Up to date on March fifth, 2025 by Bob Ciura
Month-to-month dividend shares have on the spot attraction for a lot of revenue buyers. 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 record of ~80 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:
As well as, shares which have excessive dividend yields are additionally enticing for revenue buyers.
With the typical 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 record 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 record excludes oil and gasoline 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 record additionally solely contains U.S.-based firms.
You’ll be able to 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 February, LTC reported (2/24/25) monetary outcomes for the fourth quarter of fiscal 2024. Funds from operations (FFO) per share dipped -8% over the prior yr’s quarter, from $0.72 to $0.66, and missed the analysts’ consensus by $0.01.
The lower in FFO per share resulted primarily from impairment losses. LTC improved its leverage ratio (Web Debt to EBITDA) from 4.7x to 4.3x 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: 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 Schooling. The portfolio contains about $7 billion in investments throughout 340+ places in 44 states, together with over 200 tenants.
Supply: Investor Presentation
EPR posted fourth quarter and full-year earnings on February twenty sixth, 2025, and outcomes had been higher than anticipated on each the highest and backside strains.
Funds-from-operations got here to $1.23, which was a penny forward of estimates. Income was up 3% to $177 million, beating estimates by $16 million.
Adjusted FFO per-share was down from $1.29 in Q3, however larger from $1.16 within the year-ago interval. Income was additionally down from Q3, however larger from the year-ago interval.
Property working bills had been $15.2 million, larger from $14.6 million in Q3, and $14.8 million a yr in the past. Adjusted EBITDAre of $136 million was decrease from $143 million in Q3, however larger from $129 million final yr.
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 #19: Apple Hospitality REIT (APLE)
Apple Hospitality REIT is a lodge REIT that owns a portfolio of accommodations with tens of hundreds of rooms situated throughout dozens of states.
It franchises its properties out to main manufacturers, together with Marriottbranded accommodations, Hilton-branded accommodations, and Hyatt-branded accommodations.
Supply: Investor Presentation
Because it first started reporting FFO/share in its annual studies (2011), Apple initially generated very spectacular annualized FFO/share development due to its rising scale (due largely to a merger in 2015), efficient and environment friendly enterprise mannequin, and powerful financial tailwinds in america throughout that interval.
Sometimes, throughout a recessionary interval, lodge REITs expertise vital losses of revenue. Due to this fact, Apple is probably going not very recession resistant.
Nonetheless, its focus in sturdy model names, wonderful places, sturdy steadiness sheet, franchising mannequin, and emphasis on worth ought to allow it to outperform its friends in a recession.
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 #18: Gladstone Capital (GLAD)
Gladstone Capital is a enterprise growth firm, or BDC, that primarily invests in small and medium companies. These investments are made through a wide range of fairness (10% of portfolio) and debt devices (90% of portfolio), usually with very excessive yields.
Mortgage measurement is usually within the $7 million to $30 million vary and has phrases as much as seven years.
Gladstone posted first quarter earnings on February twelfth, 2025, and outcomes had been weaker than anticipated. Earnings-per-share got here to 50 cents, properly wanting the estimate for 65 cents.
Complete funding revenue, which is akin to income, was down $1.8 million, or 7.4%, year-over-year. In comparison with the September quarter, whole funding revenue fell by $2.1 million.
The online enhance in web property ensuing from operations was $27 million, or $1.21 per share. This was decrease than the $31.8 million, or $1.46 per share, acquire within the September quarter.
Gladstone famous $152 million in new fundings for the quarter, together with six new portfolio firms. Exits and prepayments had been $165 million, so web new funding was -$13 million. Complete debt investments rose by $45 million in the course of the quarter.
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 #17: Gladstone Funding Company (GAIN)
Gladstone Funding is a enterprise growth firm (BDC) that focuses on US-based small- and medium-sized firms.
Industries which Gladstone Funding targets embody aerospace & protection, oil & gasoline, equipment, electronics, and media & communications.
Gladstone Funding reported its third quarter (Q3 2024 ended December 31) earnings outcomes on February 13. The corporate generated whole funding revenue – Gladstone Funding’s income equal – of $21.4 million in the course of the quarter, which represents a decline of seven% in comparison with the prior yr’s quarter.
This was a weaker efficiency in comparison with the earlier quarter, when the expansion fee was optimistic.
Gladstone Funding’s adjusted web funding income-per-share totaled $0.23 in the course of the fiscal third quarter. That was up barely from the earlier quarter’s stage.
Gladstone Funding‘s web asset worth per share totaled $13.30 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 #16: Gladstone Industrial (GOOD)
Gladstone Industrial Company is an actual property funding belief, or REIT, that focuses on 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 development developments, rising populations, sturdy employment, and strong development developments.
The belief’s acknowledged aim is to pay shareholders month-to-month distributions, which it has finished for greater than 17 consecutive years. Gladstone owns over 100 properties in 24 states which can be leased to about 100 distinctive tenants.
Gladstone posted fourth quarter and full-year earnings on February 18th, 2025, and outcomes had been considerably weak. Funds-from-operations per share got here to 35 cents, which met expectations. Income was $37.4 million, which missed estimates by $0.66 million. The slight transfer up in income was pushed by larger straight-line rents.
Similar-store rents had been up 5% year-over-year, which was supported by elevated straight-line lease charges and restoration income. Working bills had been all the way down to $25 million from $28.1 million a yr in the past, partially as a consequence of diminished impairment costs.
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: 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 43 properties that occupied 4.5 million sq. ft of combination leasable space.
On March 4th, 2025, Modiv reported its This autumn and full-year outcomes for the interval ending December thirty first, 2024. For the quarter, rental revenue got here in at $11.7 million, down 4.8% 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 price revenue additionally fell from $99 thousand to $66 thousand. Thus, whole revenue was $11.7 million, down 5.3% from $12.4 million final yr.
AFFO was $4.1 million, or $0.37 per diluted share, down from AFFO of $4.5 million, or $0.40 per diluted share final yr.
For the yr, AFFO per share was $1.34. For FY2025, we anticipate AFFO per share of $1.38 primarily based on the corporate’s present leasing profile.
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 #14: 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 many others.
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% enhance 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. Complete property 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 development charges of 9.9% and 10.0%, respectively.
Key drivers included private, car, and mortgage loans, which noticed quarterly development 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 #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 yr.
The decline in revenues was primarily as a consequence of a 62% drop in gold gross sales quantity and a 54% lower in silver gross sales quantity. Nonetheless, these reductions had been partially offset by a 26% enhance 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 #11: Stellus Capital (SCM)
Stellus Capital Administration gives capital options to firms with $5 million to $50 million of EBITDA and does so with a wide range of devices, the vast majority of that are debt.
Stellus gives first lien, second lien, mezzanine, convertible debt, and fairness investments to a various group of shoppers, usually at excessive yields, within the US and Canada.
Supply: Investor Presentation
Stellus posted third quarter earnings on November seventh, 2024, and outcomes had been fairly weak on each the highest and backside strains. Web funding revenue, which has similarities to earnings-per-share, got here to 40 cents.
This was 4 cents gentle of estimates, or about 9%. Complete 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 yr’s Q3 and the identical interval a yr 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 #10: Ellington Monetary (EFC)
Ellington Monetary Inc. acquires and manages mortgage, shopper, company, and different associated monetary property 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 larger versus Q2-2024.
The rise was pushed partly by a sizeable contribution from Ellington’s proprietary reverse mortgage technique, offset by the next share rely. 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 #9: PennantPark Floating Fee Capital (PFLT)
PennantPark Floating Fee Capital Ltd. is a enterprise growth firm that seeks to make secondary direct, debt, fairness, and mortgage investments.
The fund additionally goals to speculate via floating fee loans in personal or thinly traded or small market-cap, public center market firms, fairness securities, most well-liked inventory, frequent inventory, warrants or choices obtained in reference to debt investments or via direct investments.
On November 26, 2024, PennantPark Floating Fee 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 current firms.
Investments carried a median yield of 11%, reflecting the continued power of the center market lending atmosphere. After the quarter, PFLT remained lively, 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 #8: Prospect Capital (PSEC)
Prospect Capital Company is a Enterprise Growth Firm, or BDC, that gives personal 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.
Supply: Investor Presentation
Prospect posted first quarter earnings on November eighth, 2024, and outcomes had been weak. Nonetheless, the large information was a 25% dividend reduce. Prospect diminished its payout to 54 cents per share yearly, sending the inventory reeling.
Web 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 a substitute 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 #7: Horizon Know-how (HRZN)
Horizon Know-how 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 enticing danger–adjusted returns via straight originated senior secured loans and extra capital appreciation via warrants.
Supply: Investor Presentation
On October twenty ninth, 2024, Horizon launched its Q3 outcomes for the interval ending September thirtieth, 2024. For the quarter, whole funding revenue fell 15.5% year-over-year to $24.6.7 million, primarily as a consequence 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 Q3 of 2024 and Q3 of 2023 was 15.9% and 17.1%, respectively.
Web funding revenue per share (IIS) fell to $0.32, down from $0.53 in comparison with Q3-2023. Web 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: 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 go–via 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.
Web 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% development 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 #5: 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.
Supply: Investor Presentation
Dynex Capital launched its fourth-quarter 2024 monetary outcomes, with e-book worth ending the quarter at $12.70 per share and an financial return of seven.4% for the yr.
Leverage elevated barely to 7.9x as the corporate deployed capital into higher-yielding company RMBS, notably 30-year 4.5%, 5%, and 5.5% coupons.
The shift from treasury futures to rate of interest swaps was a key technique, enhancing portfolio returns by 200 to 300 foundation factors and enhancing web curiosity unfold.
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 #4: Oxford Sq. Capital (OXSQ)
Oxford Sq. Capital Corp. is a BDC specializing in financing early and center–stage companies via loans and CLOs.
The firm holds an equally break up portfolio of First–Lien, Second–Lien, and CLO fairness assets unfold throughout a number of industries, with the 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 whole funding revenue, down from $11.4 million within the earlier quarter.
This was as a consequence of 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 price, 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 #3: Ellington Credit score Co. (EARN)
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.
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.
Web curiosity margin was 5.22% total. At quarter finish, Ellington had $25.7 million of money and money equivalents, and $96 million of different unencumbered property.
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 #2: ARMOUR Residential REIT (ARR)
ARMOUR Residential invests in residential mortgage-backed securities that embody U.S. Authorities-sponsored entities (GSE) corresponding to Fannie Mae and Freddie Mac.
It additionally contains Ginnie Mae, the Authorities Nationwide Mortgage Administration’s issued or assured securities backed by fixed-rate, hybrid adjustable-rate, and adjustable-rate dwelling 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 varieties 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 property and an curiosity price 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 via 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 #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 circulation primarily based on residential loans corresponding 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 yr. This web revenue comprised $0.3 million in web curiosity revenue and $4.3 million in whole bills.
Moreover, Orchid recorded web realized and unrealized features 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):
Remaining Ideas
Month-to-month dividend shares could possibly be extra interesting to revenue buyers than quarterly or semi-annual dividend shares. It’s because month-to-month dividend shares make 12 dividend funds per yr, as a substitute of the standard 4 or 2.
Moreover, month-to-month dividend shares with excessive yields above 5% are much more enticing for revenue buyers.
The 20 shares on this record haven’t been vetted for dividend security, which means every investor ought to perceive the distinctive danger 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 fascinated with discovering high-quality dividend development shares and/or different high-yield securities and revenue securities, the next Positive Dividend assets will likely be helpful:
Month-to-month Dividend Inventory Particular person Safety Analysis
Different Positive Dividend Sources
Thanks for studying this text. Please ship any suggestions, corrections, or inquiries to help@suredividend.com.
