Key Takeaways:
- Dividend stocks paid every month provide investors with predictable income. They simplify budgeting for people who rely on income investmenting, such as retirees.
- Most dividend stocks pay quarterly. However, there are several companies and REITs on US stock exchanges that offer monthly dividends.
- These stocks are characterized by high dividend yields, with many paying more than 7% annually. However, there are tax nuances to consider. For example, dividends from REITs (real estate investment trusts) do not qualify as qualifying dividends.
- Dividends paid monthly and their yields should not be the only criteria when selecting stocks. Dividend safety scores and the length of time they have been rising continuously should also be considered.
In this article, we provide a list of 75 stocks that provide monthly dividends. We will also discuss each of the companies listed and answer key questions about investing in monthly dividends.
Table of Contents
Monthly Dividend Stocks Spreadsheet Resources
In this section, you can download a dividend stock spreadsheet of stocks that pay dividends monthly. It includes all key metrics:
- dividend yields;
- payout ratios;
- dividend growth rates;
- 52-week highs and lows;
- betas.
2025 Monthly Dividend Stocks List Changes
List changes of dividend stocks paid monthly occur regularly. For example, Pembina and Keyera transitioned to a quarterly dividend policy in 2022, and SLR Investment followed suit in 2023.
The table of all companies and REITs that have monthly dividends (monthly dividend reits), sorted by yield, is provided below.
| Ticker | Name | Dividend Yield | Safety |
| ORC | Orchid Island Capital | 21.98% | Dangerous |
| ARR | ARMOUR Residential REIT | 20.14% | Dangerous |
| EARN | Ellington Credit Company | 18.64% | Dangerous |
| DX | Dynex Capital | 17.48% | Safe |
| AGNC | AGNC Investment | 17.27% | Carefully |
| OXSQ | Oxford Square Capital | 16.87% | Unsafe |
| HRZN | Horizon Technology Finance | 15.73% | Very Dangerous |
| PNNT | PennantPark | 15.48% | Very Dangerous |
| PSEC | Prospect Capital | 15.17% | Very Dangerous |
| FTCO | Fortitude Gold Corporation | 13.01% | |
| CRLFF | Cardinal Energy Ltd. | 12.95% | Safe |
| PFLT | PennantPark Floating Rate Capital | 12.89% | Safe |
| SCM | Stellus Capital | 12.81% | Very Dangerous |
| EFC | Ellington Financial | 12.80% | Very Dangerous |
| PRT | PermRock Royalty Trust | 12.34% | Dangerous |
| ZPTAF | Surge Energy | 10.63% | Dangerous |
| TBCRF | Timbercreek Financial Corporation | 10.41% | Unsafe |
| BREUF | Bridgemarq Real Estate Services | 9.73% | Safe |
| CRT | Cross Timbers Royalty Trust | 9.64% | Carefully |
| SBR | Sabine Royalty Trust | 9.38% | Unsafe |
| FRHLF | Freehold Royalties Ltd. | 9.18% | Very Dangerous |
| SPGYF | Whitecap Resources | 9.12% | Very Dangerous |
| BEVFF | Diversified Royalty Corp. | 8.93% | Dangerous |
| FRMUF | Firm Capital Property Trust | 8.69% | Very Dangerous |
| AMIVF | Atrium Mortgage Investment Corporation | 8.57% | Very safe |
| SRRTF | Slate Grocery REIT | 8.55% | Safe |
| GOOD | Gladstone Commercial | 8.47% | Unsafe |
| KRIUF | Keg Royalties Income Fund | 8.10% | |
| APLE | Apple Hospitality | 8.08% | Carefully |
| GLAD | Gladstone Capital Corporation | 7.95% | Dangerous |
| BPZZF | Boston Pizza Royalties Income Fund | 7.91% | – |
| MDV | Modiv Industrial | 7.65% | Very Dangerous |
| CWYUF | SmartCentres Real Estate Investment Trust | 7.47% | Very Safe |
| CGIFF | Chemtrade Logistics Income Fund | 7.44% | Very Dangerous |
| NWHUF | NorthWest Healthcare Properties Real Estate Investment Trust | 7.39% | Dangerous |
| EPR | EPR Properties | 7.39% | Very Safe |
| PEYUF | Peyto Exploration & Development Corp. | 7.35% | Dangerous |
| GAIN | Gladstone Investment Corporation | 7.08% | Very Safe |
| DREUF | Dream Industrial Real Estate Investment Trust | 6.80% | Dangerous |
| RIOCF | RioCan | 6.76% | Unsafe |
| PZRIF | Pizza Pizza Royalty Corp. | 6.72% | Unsafe |
| MLLGF | Mullen Group Ltd. | 6.68% | Dangerous |
| LTC | LTC Properties | 6.58% | Very Safe |
| NPIFF | Northland Power | 6.45% | Safe |
| ITUB | Itaú Unibanco Holding S.A. | 6.43% | Unsafe |
| HRUFF | H&R Real Estate Investment Trust | 6.34% | Dangerous |
| CTRRF | CT Real Estate Investment Trust | 6.28% | Safe |
| FNLIF | First National Financial Corporation | 6.23% | Very safe |
| PMREF | Primaris Real Estate Investment Trust | 6.23% | Very Dangerous |
| DRETF | Dream Office REIT | 6.11% | Very Dangerous |
| SLG | SL Green Realty | 5.90% | Dangerous |
| LAND | Gladstone Land | 5.85% | Dangerous |
| LWSCF | Sienna Senior Living | 5.68% | Safe |
| O | Realty Income | 5.52% | Very Safe |
| EIFZF | Exchange Income Corporation | 5.41% | Very safe |
| MAIN | Main Street Capital | 5.3% | Very Safe |
| PPRQF | Choice Properties Real Estate Investment Trust | 5.28% | Very dangerous |
| RPKIF | Richards Packaging Income Fund | 4.83% | |
| BSRTF | BSR Real Estate Investment Trust | 4.60% | Very Dangerous |
| STAG | STAG Industrial | 4.49% | Carefully |
| PBT | Permian Basin Royalty Trust | 4.23% | |
| GROW | U.S. Global Investors | 4.17% | Dangerous |
| WSR | Whitestone REIT | 4.10% | Very Dangerous |
| TNEYF | Tamarack Valley Energy Ltd. | 3.94% | Unsafe |
| ADC | Agree Realty | 3.89% | Safe |
| CDPYF | Canadian Apartment Properties Real Estate Investment Trust | 3.86% | Safe |
| MHCUF | Flagship Communities Real Estate Investment Trust | 3.84% | Very Dangerous |
| EXETF | Extendicare | 3.81% | Very dangerous |
| PRMRF | Paramount Resources Ltd. | 3.55% | Safe |
| PECO | Phillips Edison | 3.43% | Unsafe |
| SISXF | Savaria Corporation | 3.42% | Very Safe |
| BIRDF | Bird Construction | 3.26% | Dangerous |
| GWRS | Global Water Resources | 2.99% | Dangerous |
| PIFYF | Pine Cliff Energy Ltd. | 2.63% | Unsafe |
| BBD | Banco Bradesco S.A. | 1.73% | Safe |
| GRP.U | Granite Real Estate Investment Trust | 1.26% | Very Dangerous |
Ranking the Best Monthly Dividend Stocks Methodology
Below are reviews of dividend stocks with monthly payments. Based on the ranking methodology, the top positions are given to companies that provide stable income and ensure capital preservation.
Monthly Dividend Stock #1: Realty Income (O)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 5.52%
- Dividend Safety Score: Very Safe
- Uninterrupted Dividend Streak: 56 years
Realty Income demonstrates high recession-proof. The occupancy rate of the company’s standalone properties has not fallen below 96%, even during the financial crisis of 2008. During the pandemic, only a small number of tenants, primarily restaurants and fitness centers, closed.
This monthly dividend REIT operates on a triple-net lease structure. Today, these dividend stocks are considered the most reliable option for indirect real estate investments.
Monthly Dividend Stock #2: Main Street Capital (MAIN)
- Sector: Financials – Business Development Companies
- Dividend Yield: 5.3%
- Dividend Safety Score: Very Safe
- Uninterrupted Dividend Streak: 17 years
Main Street Capital is one of the oldest BDCs in the USA. MAIN’s diversified portfolio of high-yield loans includes about 150 middle market companies. A significant portion consists of first-lien secured loans.
Monthly Dividend Stock #3: Agree Realty (ADC)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 3.89%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 13 years
Agree Realty’s portfolio consists of approximately 2,000 single-tenant properties. The REIT’s clients are primarily retailers with investment-grade credit ratings. The essential business focuses are community shopping centers, grocery stores, and more.
Monthly Dividend Stock #4: STAG Industrial (STAG)
- Sector: Real Estate – Industrial REITs
- Dividend Yield: 4.49%
- Dividend Safety Score: Carefully
- Uninterrupted Dividend Streak: 13 years
STAG Industrial owns single-tenant properties, including warehouses and distribution centers for e-commerce. However, the primary focus is on manufacturing facilities. Therefore, STAG represents a cyclical REIT.
Monthly Dividend Stock #5: RioCan (RIOCF)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 6.76%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 3 years
RioCan is one of the largest monthly dividend REITs in the Canadian market. The company primarily owns mixed-use properties. About half of the company’s revenue comes from grocery-anchored shopping centers.
Monthly Dividend Stock #6: Gladstone Investment Corporation (GAIN)
- Sector: Financials – Business Development Companies
- Dividend Yield: 7.08%
- Dividend Safety Score: Very Safe
- Uninterrupted Dividend Streak: 14 years
BDC Gladstone Investment Corporation invests primarily in secured debt financing. However, about 15% of the portfolio consists of equity securities that provide capital appreciation. The management of GAIN is involved in managing portfolio companies and can contribute to value creation.
The company pays regular monthly dividends from interest income. Additionally, upon exiting private equity investments, it distributes supplemental dividends.
Monthly Dividend Stock #7: Gladstone Land (LAND)
- Sector: Real Estate – Specialized REITs
- Dividend Yield: 5.85%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 10 years
Gladstone Land is an agricultural REIT that earns income from leasing. The company’s farms are primarily dedicated to specialty crops. About 10% of LAND’s revenue comes from participation-based agreements related to revenue-sharing from crop sales.
Monthly Dividend Stock #8: Phillips Edison (PECO)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 3.4%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 4 years
Phillips Edison owns 300 grocery-anchored shopping centers located in suburban markets. About half of them are in the Sun Belt region. Approximately 70% of the company’s revenue comes from tenants that sell necessity-based goods.
Monthly Dividend Stock #9: EPR Properties (EPR)
- Sector: Real Estate – Experiential REITs
- Dividend Yield: 7.18%
- Dividend Safety Score: Very Safe
- Uninterrupted Dividend Streak: 3 years
The real estate portfolio of EPR Properties includes approximately 350 experiential properties. Among the tenants are movie theaters and eat and play concepts. It is important to note that during times of crisis, consumers cut back on discretionary purchases and entertainment, which negatively impacts EPR’s tenants.
Monthly Dividend Stock #10: SL Green Realty (SLG)
- Sector: Real Estate – Office REITs
- Dividend Yield: 5.9%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
SL Green Realty is the largest landlord in Manhattan. Most clients are investment-grade tenants, such as TD Bank. Negative factors include the rising popularity of hybrid work and upcoming debt maturities. Together, these may lead to a reduction in the size of monthly dividends.
Monthly Dividend Stock #11: Apple Hospitality (APLE)
- Sector: Real Estate – Hotel and Resort REITs
- Dividend Yield: 8.08%
- Dividend Safety Score: Carefully
- Uninterrupted Dividend Streak: 3 years
Apple Hospitality belongs to the category of hotel REITs. It owns approximately 200 properties with good geographic diversification. The properties are managed by Marriott and Hilton. The lodging industry is vulnerable to fluctuations in demand. The yield on these dividend stocks is entirely dependent on occupancy rates.
Monthly Dividend Stock #12: PennantPark Floating Rate Capital (PFLT)
- Sector: Financials – Business Development Companies
- Dividend Yield: 13.02%
- Dividend Safety Score: Safe
PennantPark Floating Rate Capital primarily works with first lien senior secured debt. PFLT rarely collaborates with middle market companies. Loans are issued to small high-growth businesses in non-cyclical industries. The loan covenants include floating rates.
Monthly Dividend Stock #13: Gladstone Commercial (GOOD)
- Sector: Real Estate – Diversified REITs
- Dividend Yield: 8.47%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 0 year
Gladstone Commercial owns industrial properties and office properties. The company has good tenant diversification, with no single tenant accounting for more than 6%. However, the high leverage of GOOD indicates a likelihood of payout reduction.
Monthly Dividend Stock #14: Gladstone Capital Corporation (GLAD)
- Sector: Financials – Business Development Companies
- Dividend Yield: 7.95%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 2 years
Gladstone Capital Corporation is a BDC that provides capital to small businesses. This includes first-lien debt with variable interest rates, as well as private equity.
Monthly Dividend Stock #15: LTC Properties (LTC)
- Sector: Real Estate – HealthCare REITs
- Dividend Yield: 6.41%
- Dividend Safety Score: Very Safe
- Uninterrupted Dividend Streak: 22 years
LTC Properties started its operations with mortgage loans for skilled nursing facilities. Today, ¾ of its income comes from leasing properties, primarily for senior housing. Tenant margins are expected to grow due to the increasing aging population. Revenues from essential services for the elderly make LTC’s monthly dividends quite stable.
Monthly Dividend Stock #16: Horizon Technology Finance (HRZN)
- Sector: Financials – Business Development Companies
- Dividend Yield: 15.73%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 7 years
Horizon Technology Finance focuses on lending to development-stage companies. HRZN provides venture capital and secured loans in industries such as technology and life science.
Monthly Dividend Stock #17: Prospect Capital (PSEC)
- Sector: Financials – Business Development Companies
- Dividend Yield: 15.17%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 0 years
Prospect Capital is one of the largest BDCs. PSEC operates under an external management structure and incurs expenses in the form of management fees. Over the past decade, the management company has not pursued asset growth to increase fees but has resorted to shareholder dilution.
Another drawback is the low level of first-lien collateral, which can lead to high credit losses during economic downturns.
Monthly Dividend Stock #18: Whitestone REIT (WSR)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 4.1%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 3 years
This monthly dividend REIT is engaged in turnaround properties. Whitestone REIT’s portfolio includes shopping centers in Arizona and Texas. The company owns about 1,500 properties, but they have high geographic concentration.
Monthly Dividend Stock #19: Stellus Capital (SCM)
- Sector: Financials – Business Development Companies
- Dividend Yield: 12.81%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 2 years
Stellus Capital is a BDC with external management. SCM works with small businesses that are financed by private equity sponsors. Over 80% of the portfolio consists of first-lien secured loans. The loan covenants include prepayment penalties to mitigate risks.
Monthly Dividend Stock #20: Ellington Financial (EFC)
- Sector: Financials – Hybrid Mortgage REITs
- Dividend Yield: 12.8%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 0 years
EFC operates not only with agency MBS. The credit portfolio of Ellington Financial includes diversified investments. These are residential mortgage loans, reverse mortgages, commercial mortgages, as well as consumer and corporate loans. EFC has a much lower interest rate sensitivity than the agency business. This is due to relatively short financing terms and low leverage.
Monthly Dividend Stock #21: Ellington Residential Mortgage REIT (EARN)
- Sector: Financials – Residential Mortgage REITs
- Dividend Yield: 18.64%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
Ellington Residential specializes in owning agency MBS. EARN enhances leveraged returns. Most of the company’s debt obligations are repurchase agreements or repos. The duration mismatch between agency MBS and repos is the main reason for the company’s reduced profits in rising interest rate environments.
Monthly Dividend Stock #22: AGNC Investment Corp. (AGNC)
- Sector: Financials – Residential Mortgage REITs
- Dividend Yield: 17.27%
- Dividend Safety Score: Carefully
- Uninterrupted Dividend Streak: 2 years
AGNC Investment Corp primarily invests in long-term agency MBS. Like EARN, the company uses leverage. Its debt consists of short-term repos. This makes AGNC vulnerable to interest rate risk.
Monthly Dividend Stock #23: Armour Residential REIT (ARR)
- Sector: Financials – Residential Mortgage REITs
- Dividend Yield: 20.14%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 0 years
Armour Residential REIT specializes in agency MBS. The company engages in levered investments. Due to the interest rate mismatch between agency MBS and repos, there is a risk of the dividend decline. However, today among REITs that pay monthly dividends, ARR is now one of the leaders in terms of yield.
Monthly Dividend Stock #24: Orchid Island Capital (ORC)
- Sector: Financials – Residential Mortgage REITs
- Dividend Yield: 21.98%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
Orchid Island Capital profits from interest rate volatility and yield curve fluctuations. The company issues short-term loans and invests in long-term bonds. A high level of leverage can lead to margin calls.
Interest rates rise is highly likely to result in dividend cuts. However, it is currently one of the stocks with the highest monthly dividends.
Monthly Dividend Stock #25: Oxford Square Capital (OXSQ)
- Sector: Financials – Business Development Companies
- Dividend Yield: 16.87%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 2 years
Oxford Square Capital is a BDC that provides corporate loans to small companies. The OXSQ portfolio includes second-lien secured debt and CLO equity. Due to its high risk, OXSQ’s cyclical performance is weak. During downturns, the company incurs losses and reduces its monthly dividends.
Monthly Dividend Stock #26: Dynex Capital (DX)
- Sector: Financials – Residential Mortgage REITs
- Dividend Yield: 17.48%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 2 years
Dynex Capital invests in agency MBS and raises capital through repos. It profits from the interest rate spreads between these instruments. The current situation of high interest rates may lead to dividend cuts.
Monthly Dividend Stock #27: U.S. Global Investors (GROW)
- Sector: Financials – Asset Management
- Dividend Yield: 4.23%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
The company specializes in investment management. GROW owns 2 ETFs and 8 mutual funds. The underlying assets include gold, natural resources, and luxury goods. U.S. Global Investors also works with emerging markets securities.
Monthly Dividend Stock #28: Modiv Inc. (MDV)
- Sector: Financials – Industrial REITs
- Dividend Yield: 7.65%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 3 years
The micro-cap REIT owns commercial properties, including industrial, office, and retail spaces. It owns around 40 properties in total. A drawback is tenant concentration, with some tenants accounting for around 10% of the revenue.
Monthly Dividend Stock #29: Flagship Communities REIT (MHCUF)
- Sector: Real Estate – Residential REITs
- Dividend Yield: 3.85%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 2 years
This monthly dividend REIT owns manufactured housing communities in the Midwest markets. This sector is recession-resistant. The company has growth potential through acquisition growth. A drawback is the high leverage.
Monthly Dividend Stock #30: Primaris REIT (PMREF)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 6.12%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 0 years
PMREF owns more than 10 enclosed malls. The tenants are primarily apparel retailers. Due to retail transformation and e-commerce challenges, there is a risk of dividend reductions. The positive aspect is the moderate payout ratio.
Monthly Dividend Stock #31: Timbercreek Financial (TBCRF)
- Sector: Financials – Residential Mortgage REITs
- Dividend Yield: 10.41%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 0 years
TBCRF is a Canadian lender that provides short-duration structured loans to real estate investors in commercial real estate and multifamily properties. The drawbacks are the small size of the company and potential losses during economic downturns.
Monthly Dividend Stock #32: Fortitude Gold (FTCO)
- Sector: Basic Materials – Gold
- Dividend Yield: 13.01%
- Dividend Safety Score: –
- Uninterrupted Dividend Streak: 0 years
FTCO owns a gold mining company in Nevada. A positive factor is that it is debt-free. Negative factors include operational risk due to owning a single property and commodity dependence.
Monthly Dividend Stock #33: Pine Cliff Energy (PIFYF)
- Sector: Energy – Oil and Gas Production
- Dividend Yield: 2.63%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 0 years
PIFYF is a Canadian company involved in natural gas extraction. It is heavily exposed to commodity prices. A positive factor is that it is debt-free. Management ownership is about 10% of the shares. The company is a recent dividend initiator and will not start rewarding shareholders with monthly dividends until 2022.
Monthly Dividend Stock #34: Paramount Resources (PRMRF)
- Sector: Energy – Oil and Gas Production
- Dividend Yield: 3.55%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 0 years
PRMRF is a company engaged in oil and gas exploration and production. Paramount Resources is heavily dependent on energy prices. Its undeveloped reserves increase capital requirements, which may negatively impact dividends.
Monthly Dividend Stock #35: Tamarack Valley Energy (TNEYF)
- Sector: Energy – Oil and Gas Production
- Dividend Yield: 3.94%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 3 years
TNEYF is engaged in oil exploration and gas production in the Western Canadian basin. This is a business with high energy price sensitivity. The company follows an acquisitive growth strategy through new acquisitions.
Monthly Dividend Stock #36: Granite Real Estate Investment Trust (GRP.U)
- Sector: Real Estate – Industrial REITs
- Dividend Yield: 1.26%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 1 year
GRP.U owns an international portfolio of distribution centers and other logistics properties. The company’s assets are located in Europe and North America. Granite Real Estate Investment Trust is a beneficiary of positive e-commerce trends.
Monthly Dividend Stock #37: Canadian Apartment Properties REIT (CDPYF)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 3.86%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 1 year
CDPYF is one of the largest funds in the Canadian housing market. The company manages multi-family residential apartment communities in Canada and several other countries. The apartment complexes are primarily located in urban centers and have stable occupancy.
Monthly Dividend Stock #38: NorthWest Healthcare Properties REIT (NWHUF)
- Sector: Real Estate – Healthcare REITs
- Dividend Yield: 7.39%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 1 years
NWHUF operates in healthcare real estate. Its international portfolio includes hospitals and medical office buildings. The company has long term leases on space and has index contracts with tenants. It can be classified as part of the defensive sector.
Monthly Dividend Stock #39: Northland Power Inc. (NPIFF)
- Sector: Utilities – Renewable Energy
- Dividend Yield: 6.58%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 0 years
NPIFF is a beneficiary of the clean energy transition. The company is engaged in power generation using wind power and solar energy. Its facilities are located in seven countries and generate up to 3.2 GW.
Monthly Dividend Stock #40: Exchange Income Corporation (EIFZF)
- Sector: Industrials – Airlines
- Dividend Yield: 5.41%
- Dividend Safety Score: Very safe
- Uninterrupted Dividend Streak: 0 years
EIFZF operates with diversified operations, growing through an acquisition strategy. The company provides aviation services, including pilot training, aircraft maintenance, and transportation. It also engages in manufacturing windows and owns television towers.Income investors with a Canadian focus should note that dividends from Canadian companies are subject to a 15% withholding tax.
Monthly Dividend Stock #41: SmartCentres Real Estate Investment Trust (CWYUF)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 7.39%
- Dividend Safety Score: Very Safe
- Uninterrupted Dividend Streak: 0 years
This monthly dividend REIT is one of the leaders in the Canadian retail sector. CWYUF owns mixed-use development properties in the center of each province in the country. These include open-air shopping centers, grocery-anchored stores, and more.
Monthly Dividend Stock #42: Dream Industrial REIT (DREUF)
- Sector: Real Estate – Industrial REITs
- Dividend Yield: 6.8%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
DREUF owns more than 250 industrial properties, including warehouses, distribution centers, and logistics facilities. This allows the company to capitalize on e-commerce trends. The majority of its portfolio consists of single tenant industrial properties located in Canada.
Monthly Dividend Stock #43: Dream Office REIT (DRETF)
- Sector: Real Estate – Office REITs
- Dividend Yield: 6.11%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 0 years
DRETF is a leading player in the Canadian office market. The company’s office properties are located in Toronto and the largest urban centers in the country. Dream Office has high tenant quality. However, the company is expected to incur losses due to a potential decline in interest in office properties resulting from workspace evolution and the shift to remote work.
Monthly Dividend Stock #44: H&R Real Estate Investment Trust (HRUFF)
- Sector: Real Estate – Diversified REITs
- Dividend Yield: 6.34%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
HRUFF owns office properties, retail centers, industrial facilities, and residential apartments in North America. However, the management has decided to gradually divest from retail office buildings.
Monthly Dividend Stock #45: Sienna Senior Living (LWSCF)
- Sector: Real Estate – HealthCare REITs
- Dividend Yield: 5.68%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 0 years
LWSCF manages long-term care facilities and retirement residences in Canada. The senior housing provided includes healthcare services, specialized memory support programs, and more. Due to aging demographics, an increase in demand for skilled nursing facilities and similar organizations is expected.
Monthly Dividend Stock #46: Mullen Group Ltd. (MLLGF)
- Sector: Industrials – Trucking Services
- Dividend Yield: 6.68%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
MLLGF provides logistics services, including transportation for freight, warehousing, and more. It also provides specialized construction, forestry, and energy services, such as liquid transportation and environmental restoration. The majority of its profits come from Canadian infrastructure, with an additional segment of the business operating overseas.
Monthly Dividend Stock #47: Choice Properties REIT (PPRQF)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 5.28%
- Dividend Safety Score: Very dangerous
- Uninterrupted Dividend Streak: 1 year
PPRQF is a Canadian REIT that manages retail real estate grocery-anchored stores and necessity-based retail. An additional focus includes offices, manufacturing buildings, and multi-family properties. A key feature is its strong Loblaw relationship, which accounts for 500 of the company’s 700 properties. This ensures consistent rental income, but insufficient diversification increases risks.
Monthly Dividend Stock #48: Whitecap Resources Inc. (SPGYF)
- Sector: Energy – Oil & Gas Production
- Dividend Yield: 9.12%
- Dividend Safety Score: Very dangerous
- Uninterrupted Dividend Streak: 4 years
SPGYF is a Canadian producer of oil and gas. The company specializes in carbon capture and supports the energy transition to low-emission sources. However, the dividend sustainability is in question, as the company’s profits still heavily depend on oil and gas prices.
Monthly Dividend Stock #49: Freehold Royalties Ltd. (FRHLF)
- Sector: Energy – Oil and Gas Production
- Dividend Yield: 9.18%
- Dividend Safety Score: Very dangerous
- Uninterrupted Dividend Streak: 1 year
FRHLF is a representative of Canadian energy with a diversified portfolio that generates income from oil and gas royalties. The company’s profits are subject to commodity exposure. A strong point is that Whitecap Resources Inc has no operational costs.
Monthly Dividend Stock #50: Peyto Exploration & Development Corp. (PEYUF)
- Sector: Energy – Oil and Gas Production
- Dividend Yield: 7.35%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
PEYUF is a natural gas producer with vertical integration. The primary operations are conducted in the Western Canadian sedimentary basin, with an additional 45% of revenue coming from its U.S. division. The company places a strong emphasis on low-cost operations. Profits are heavily influenced by commodity prices.
Monthly Dividend Stock #51: Pizza Pizza Royalty Corp. (PZRIF)
- Sector: Consumer Cyclical – Restaurant Royalties
- Dividend Yield: 6.72%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 0 years
PZRIF is a representative of the foodservice industry operating under a franchise system. The company owns established brands in the Canadian market, including Pizza Pizza and Pizza 73. It has no direct costs, and profits depend on sales in the restaurants.
Monthly Dividend Stock #52: Boston Pizza Royalties Income Fund (BPZZF)
- Sector: Consumer Cyclical – Restaurant Royalties
- Dividend Yield: 7.91%
- Dividend Safety Score: –
- Uninterrupted Dividend Streak: 0 years
BPZZF owns the brand rights to Boston Pizza. These are Canadian restaurants offering casual dining and operating under a franchise system. This type of business is more sensitive to declines in the financial situation of customers than fast-food establishments.
Monthly Dividend Stock #53: The Keg Royalties Income Fund (KRIUF)
- Sector: Consumer Cyclical – Restaurant Royalties
- Dividend Yield: 8.1%
- Dividend Safety Score: –
- Uninterrupted Dividend Streak: 0 years
KRIUF owns the well-known steakhouse brand The Keg in the Canadian market. It falls under the premium casual dining segment and offers a wide variety of dishes at the consumer discretionary. The target audience is individuals with above-average income.
Monthly Dividend Stock #54: Chemtrade Logistics Income Fund (CGIFF)
- Sector: Basic Materials – Industrial Chemicals
- Dividend Yield: 7.44%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 1 year
CGIFF owns manufacturing inputs and provides services in industries such as water treatment, electrochemicals, and other areas of the cyclical industry with relatively predictable demand patterns.
Monthly Dividend Stock #55: Richards Packaging Income Fund (RPKIF)
- Sector: Consumer Cyclical – Packaging Products
- Dividend Yield: 4.83%
- Dividend Safety Score: –
- Uninterrupted Dividend Streak: 0 years
RPKIF operates in areas such as healthcare packaging, food packaging, and essential products. The diversity of its product offerings and a well-established distribution network provide relative stability in profits.
Monthly Dividend Stock #56: Extendicare Inc. (EXETF)
- Sector: Healthcare – Medical Care Facilities
- Dividend Yield: 3.81%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 0 years
EXETF provides senior care in long-term care facilities and retirement living communities. It also offers home healthcare services. This Canadian company benefits from aging demographics, and its revenue remains stable due to government funding.
Monthly Dividend Stock #57: First National Financial Corporation (FNLIF)
- Sector: Financials – Mortgage Finance
- Dividend Yield: 6.23%
- Dividend Safety Score: Very safe
- Uninterrupted Dividend Streak: 1 year
FNLIF provides mortgage lending in the Canadian housing market. An important part of its revenue comes from mortgage servicing. However, the company has high interest rate sensitivity, like other players in the financial services sector.
Monthly Dividend Stock #58: Bridgemarq Real Estate Services (BREUF)
- Sector: Real Estate – Real Estate Services
- Dividend Yield: 9.73%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 0 years
BREUF operates a franchise network of real estate brokerage firms. The company owns the rights to the brands Royal LePage, Via Capitale, and Johnston & Daniel. Royalties are calculated based on transaction-based income from real estate deals. This means that profits and dividends depend on housing market cycles.
Monthly Dividend Stock #59: Atrium Mortgage Investment Corporation (AMIVF)
- Sector: Financials – Mortgage Finance
- Dividend Yield: 8.57%
- Dividend Safety Score: Very safe
- Uninterrupted Dividend Streak: 2 years
AMIVF is engaged in mortgage lending, including short-term loans, first and second mortgages. The company works with residential and commercial Canadian real estate. Atrium Mortgage practices a low loan-to-value ratio. This conservative approach to real estate financing supports credit quality and reduces risks.
Monthly Dividend Stock #60: Banco Bradesco S.A. (BBD)
- Sector: Financials – Regional Banks
- Dividend Yield: 1.73%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 0 years
BBD is a leader in Brazilian banking. The company holds a prominent position in the Latin American finance market. The bank operates in emerging markets and has extensive international exposure. However, the company’s dividend policy is not characterized by stability.
Monthly Dividend Stock #61: Itaú Unibanco Holding S.A. (ITUB)
- Sector: Financials – Regional Banks
- Dividend Yield: 6.43%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 0 years
ITUB is another representative of Brazilian banking. It is present in the Latin American finance market, in other emerging markets, as well as in the U.S., Europe, and Asia. Including its shares in a portfolio is a way of ensuring international diversification. However, the amount of the monthly payout is extremely unstable.
Monthly Dividend Stock #62: Cross Timbers Royalty Trust (CRT)
- Sector: Energy – Oil and Gas Production
- Dividend Yield: 9.64%
- Dividend Safety Score: Carefully
- Uninterrupted Dividend Streak: 0 years
CRT owns oil and gas infrastructure assets in Texas, Oklahoma, and New Mexico. The company’s revenue consists of oil and gas royalties. This depends on production volumes and commodity prices. An important drawback is the depleting assets of the trust.
Monthly Dividend Stock #63: Diversified Royalty Corp. (BEVFF)
- Sector: Industrials – Specialty Business Services
- Dividend Yield: 8.93%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 3 years
BEVFF operates in the franchise businesses in the Canadian market. The company owns a multi-brand portfolio. For example, it includes Mr. Lube, Sutton, and others. Its profit comes from trademark royalties. Its monthly dividends can be considered stable revenue streams.
Monthly Dividend Stock #64: BSR Real Estate Investment Trust (BSRTF)
- Sector: Real Estate – Residential REITs
- Dividend Yield: 4.61%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 0 years
BSRTF is an internally-managed REIT. The company owns multi-family apartments in Texas and other key Sunbelt markets. BSR Real Estate Investment Trust benefits from population growth and demand for rental housing in this region.
Monthly Dividend Stock #65: Firm Capital Property Trust (FRMUF)
- Sector: Real Estate – Diversified REITs
- Dividend Yield: 8.69%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 0 year
This monthly dividend REIT owns a portfolio of diversified real estate. It includes retail properties, industrial properties, and multi-residential units. The property management strategy stipulates that no single tenant should account for more than 6% of the cash flow.
Monthly Dividend Stock #66: CT REIT (CTRRF)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 6.28%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 0 years
CTRRF manages retail properties. A positive aspect is that the leases are structured as triple-net leases. On the negative side, there is a high tenant concentration. A key partner is Canadian Tire Corporation, which operates in necessity-based retail and household goods.
Monthly Dividend Stock #67: Slate Grocery REIT (SRRTF)
- Sector: Real Estate – Retail REITs
- Dividend Yield: 8.55%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 0 years
Slate Grocery is a Canadian-based REIT that operates with U.S. properties. The company owns grocery-anchored shopping centers. Essential retail has defensive characteristics, and the level of demand is not dependent on economic cycles.
Monthly Dividend Stock #68: Global Water Resources (GWRS)
- Sector: Utilities – Water Utilities
- Dividend Yield: 2.99%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
GWRS provides water supply and owns wastewater utilities in Phoenix, Arizona. The company receives regulated income and benefits from population growth.
Monthly Dividend Stock #69: Savaria Corporation (SISXF)
- Sector: Industrials – Industrial Machinery and Components
- Dividend Yield: 3.26%
- Dividend Safety Score: Very Safe
- Uninterrupted Dividend Streak: 1 year
SISXF offers medical equipment, mainly accessibility solutions and mobility products. For example, wheelchair lifts and others. The company expects acquisitive growth in demand against the backdrop of aging demographics.
Monthly Dividend Stock #70: PermRock Royalty Trust (PRT)
- Sector: Energy – Oil & Gas Production
- Dividend Yield: 12.34%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
PRT’s revenues are derived from gas and oil royalties.Their level is directly influenced by commodity price volatility. The company owns assets in Texas, Oklahoma, and New Mexico. A negative aspect is the expected depleting assets and a decline in production.
Monthly Dividend Stock #71: PennantPark (PNNT)
- Sector: Financials – Asset Management and Custody Banks
- Dividend Yield: 15.48%
- Dividend Safety Score: Very Dangerous
- Uninterrupted Dividend Streak: 3 years
PNNT provides debt and equity financing to middle-market companies. A large portion of the portfolio consists of first lien loans. The company utilises second lien loans to enhance yields.
Monthly Dividend Stock #72: Cardinal Energy Ltd (CRLFF)
- Sector: Energy – Oil and Gas Production
- Dividend Yield: 12.95%
- Dividend Safety Score: Safe
- Uninterrupted Dividend Streak: 0 years
CRLFF is engaged in the exploration and production of oil and natural gas. Operations are conducted in the provinces of Alberta, British Columbia, and Saskatchewan. A large portion of the company’s revenue comes from the sale of crude oil.
Monthly Dividend Stock #73: Surge Energy (ZPTAF)
- Sector: Energy – Oil and Gas Production
- Dividend Yield: 10.63%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
ZPTAF is an oil and gas company from Western Canada. It covers the full cycle from exploration to production of oil and gas. Key assets are located in Sparky, Southeast Saskatchewan, and Alberta.
Monthly Dividend Stock #74: Permian Basin Royalty Trust (PBT)
- Sector: Energy – Oil and Gas Production
- Dividend Yield: 16.87%
- Dividend Safety Score: Unsafe
- Uninterrupted Dividend Streak: 1 year
PBT owns interests in oil and gas properties in the US, with a large proportion of its holdings in Texas. As with all oil and gas royalty trusts, profits and dividends from the Permian Basin are heavily dependent on commodity prices.
Monthly Dividend Stock #75: Bird Construction (BIRDF)
- Sector: Industrials – Construction and Engineering
- Dividend Yield: 4.11%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 2 years
Bird Construction is a Canadian construction company that also provides capital repair, maintenance and ongoing repair services. The company is expanding through acquisitions. For example, it recently added a civil infrastructure construction business to its portfolio.
Monthly Dividend Stock #76: Sabine Royalty Trust (SBR)
- Sector: Energy – Oil and Gas Production
- Dividend Yield: 9.38%
- Dividend Safety Score: Dangerous
- Uninterrupted Dividend Streak: 0 years
Sabine Royalty Trust is a special trust established to receive royalties from Sabine Corporation. The company receives payments for the extraction of minerals. Its properties are located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma and Texas. The amount of the payout is very volatile.
Monthly Dividend Stock Performance Trends
Total return metrics for a stock consist of dividend payments and growth in market value. As seen in the overview, most dividend stocks with monthly payments belong to cyclical sectors. Their performance is influenced not only by sector performance but also by the phase of the economic cycle. This primarily applies to oil and gas companies, followed by monthly dividend REITs that are associated with retail and office spaces.
Over a long investment horizon, the comparative returns of such assets can be said to outperform broad market indices. In addition, volatility analysis shows that many stocks with monthly dividends have a beta greater than one.
In the short term, the situation may be different. For example, a yield comparison for February 2025 shows that dividend stocks with monthly payments underperformed the Russell 2000 index. In March 2025, however, they significantly outperformed.
Strategies for Building a Monthly Dividend Portfolio
Diversification of a portfolio of dividend stocks paid monthly involves the following steps:
- Sector allocation. Investors should utilize all available sectors rather than focusing on just 1-2 of the most profitable ones.
- Risk management through less lucrative but more reliable payers. Among monthly dividend REITs, there are issuers that provide yields over 20%. However, such investments are extremely risky. They need to be balanced with reliable assets that offer predictable income.
- Adding not only U.S. securities to the portfolio but also stocks from companies in other countries.
While income planning from dividend stocks that paid monthly, it is advisable to consider not only the frequency of payments. Attention should also be paid to the quality of the business, financial stability, and the sustainability of dividends.
Financial advisors also recommend not limiting oneself to a monthly dividend company. Adding issuers that adhere to a quarterly payment scheduling can enhance diversification. This significantly increases the number of available sectors and reliable payers.
Tax Considerations for Monthly Dividend Investors
Dividend stocks with monthly payments have drawbacks. First, owning them generates taxable income each month, complicating tax reporting.
Second, most companies with monthly dividends have a number of tax peculiarities. For example:
- Payments from monthly dividend REITs typically cannot be classified as qualified dividends. In some cases, this also applies to dividends from BDCs, meaning that net investment income may turn out to be lower than expected.
- Distributions from royalty trusts are often considered a return of capital. They do not require tax payment in the year received but are subsequently taxed at ordinary income rates.
- Distributions from Canadian and Brazilian monthly dividend companies involve foreign withholding taxes.
To ensure tax efficiency, special accounts with benefits, such as IRAs, can be used. This is advisable when purchasing REITs with monthly dividends. However, this solution is not suitable for companies that engage in return of capital.
Common Pitfalls to Avoid with Monthly Dividend Stocks
Investors in monthly dividend stocks face several pitfalls:
- Yield traps. These are companies that show high dividend yields as a result of a sharp decline in market price. In this case, there is a risk of dividend cuts and further capitalization decline.
- Liquidity risks. Many monthly dividend companies are only available on the over-the-counter market or have extremely low trading volumes on exchanges. This leads to the investor being unable to sell the asset quickly.
- Sector concentration. The list of stocks that pay monthly dividends includes securities from a small number of sectors. Limiting oneself to these can negatively impact diversification.
When selecting dividend stocks that pay monthly, it is essential to pay attention to the quality of the business, payout sustainability, and any signals of potential dividend cuts in the future. Such signals may include rising debt levels, declining operational metrics, and increasing payout ratios.
Monthly vs. Quarterly Dividends: The Mathematical Impact
Mathematical comparison shows that reinvestment frequency has a moderate impact on overall returns. For example:
- initial capital – $10,000;
- average annual return – 8%;
- investment period – 20 years.
In this case, with a reinvestment period of 1 month, the final amount will be $49,268. With a reinvestment period of 1 quarter, it will be $48,754. However, the longer the investment period, the more noticeable the difference in returns becomes. Over a 30-year horizon, the compounding advantage of monthly reinvestment exceeds $1,700.
Another factor that can enhance long-term returns is dollar-cost averaging. The more volatile the market, the more beneficial high reinvestment frequency becomes. Monthly account contributions nearly negate the impact of timing on purchases.
Future Outlook for Monthly Dividend Stocks
Monthly dividend stocks are considered to be more lucrative. However, they are also affected by external factors. When selecting companies for a portfolio, investors need to consider:
- industry trends;
- interest rate impacts;
- potential regulatory changes.
For example, companies earning from oil and gas royalties may face challenges due to the growing interest in green energy. Meanwhile, most REITs may be impacted by the popularity of remote work and e-commerce.
Mortgage REITs benefit during periods when interest rates fall. They borrow capital at lower rates while continuing to receive payments on long-term obligations.
Companies that capitalize on current trends may demonstrate distribution growth in the distant future. For example, monthly dividend REITs that operate in the senior care sector, as well as BDCs that own stakes in companies involved in new technologies and life sciences.
However, it is not enough to look at the industry as a whole; it is essential to consider the fundamental metrics and competitive positioning of individual businesses. It is also helpful to pay attention to the potential emerging of new monthly payers.
Final Thoughts: Building a Balanced Income Portfolio
Monthly dividend stocks simplify the income and expense matching. They also provide a psychological advantage. However, when it comes to passive income and financial freedom, the dividend durability is more important.
Therefore, experts recommend purchasing monthly dividend companies based on their track record of rewarding shareholders and financial metrics, rather than payment timing. In our list, there is a minimum number of monthly dividend stocks to hold forever in a conservative portfolio. Most companies have repeatedly cut their payouts throughout their history.
To find high-quality monthly payers, one should consider the payout ratio, the duration of dividend growth streaks, and financial performance. Chasing high-yield assets can lead to capital loss.
FAQ
What is the best monthly dividend stock?
The highest monthly dividend stocks can be considered Realty Income and LTC Properties. They have the longest track record of continuous shareholder reward growth, with both companies paying dividends every month for over 20 years.
How to make $1000 a month in dividends?
This depends on the average yield of the dividend stock portfolio. For example, at a 6% annual rate, you would need to invest $200,000 in stocks.
Which shares pay dividends monthly?
Among stocks with dividends that are paid monthly, monthly dividend REITs, BDCs, and companies that earn from royalties dominate.
Are monthly dividends worth it?
Regular income in the form of dividends paid monthly increases the effective interest rate of the portfolio through more frequent reinvestment. Such stocks are interesting from the perspective of dollar-cost averaging. However, this impact is relatively moderate. Therefore, companies with reliable metrics are preferred over those with frequent payouts.
