First Published on August 17th, 2022 by Bob Ciura for SureDividend.
Monthly dividend stocks have instant appeal for many income investors. Stocks that pay their dividends each month offer more frequent payouts than traditional quarterly or semi-annual dividend payers.
For this reason, we created a full list of 49 monthly dividend stocks.
You can download our full Excel spreadsheet of all monthly dividend stocks(along with metrics that matter like dividend yield and payout ratio) by clicking on the link below:
Click here to download your free spreadsheet of all 49 monthly dividend stocks now.
In addition, stocks that have high dividend yields are also attractive for income investors.
With the average S&P 500 yield hovering around 1.5%, investors can generate much more income with high-yield stocks.
Screening for monthly dividend stocks that also have high dividend yields makes for an appealing combination.
This article will list the 20 highest-yielding monthly dividend stocks.
Table Of Contents
The following 20 monthly dividend stocks have high dividend yields above 5%. Stocks are listed by their dividend yields, from lowest to highest.
You can instantly jump to an individual section of the article by utilizing the links below:
- •High-Yield Monthly Dividend Stock #20: Gladstone Capital Corp. (GLAD)
- •High-Yield Monthly Dividend Stock #19: Cross Timbers Royalty Trust (CRT)
- •High-Yield Monthly Dividend Stock #18: Stellus Capital Investment (SCM)
- •High-Yield Monthly Dividend Stock #17: San Juan Basin Royalty Trust (SJT)
- •High-Yield Monthly Dividend Stock #16: Horizon Technology (HRZN)
- •High-Yield Monthly Dividend Stock #15: Prospect Capital (PSEC)
- •High-Yield Monthly Dividend Stock #14: PennantPark Floating Rate (PFLT)
- •High-Yield Monthly Dividend Stock #13: Permianville Royalty Trust (PVL)
- •High-Yield Monthly Dividend Stock #12: Dynex Capital (DX)
- •High-Yield Monthly Dividend Stock #11: PermRock Royalty Trust (PRT)
- •High-Yield Monthly Dividend Stock #10 Sabine Royalty Trust (SBR)
- •High-Yield Monthly Dividend Stock #9: SLR Investment Corp. (SLRC)
- •High-Yield Monthly Dividend Stock #8: Oxford Square Capital (OXSQ)
- •High-Yield Monthly Dividend Stock #7: Generation Income Properties (GIPR)
- •High-Yield Monthly Dividend Stock #6: Ellington Residential Mortgage REIT (EARN)
- •High-Yield Monthly Dividend Stock #5: AGNC Investment Corporation (AGNC)
- •High-Yield Monthly Dividend Stock #4: Ellington Financial (EFC)
- •High-Yield Monthly Dividend Stock #3: Broadmark Realty Capital (BMRK)
- •High-Yield Monthly Dividend Stock #2: ARMOUR Residential REIT (ARR)
- •High-Yield Monthly Dividend Stock #1: Orchid Island Capital (ORC)
High-Yield Monthly Dividend Stock #20: Gladstone Capital Corp. (GLAD)
- •Dividend Yield: 7.5%
Gladstone Capital is a business development company, or BDC, that primarily invests in small and medium businesses. These investments are made via a variety of equity (10% of portfolio) and debt instruments (90% of portfolio), generally with very high yields. Loan size is typically in the $7 million to $30 million range and has terms up to seven years. The BDC’s stated purpose is to generate income it can distribute to its shareholders.
Gladstone reported third quarter earnings on July 27th, 2022, and results were largely in line with expectations. Total investment income was $13.78 million, up fractionally year-over-year. Net investment income was 20.25 cents per share, up from 19.5 cents in the year-ago period.
Total investments at the end of the period rose 9.1% quarter-over-quarter to $586 million, following strong originations in the third quarter. Net asset value was $9.12 per share, down 3.9% from the March quarter, driven by valuation adjustments associated with higher market yields and reduced equity valuation multiples.
Click here to download our most recent Sure Analysis report on GLAD (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #19: Cross Timbers Royalty Trust (CRT)
- •Dividend Yield: 7.6%
Cross Timbers is an oil and gas trust (about 50/50), set up in 1991 by XTO Energy. Unit holders have a 90% net profit interest in producing properties in Texas, Oklahoma, and New Mexico; and a 75% net profit interest in working interest properties in Texas and Oklahoma.
The trust’s assets are static in that no further properties can be added. The trust has no operations but is merely a pass–through vehicle for the royalties.CRT had royalty income of $5.3 million in 2020 and $7.4 million in 2021.
In mid-May, CRT reported (5/13/22) financial results for the first quarter of fiscal 2022. Production of gas plunged -43% due to timing of sales but production of oil more than tripled for the same reason. Moreover, the average realized prices of oil and gas grew 37% and 78%, respectively, thanks to the sanctions of western countries on Russia, which have sent the benchmark prices of oil and gas to 13-year highs. As a result, distributable cash flow (DCF) per unit grew 65%, from $0.17 to $0.28.
Click here to download our most recent Sure Analysis report on CRT (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #18: Stellus Capital (SCM)
- •Dividend Yield: 8.0%
Stellus Capital Management is a Business Development Company, otherwise known as a BDC, that provides capital solutions to companies with $5 million to $50 million of EBITDA and does so with a variety of instruments, the majority of which are debt.
Related: Sure Dividend’s free BDC list.
Stellus provides first lien, second lien, mezzanine, convertible debt, and equity investments to a diverse group of customers, generally at high yields, in the US and Canada.
Source: Investor Presentation
The company was formed in 2012, and should produce about $67 million in annual revenue. In the second quarter of 2022, total investment income of $16.1 million rose 6.7% year-over-year, but missed estimates by about $280,000. Net investment income of $0.32 per share beat estimates by $0.03.
Click here to download our most recent Sure Analysis report on SCM (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #17: San Juan Basin Royalty Trust (SJT)
- •Dividend Yield: 8.3%
San Juan Basin Royalty Trust is a medium sized gas trust (it produces anegligible amount of oil), set up by Southland Royalty Company. The producing properties are all in northern New Mexico, in the San Juan Basin.They are currently operated by Hilcorp San Juan, L.P., which acquired the interests in 2017.
The trust’s assets are static in that no further properties can be added. The trust has no operations, but is merely a pass–through vehicle for the royalties. SJT had royalty income of $37.6 million in 2020.
In mid-May, SJT reported (5/16/2022) financial results for the first quarter of fiscal 2022. Thanks to the impressive rally of the price of natural gas, which has resulted mostly from sanctions of the U.S. and Europe on Russia for its invasion in Ukraine, distributable income per unit grew from $0.166 in last year’s quarter to $0.308. Moreover, the sanctions are unlikely to be withdrawn this year and hence SJT will keep thriving in the short run.
Click here to download our most recent Sure Analysis report on SJT (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #16: Horizon Technology (HRZN)
- •Dividend Yield: 8.7%
Horizon Technology Finance Corp. is a BDC that provides venture capital to small and medium–sized companies in the technology, life sciences, and healthcare–IT sectors.
Source: Investor Presentation
The company has generated attractive risk–adjusted returns through directly originated senior secured loans and additional capital appreciation through warrants, featuring a last–nine–month annualized portfolio yield of 14.7%.
The company has exceeded the typical industry average IRR of around 10% from its loan coupons by engaging in commitment fees, guidance fees, and potential equity rights, maximizing its total yield. Horizon Technology hasgross investment income of around $47 million annually.
On August 2nd, 2022, Horizon released its Q2 results for the period ending June 30th, 2022. Total investment income grew 37.8% year-over-year to $18.6 million primarily due to growth in interest income on investments resulting from an increase in the average size of the debt investment portfolio. Net investment income per share (ISS) rose to $0.35, four cents higher compared to Q2-2022. This was due to a 35.2% increase in total expenses, which was lower than the top line’s growth. Net asset value (NAV) per share landed at $11.69, a cent higher sequentially.
Click here to download our most recent Sure Analysis report on HRZN (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #15: Prospect Capital (PSEC)
- •Dividend Yield: 8.8%
Prospect Capital Corporation is BDC that provides private debt and private equity to middle–market companies in the U.S. The company focuses on direct lending to owner–operated companies, as well as sponsor–backed transactions.
Prospect invests primarily in first and second lien senior loans and mezzanine debt, with occasional equity investments. The company produces about $680 million in annual revenue.
Source: Investor Presentation
Prospect reported third quarter earnings on May 9th, 2022 with results coming in better than expected on both revenue and profits. Net investment income, or NII, came to 22 cents per share, beating estimates by four cents. Total investment income was $181 million, up 14% year-over-year and almost $11 billion better than expected.
NII per share was up from 19 cents in the year-ago period, and net asset value was up to $10.81 per share from $9.38 a year ago. Operating expenses were $94.4 million, up from $86.1 million in last year’s Q1, helping to drive the earnings beat.
Click here to download our most recent Sure Analysis report on PSEC (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #14: PennantPark Floating Rate (PFLT)
- •Dividend Yield: 9.2%
PennantPark Floating Rate Capital Ltd. is a BDC that makes secondary direct, debt, equity, and loan investments.
The fund also aims to invest through floating rate loans in private or thinly traded or small–cap, public middle market companies, equity securities, preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.
Source: Investor Presentation
It generally invests in the United States and to a limited extent non–U.S. companies. It aims to invest in companies not rated by national rating agencies.
PennantPark Floating Rate reported third quarter earnings on August 3rd, 2022. Total investment income for the quarter came in at $25.7 million, up from $20.9 million in the year-ago quarter. Adjusted net asset value per share stood at $12.02. Moreover, the company invested $104.8 million during the quarter in six new and thirty-nine existing portfolio companies with a weighted average yield on debt investments of 8.1%.
That said, the company’s sales and repayments of investments for the same period totaled $55.0 million. Cash and cash equivalents at quarter end stood at $40.6 million. Meanwhile, FQ3 net investment income increased to $0.29 from $0.27 in the year-ago period.
Finally, PennantPark’s portfolio totaled $1,226.4 million, which includes $1,062.4 million of first lien secured debt, and $163.4 million of preferred and common equity. Revenue increased 23.1% to $25.73 million year-over-year.
Click here to download our most recent Sure Analysis report on PFLT (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #13: Permianville Royalty Trust (PVL)
- •Dividend Yield: 9.4%
Permianville Royalty Trust is an oil and natural gas royalty trust. It owns a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from various oil and gas properties located in Texas, Louisiana, and New Mexico.
The company was formerly known as Enduro Royalty Trust and changed its name to Permianville Royalty Trust in September 2018. As oil and gas royalty trusts are closely correlated to oil and gas prices, royalty trusts like PVL are essentially a bet on commodity prices.
High-Yield Monthly Dividend Stock #12: Dynex Capital (DX)
- •Dividend Yield: 9.5%
Dynex Capital invests in mortgage–backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non–agency MBS consisting of residential MBS, commercial MBS (CMBS), and CMBS interest–only securities.
Source: Investor Presentation
Agency MBS have a guaranty of principal payment by an agency of the U.S. government or a U.S. government–sponsored entity, such as Fannie Mae and Freddie Mac. Non–Agency MBS have no such guaranty of payment.
The trust reported second-quarter results on July 25th, 2022. Dynex Capital reported a comprehensive loss of $(0.85) per common share in Q2. Net interest income decreased 42.1% year-over-year to $14.07 million. Negative total economic return stood at $(1.06) while book value per share decreased by $(1.45) to $16.79.
Earnings available for distribution came in at $0.40 per common share. Meanwhile, net interest spread and adjusted net interest spread stood 1.50% and 1.84%, respectively. The trust also reported 6.6x in leverage as of June 30, 2022 from 6.1x as of March 31, 2022.
Click here to download our most recent Sure Analysis report on DX (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #11: PermRock Royalty Trust (PRT)
- •Dividend Yield: 9.7%
PermRock Royalty Trust is a trust formed in November 2017 by Boaz Energy, a company that is focused on the acquisition, development and operation of oil and natural gas properties in the Permian Basin. The Trust derives all its cash flows from profits from the sale of oil and natural gas production from these properties and distributes dividends monthly.
The trust reported first quarter 2022 results for the period ending March 31st. Net profits income received by the trust was $2.79 million for the quarter, compared to $1.29 million in Q1 2021. Significant increases in oil and natural gas sales volumes and prices led to a massive year-over-year improvement.
The average realized sale price of oil ($/Bbl) was $76.02 during the quarter, a 73% increase compared to the price of $44.03 in the prior year period. The average realized sale price of natural gas also shot up massively, from $2.93to $7.14 per Mcf.
Distributable income for the trust came to $2.53 million, up from $1.05 million in Q1 2021. Distributable income per unit of $0.21 was up from $0.09 in the prior year period. The trust paid out all distributable income to shareholders as distributions, for a payout ratio of 100%.
Total cash reserves as of March 31st, 2022 were $1 million, identical to the end of 2021. The trust did not miss a distribution payment in 2021.
Click here to download our most recent Sure Analysis report on PRT (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #10: Sabine Royalty Trust (SBR)
- •Dividend Yield: 10.1%
Sabine Royalty Trust is an oil and gas trust set up in 1983 by Sabine Corporation. At initiation, the trust had an expected reserve life of 9 to 10 years; the current estimated life of the trust is 8 to 10 years.
The trust consists of royalty and mineral interests in producing properties and proved oil and gas properties in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. It is roughly 2/3 oil and 1/3 gas in terms of revenues.
The trust’s assets are static in that no further properties can be added. The trust has no operations but is merely a pass-through vehicle for royalties. SBR had royalty income of $60.9 million in 2021.
In mid-May, SBR reported (5/12/22) financial results for the first quarter of fiscal 2022. Oil Production edged up 2% over the prior year’s quarter while production of gas grew 50%. In addition, the average realized prices of oil and gas grew 68% and 119%, respectively, thanks to the sanctions of western countries on Russia, which have led to a rally of oil and gas prices to 13-year highs.
As a result, distributable cash flow per unit more than doubled, from $0.61 to $1.58. Moreover, the sanctions on Russia are not likely to be withdrawn anytime soon. As a result, SBR is likely to post 10-year high distributable cash flow per unit this year.
Click here to download our most recent Sure Analysis report on SBR (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #9: SLR Investment Corp. (SLRC)
- •Dividend Yield: 10.5%
SLRC is a Business Development Company that primarily invests in U.S. middle market companies. The company has five core business units which include cash flow, asset-based, life science lending, equipment finance, and corporate leasing.
The trust’s debt investments primarily consist of cash flow senior secured loans, including first lien and second lien debt instruments. It also offers asset-based loans including senior secured loans collateralized on a first lien basis by current assets.
On August 2nd, 2022, SLR Investment Corp. reported its Q2-2022 results for the period ending March 31st, 2022. For the quarter, total investment income totaled $42.8 million, 20.2% higher year-over-year. The increase was primarily due to a larger portfolio. Expenses totaled $22.5 million, 15.4% higher compared to last year.
The relatively lower increase in expenses was primarily due to the reduction in incentive fees related to the merger with SUNS. Net investment income for the quarter totaled $20.3 million or $0.37 on a per share basis. This compared with a net investment income of $14.8 million, or $0.35 on a per share basis.
Click here to download our most recent Sure Analysis report on SLRC (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #8: Oxford Square Capital (OXSQ)
- •Dividend Yield: 10.5%
Oxford Square Capital Corp. is a BDC specializing in financing early and middle–stage businesses through loans and CLOs.
The company holds an equally split portfolio of First–Lien, Second–Lien, and CLO equity assets spread across 8 industries, with the highest exposure in business services and healthcare, at 36% and 25%, respectively.
On July 26th, Oxford Square reported its Q2 results for the period ending June 30th, 2022. The company generated
approximately $9.9 million of total investment income, stable from the previous quarter. While the weighted average yield of the debt investments came in at 9.0% at the current cost, compared to 8.0% during Q1-2022, the increase was offset by a lower cash distribution yield from OXSQ’s CLO equity investments, which declined from 23.8% to 20.7% sequentially.
Total expenses, which primarily include interest paid on its own financing and managers’ fees, amounted to $5.6 million, also stable against Q1-2022. As a result of stable total investment income and expenses, NII (the net investment income) amounted to $4.3 million, or $0.09/share, remaining unchanged sequentially. Net asset value (NAV) per share was $3.67 compared to $4.65 last quarter.
Click here to download our most recent Sure Analysis report on OXSQ (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #7: Generation Income Properties (GIPR)
- •Dividend Yield: 11.0%
Generation Income Properties is an internally managed REIT focused on acquiring and managing income-producing retail, office, and industrial properties. As of March 31st, 2022, the company’s asset base portfolio included 12 properties, comprising one industrial, seven retail (including one medical-retail), and four office properties, which are net leased to high-quality tenants in major markets throughout the United States.
Source: Investor Presentation
These properties feature 322,854 leasable square feet and an annualized base rent of $4.9 million. The trust also owned a 36.8% tenancy in common interest in a single tenant retail building (approximately 15,300 square feet) leased to La-ZBoy Company. The trust generated $3.9 million in rental revenues last year and is based in Tampa, Florida.
On May 12th, 2022, Generation Income Properties reported its Q1 results for the period ending March 31st, 2022. Total revenues from operations came in at $1.2 million as compared to $937 thousand in the prior-year period. This represents a year-over-year increase of 26%, which was driven primarily by the acquisition of properties the company executed over the past four quarters.
Core AFFO came in at $0.04 per share, lower from last year’s $0.21 per share. At the end of the quarter, 100% of the company’s portfolio was leased, with all rents due collected.
Click here to download our most recent Sure Analysis report on GIPR (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #6: Ellington Residential Mortgage REIT (EARN)
- •Dividend Yield: 11.0%
Ellington Residential Mortgage REIT acquires, invests in, and manages residential mortgage and real estate related assets. Ellington focuses primarily on residential mortgage-backed securities, specifically those backed by a U.S. Government agency or U.S. government–sponsored enterprise.
Ellington Residential Mortgage REIT is externally managed by Ellington Residential Mortgage Management LLC. The mortgage REIT has an agency residential mortgage–backed securities (RMBS) portfolio of $1.2 billion and a non–agency RMBS portfolio of $9.1 million. Agency MBS are created andbacked by government agencies or enterprises, while non-agency MBS arenot guaranteed by the government.
On May 2nd, 2022, Ellington Residential reported its Q1 results for the period ending March 31st, 2022. The company booked a $(1.33) net loss per share for Q1. Core earnings of $3.9 million this quarter led to core EPS of $0.30 per share, which covers the dividend paid in the period.
EARN achieved a net interest margin of 1.76% in Q1. At quarter end, Ellington had $29.9 million of cash, cash equivalents, and other liquidity, and $11.3 million of other unencumbered assets. The debt-to-equity ratio was 9.1x. Book value per share declined from the prior quarter to $10.14, a 14% decrease.
Click here to download our most recent Sure Analysis report on EARN (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #5: AGNC Investment Corporation (AGNC)
- •Dividend Yield: 11.3%
American Capital Agency Corp is a mortgage real estate investment trust that invests primarily in agency mortgage–backed securities (or MBS) on a leveraged basis.
The firm’s asset portfolio is comprised of residential mortgage pass–through securities, collateralized mortgage obligations (or CMO), and non–agency MBS. Many of these are guaranteed by government–sponsored enterprises.
The majority of American Capital’s investments are fixed–rate agency MBS. Most of these are MBS with a 30–year maturity period. American Capital derives nearly all its revenue in the form of interest income.
You can see an overview of the company’s second-quarter report in the image below:
Source: Investor Presentation
Click here to download our most recent Sure Analysis report on AGNC (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #4: Ellington Financial (EFC)
- •Dividend Yield: 11.5%
Ellington Financial Inc. acquires and manages mortgage, consumer, corporate, and other related financial assets in the United States. The company acquires and manages residential mortgage–backed securities (RMBS) backed by prime jumbo, Alt–A, manufactured housing, and subprime residential mortgage loans.
Additionally, it manages RMBS, for which the U.S. government guarantees the principal and interest payments. It also provides collateralized loan obligations, mortgage–related and non–mortgage–related derivatives, equity investments in mortgage originators and other strategic investments.
On August 4th, 2022, Ellington Financial reported its Q2 results for the period ending June 30th, 2022. Interest income came in at $51.6 million, a 20% higher quarter-over-quarter. Adjusted (previously referred to as “core”) earnings-per-share came in at $0.41, one cent higher versus Q2-2021, affected by increased expenses and a higher share count. Most of the growth this past quarter is a direct result of higher loan origination activity and robust performance from Ellington’s small balance commercial mortgage loans, residential transition loans, and consumer loans.
Specifically, Ellington’s total long credit portfolio grew by 16% to $2.66 billion sequentially. Ellington’s book value per share declined from $17.74 to $16.22 during the last three months, with its dividend exceeding the underlying earnings. The monthly dividend remains at $0.15, nonetheless. Management commented that dividend coverage should resume once the company rotates the portfolio into the higher reinvestment yields available today.
Click here to download our most recent Sure Analysis report on EFC (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #3: Broadmark Realty Capital (BRMK)
- •Dividend Yield: 12.0%
Broadmark Realty Capital Inc. is a real estate investment trust that provides short-term, first deed of trust loans that are secured by real estate. Customers use these loans to acquire, renovate, rehab and develop properties for both residential and commercial uses in the U.S. Broadmark Realty formed in 2010, but had its initial public offering in November 2019.
Source: Investor Presentation
On May 9th, 2022, Broadmark Realty reported first quarter results for the period ending March 31st, 2022. For the quarter, revenue grew 1.4% to $29.87 million, which was $2.2 million lower than expected. Adjusted earnings per share of $0.17 compared unfavorably to adjusted earnings per share of $0.18 in the prior period and was $0.02 below estimates.
Broadmark Realty originated $189.6 million of new loans and amendments for the quarter. First quarter origination was a 24% decrease sequentially and at a weighted average loan to value of 61.8%. Quarterly interest income totaled $24.1 million and fee income was $5.8 million. The total portfolio consisted of $1.6 billion of loans across 20 states and the District of Columbia.
As of March 31st, 2022, Broadmark Realty had a total of $187.8 million of loans in contractual default. The trust resolved $36 million of loans in contractual default during the quarter. Provisions for credit losses totaled $1.75 million compared to $2.71 million in the first quarter of 2021.
Click here to download our most recent Sure Analysis report on BRMK (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #2: ARMOUR Residential REIT (ARR)
- •Dividend Yield: 16.0%
ARMOUR is a mortgage REIT that invests primarily in residential mortgage–backed securities that are guaranteed or issued by a United Statesgovernment entity including Fannie Mae, Freddie Mac and Ginnie Mae.
ARMOUR reported Q1 results on April 27th, 2022. The trust’s net interest income stood at $30.9 million. Liquidity including cash and unencumbered securities amounted to $628.3 million with $8.48 in book value per common share at quarter end. Q1 distributable earnings per share stood at 28 cents while the debt-to-equity ratio stood at 6.3-to-1 and leverage, including TBA Securities stood at 7.0-1.
Source: Investor Presentation
Meanwhile, net interest margin increased to 1.78%, up 3 basis points quarter-over-quarter. Portfolio composition was 85% agency mortgage-backed securities, including TBA securities. Comprehensive loss stood at $(148) million, representing (60%) annualized return based on stockholder’s equity at the beginning of the quarter.
Finally, interest rate swap contracts amounted to $7.4 billion which represents 103% of total repurchase agreement and TBA Securities liabilities.
Click here to download our most recent Sure Analysis report on ARR (preview of page 1 of 3 shown below):
High-Yield Monthly Dividend Stock #1: Orchid Island Capital (ORC)
- •Dividend Yield: 16.6%
Orchid Island Capital, Inc. is a mortgage REIT. As such, Orchid Island does not own any physical properties.
Instead, it is an externally managed REIT (by Bimini Advisors LLC) that invests in residential mortgage–backed securities (RMBS), either pass–through or structured agency RMBSs. These are financial instruments that collect cash flow based on residential loans such as mortgages, including subprime, and home–equity loans.
On August 4th, 2022 Orchid Island Capital reported Q2 results. The company reported a Q2 net loss of $60.1 million. Net interest income decreased to $27.1 million from $27.7 million year-over-year. Total expenses stood at $4.9 million. Moreover, net realized and unrealized losses stood at $82.3 million on RMBS and derivative instruments, including net interest expense on interest rate swaps.
Meanwhile, Q2 total return stood at (10.0%) while book value per common share stood at $2.87. Revenue, increased 26.0% year-over-year. Finally, Orchid Island Capital had $0.135 per common share of total dividends declared and paid in Q2.
ORC recently cut its dividend by 18%, although the stock still yields 17.8%.
Click here to download our most recent Sure Analysis report on ORC (preview of page 1 of 3 shown below):
Final Thoughts
Monthly dividend stocks could be more appealing to income investors than quarterly or semi-annual dividend stocks. This is because monthly dividend stocks make 12 dividend payments per year, instead of the usual 4 or 2.
Furthermore, monthly dividend stocks with high yields above 5% are even more attractive for income investors.
The 20 stocks on this list have not been vetted for dividend safety, meaning each investor should understand the unique risk factors of each company.
That said, these 20 dividend stocks make monthly payments to shareholders, and all have high dividend yields.
This article was first published by Bob Ciura for Sure Dividend
Sure dividend helps individual investors build high-quality dividend growth portfolios for the long run. The goal is financial freedom through an investment portfolio that pays rising dividend income over time. To this end, Sure Dividend provides a great deal of free information.
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