focused workplace actual property funding belief that owns and manages a portfolio of 26 high-quality workplace properties totaling 4.8 million sq. toes of gross leasable space.
Most of its properties are concentrated in downtown Toronto, one of the vital institutional and supply-constrained workplace markets within the nation.
On February twentieth, 2025, Dream Workplace REIT posted its full yr 2024 outcomes for the yr ended December thirty first, 2024. Web rental revenue totaled about $74 million, up barely from 2023, pushed by larger web rents in downtown Toronto.
Similar property web working revenue grew by 2.1% to $70 million, as lease development helped offset the influence of decrease occupancy.
Dream Workplace accomplished about 710,000 sq. toes of leasing exercise throughout the yr. In Toronto downtown, new leases have been signed at common rents over 10% above expiring ranges, reflecting continued demand for high quality house.
Nonetheless, general in-place occupancy declined to 77.5%, with dedicated occupancy ending the yr at 81.1 %, as a result of recognized expiries and asset reclassifications.
Click on right here to obtain our most up-to-date Certain Evaluation report on DRETF (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #7: AGNC Funding Corp. (AGNC)
- 5-12 months Anticipated Complete Return: 12.4%
- Dividend Yield: 16.5%
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 move–via securities, collateralized mortgage obligations (or CMO), and non–company MBS. Many of those are assured by authorities–sponsored enterprises.
Within the fourth quarter of 2024, AGNC Funding Corp. reported a complete loss per frequent share of $0.99, a reversal from the excellent revenue of $0.93 per share recorded within the earlier quarter.
Regardless of this, the corporate achieved a constructive financial return of 13.2% for the total yr, pushed by its constant month-to-month dividend totaling $1.44 per frequent share.
The corporate’s web unfold and greenback roll revenue, excluding catch-up premium amortization, was $0.65 per frequent share for the quarter, down from $0.67 per share within the prior quarter.
AGNC’s tangible web e book worth per frequent share stood at $9.08 as of December 31, 2024, reflecting a lower from $9.84 on the finish of the third quarter.
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 #6: Orchid Island Capital (ORC)
- 5-12 months Anticipated Complete Return: 12.9%
- Dividend Yield: 20.7%
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 primarily based on residential loans comparable to mortgages, subprime, and home-equity loans.
Within the fourth quarter of 2024, Orchid Island Capital, Inc. reported a web revenue of $0.07 per share, a lower from $0.24 per share within the earlier quarter. The corporate’s e book worth declined from $8.40 on the finish of the third quarter to $8.09 at year-end.
As of December 31, 2024, Orchid Island Capital’s portfolio consisted of roughly $4.2 billion in residential mortgage-backed securities (RMBS), with a web weighted common coupon of three.5%. The corporate’s leverage ratio stood at 8.1 occasions, reflecting its technique of using leverage to reinforce returns.
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):
Month-to-month Dividend Inventory #5: Grupo Aval Acciones y Valores S.A. (AVAL)
- 5-12 months Anticipated Complete Return: 13.4%
- Dividend Yield: 5.1%
Grupo Aval Acciones y Valores S.A. is a Colombian monetary holding firm. It’s the mother or father establishment of 4 totally different Colombian banks which, in combination, are the biggest banking entity within the nation as measured by deposits and gross loans.
Grupo Aval’s subsidiaries additionally management companies throughout verticals together with pensions and asset administration, funds, authorities finance, funding banking, and insurance coverage.
As well as, Aval has partial possession of a subsidiary which owns arduous property in Colombia together with toll roads, power and gasoline, agribusiness, and lodges.
The corporate reported its This autumn and full-year outcomes on February nineteenth. This autumn was sturdy, with the corporate’s web revenue tripling year-over-year, and EPS rising from 2 cents to six cents per share.
Loans grew 7% and deposits surged 10% whereas on the identical time, Aval noticed its danger metrics enhance, resulting in dramatic margin enlargement.
Click on right here to obtain our most up-to-date Certain Evaluation report on AVAL (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #4: Itau Unibanco (ITUB)
- 5-12 months Anticipated Complete Return: 15.5%
- Dividend Yield: 8.1%
Itaú Unibanco Holding S.A. is headquartered in Sao Paulo, Brazil. The financial institution has operations throughout South America and different locations like the USA, Portugal, Switzerland, China, Japan, and so on.
On February sixth, 2025, Itaú Unibanco reported fourth-quarter and full yr outcomes for 2024. The corporate reported recurring managerial consequence reached R$10.9 billion, up 2.0% from the earlier quarter, with a 22.1% return on fairness.
The mortgage portfolio grew 6.3% general and 5.8% in Brazil, pushed by mortgage (+5.6%), car financing (+1.8%), and bank card loans (+6.8%).
Small and medium-sized enterprise loans rose 8.1% as a result of overseas alternate results and authorities backed financing. Company lending elevated 6.8%.
Greater lending and an improved liabilities margin led to a 3.7% rise within the monetary margin with purchasers, whereas credit score prices rose 4.8%. Nonperforming loans over 90 days (NPL 90) improved to 2.4%, with related beneficial properties in short-term delinquency charges.
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 #3: Fortitude Gold Corp. (FTCO)
- 5-12 months Anticipated Complete Return: 16.0%
- Dividend Yield: 14.7%
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 higher.
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 February twenty fifth, 2025, Fortitude Gold launched its full-year 2024 outcomes for the interval ending December thirty first, 2024. For the yr, revenues got here in at $37.3 million, representing a 49% decline in comparison with 2023.
The lower in income was largely as a result of a 58% drop in gold gross sales quantity and a 22% lower in silver gross sales quantity. These declines have been partially offset by a 22% enhance in gold costs and an 18% enhance in silver costs.
Transferring to the underside line, the corporate reported a mine gross revenue of $18.3 million in comparison with $41.2 million the earlier yr, reflecting the decrease web gross sales.
Fortitude recorded a web lack of $2.0 million versus a web revenue of $17.0 million in 2023. On a per-share foundation, the corporate posted a web lack of $0.08 in comparison with web revenue of $0.71 per share within the prior yr.
Click on right here to obtain our most up-to-date Certain Evaluation report on FTCO (preview of web page 1 of three proven beneath):
Month-to-month Dividend Inventory #2: Horizon Expertise Finance (HRZN)
- 5-12 months Anticipated Complete Return: 19.2%
- Dividend Yield: 15.2%
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 via instantly originated senior secured loans and extra capital appreciation via warrants.
Supply: Investor Presentation
On March 4th, 2025, Horizon launched its This autumn and full-year outcomes for the interval ending December thirty first, 2024. For the quarter, whole funding revenue fell 16.7% year-over-year to $23.5 million, primarily as a result of decrease curiosity revenue on investments from the debt funding portfolio.
Extra particularly, the corporate’s dollar-weighted annualized yield on common debt investments in This autumn of 2024 and This autumn of 2023 was 14.9% and 16.8%, respectively.
Web funding revenue per share (IIS) fell to $0.27, down from $0.45 in comparison with This autumn-2023. Web asset worth (NAV) per share landed at $8.43, down from $9.06 sequentially.
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 #1: Ellington Credit score Co. (EARN)
- 5-12 months Anticipated Complete Return: 19.6%
- Dividend Yield: 17.5%
Ellington Credit score Co. acquires, invests in, and manages residential mortgage and actual property associated property. 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 March twelfth, 2025, Ellington Residential reported its fourth quarter outcomes for the interval ending December 31, 2024. The corporate generated a web lack of $(2.0) million, or $(0.07) per share.
Ellington achieved adjusted distributable earnings of $7.8 million within the quarter, resulting in adjusted earnings of $0.27 per share, which lined the dividend paid within the interval.
Ellington’s web curiosity margin was 5.07% general. At quarter finish, Ellington had $31.8 million of money and money equivalents, and $79 million of different unencumbered property.
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 sources beneath will provide you with a greater understanding of month-to-month dividend inventory investing.
The next analysis stories will assist you generate extra month-to-month dividend inventory funding concepts.
Month-to-month Dividend Inventory Efficiency
In April 2025, a basket of the month-to-month dividend shares above generated adverse returns of -1.9%. For comparability, the Russell 2000 ETF (IWM) generated adverse returns of -2.3% for the month.
Notes: Information for efficiency is from Ycharts. Canadian firm efficiency could also be within the firm’s house forex.
Month-to-month dividend shares out-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 April 2025, the three best-performing month-to-month dividend shares (together with dividends) have been:
- Itau Unibanco (ITUB), up 21.9%
- Financial institution Bradesco (BBD) , up 15.9%
- Timbercreek Monetary Corp. (TBCRF), up 14.5%
The three worst-performing month-to-month dividend shares (together with dividends) within the month have been:
- Fortitude Gold Corp. (FTCO), down 28.3%
- Cross Timbers Royalty Belief (CRT), down 20.9%
- Horizon Expertise Finance Corp. (HRZN), down 20.0%
Why Month-to-month Dividends Matter
Month-to-month dividend funds are helpful for one group of traders specifically; retirees who depend on dividend shares for revenue.
With that mentioned, month-to-month dividend shares are higher below all circumstances (every thing else being equal), as a result of they permit for returns to be compounded on a extra frequent foundation. Extra frequent compounding ends in higher whole returns, significantly over lengthy intervals of time.
Think about the next efficiency comparability:
Over the long term, month-to-month compounding generates barely larger 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 traders to have – on common – more money available to make opportunistic purchases. A month-to-month dividend fee is extra more likely to put money in your account if you want it versus a quarterly dividend.
Case-in-point: Buyers who purchased a broad basket of shares on the backside of the 2008-2009 monetary disaster are seemingly sitting on triple-digit whole returns from these purchases as we speak.
The Risks of Investing In Month-to-month Dividend Shares
Month-to-month dividend shares have traits that make them interesting to do-it-yourself traders searching for a gentle stream of revenue. Sometimes, these are retirees and other people planning for retirement.
Buyers ought to notice 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 considerations that many month-to-month dividend payers will be unable to proceed paying rising dividends within the occasion of a recession.
Moreover, a excessive payout ratio signifies that an organization is retaining little cash to take a position for future development. This will lead administration groups to aggressively leverage their stability sheet, fueling development with debt. Excessive debt and a excessive payout ratio is probably essentially 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 Revenue (O). Realty Revenue has paid growing dividends (on an annual foundation) yearly since 1994.
The Realty Revenue instance reveals that there are high-quality month-to-month dividend payers round, however they’re the exception slightly than the norm. We advise traders do ample due diligence earlier than shopping for into any month-to-month dividend payer.
Last Ideas & Different Revenue Investing Assets
Monetary freedom is achieved when your passive funding revenue exceeds your bills. However the sequence and timing of your passive revenue funding funds can matter.
Month-to-month funds make matching portfolio revenue 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 revenue funds with the conventional frequency of private bills.
Moreover, many month-to-month dividend payers provide traders excessive yields. The mixture of a month-to-month dividend fee and a excessive yield ought to be particularly interesting to revenue traders.
However not all month-to-month dividend payers provide the security that revenue traders want. A month-to-month dividend is healthier than a quarterly dividend, however not if that month-to-month dividend is diminished 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 danger ranges.
Due to this, we advise traders 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 sources beneath for extra compelling funding concepts for dividend development shares and/or high-yield funding securities.
Thanks for studying this text. Please ship any suggestions, corrections, or inquiries to [email protected].
