Updated on August 19th, 2026 by Nikolaos Sismanis
Monthly dividend stocks are securities that pay a dividend every month instead of quarterly or annually.
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 over 100 monthly dividend stocks.
You can download our full Excel spreadsheet of all monthly dividend stocks (along with metrics that matter like dividend yields, payout ratios, buy/hold/sell ratings, fair value prices, expected total returns, and much more) by clicking on the link below:
Monthly dividend payouts along with high yields are certainly attractive on the surface.
However, many monthly dividend stocks have turned in poor performance, marked by low (or even negative) total returns.
While past performance is not a guarantee of future results, it can be useful to look back to see which monthly dividend stocks performed the best.
Therefore, this article will discuss the 10 best-performing monthly dividend stocks over the past 10 years.
Table Of Contents
The best performing monthly dividend stocks are ranked below, according to their total annualized returns. Return data is provided by ycharts.
You can instantly jump to an individual section of the article by utilizing the links below:
- Best Performing Monthly Dividend Stock #10: Savaria Corporation (SISXF)
- Best Performing Monthly Dividend Stock #9: Sabine Royalty Trust (SBR)
- Best Performing Monthly Dividend Stock #8: Gladstone Investment Corporation (GAIN)
- Best Performing Monthly Dividend Stock #7: Olympia Financial Group Inc. (OLYFF)
- Best Performing Monthly Dividend Stock #6: Paramount Resources Ltd. (PRMRF)
- Best Performing Monthly Dividend Stock #5: Capital Southwest Corporation (CSWC)
- Best Performing Monthly Dividend Stock #4: Extendicare Inc. (EXETF)
- Best Performing Monthly Dividend Stock #3: Exchange Income Corporation (EIFZF)
- Best Performing Monthly Dividend Stock #2: Permian Basin Royalty Trust (PBT)
- Best Performing Monthly Dividend Stock #1: Bird Construction Inc. (BIRDF)
Best Performing Monthly Dividend Stock #10: Savaria Corporation (SISXF)
- Annualized 10-Year Total Return: 11.5%
- Expected Total Return: 5.6%
Savaria Corporation designs and manufactures accessibility products, including stairlifts, home elevators, platform lifts, patient-handling equipment, and medical beds for customers in North America and Europe.
Its exposure to an aging population gives the business a durable demand backdrop, while its manufacturing scale and dealer network support recurring growth across its Accessibility and Patient Care segments.
Savaria reported second-quarter results on August 5th, 2026, with revenue rising 8.4% to C$245.8 million, including 6.6% organic growth.
Adjusted EBITDA increased 10.7% to C$51.8 million, representing a 21.1% margin, while diluted earnings improved to C$0.34 per share from C$0.23 a year earlier.
The July acquisition of Italian lift specialist Vipal expands Savaria’s product range and European presence as management works toward its 2030 revenue target of C$1.6 billion and an adjusted EBITDA margin of at least 20%.
Savaria pays C$0.0467 per share each month and has increased its home-currency dividend for 13 consecutive years, an unusual record among monthly payers.
The company also ended the quarter with net debt equal to only 0.87 times adjusted EBITDA, leaving financial flexibility for further investment.
Its 11.5% annualized trailing return is attractive, although the 5.6% expected return suggests more moderate gains from the current valuation.
Best Performing Monthly Dividend Stock #9: Sabine Royalty Trust (SBR)
- Annualized 10-Year Total Return: 13.0%
- Expected Total Return: -0.8%
Sabine Royalty Trust owns royalty and mineral interests in oil and natural gas properties across six states, including Texas, Louisiana, and New Mexico.
The trust has no operating business and cannot acquire new properties, so its cash flow depends on production volumes, commodity prices, expense levels, and the timing of royalty receipts from third-party operators.
First-quarter 2026 distributable income was $13.0 million, or about $0.89 per unit, as lower oil and gas volumes and weaker oil pricing outweighed stronger natural gas prices and lower expenses.
Oil production fell to 139,120 barrels from 211,707 barrels, while natural gas production declined to 2.8 million Mcf from 3.9 million Mcf.
More recently, the trustee declared an August distribution of $0.619430 per unit, bringing total 2026 distributions through August to roughly $3.27 per unit.
That payment increased from July because of higher oil and gas production and stronger oil pricing, but monthly amounts can change dramatically.
SBR’s payments are royalty distributions rather than a steadily growing corporate dividend, and the trust’s static asset base naturally depletes over time.
Its diversified properties have supported a strong 13.0% annualized 10-year return, but the -0.8% expected return underscores the risk of extrapolating past commodity-driven performance.
Best Performing Monthly Dividend Stock #8: Gladstone Investment Corporation (GAIN)
- Annualized 10-Year Total Return: 14.4%
- Expected Total Return: 2.7%
Gladstone Investment Corporation is a business development company that provides debt and equity capital to established U.S. lower-middle-market businesses, often alongside management-led buyouts.
Its portfolio combines recurring interest income with potential capital gains from equity stakes, making results less predictable than those of a conventional lender.
For the fiscal first quarter ended June 30th, 2026, total investment income rose 12.6% sequentially to $28.4 million.
Adjusted net investment income increased to $10.4 million, or $0.26 per share, from $7.9 million, or $0.20 per share, in the previous quarter.
Net asset value declined to $16.24 per share from $16.78, reflecting unrealized depreciation, a realized loss, and shareholder distributions.
The investment portfolio totaled about $1.28 billion across 29 companies, while new commitments to DHE and Global GRAB expanded the portfolio after quarter-end.
Management also agreed to sell portfolio company SFEG, a transaction expected to generate a meaningful realized gain if completed.
GAIN continues to pay a regular monthly distribution of $0.08 per share, or $0.24 per quarter, though special distributions have made total income lumpy over time.
The stock’s 14.4% trailing return is strong, but the 2.7% expected return indicates that current valuation and prospective growth offer a less compelling forward setup.
Best Performing Monthly Dividend Stock #7: Olympia Financial Group Inc. (OLYFF)
- Annualized 10-Year Total Return: 15.6%
- Expected Total Return: 8.0%
Olympia Financial Group Inc. provides specialized financial administration services through businesses focused on self-directed registered plans, corporate trust work, health spending accounts, and technology for private-capital markets.
Its fee-based trust operations handle non-traditional assets that many large banks do not serve, creating a defensible niche but also meaningful sensitivity to transaction activity and interest income.
In the first quarter of 2026, revenue from continuing operations was C$16.1 million, down 8% year over year, while net earnings from continuing operations fell 40% to C$3.4 million.
Lower interest and other income more than offset a 10% increase in service revenue, and expenses rose 4%.
Olympia subsequently sold its currency and global-payments businesses to Shift Connect and also completed the sale of Raisr, sharpening its focus on core trust and administration operations.
The company is also simplifying its management structure and pursuing a federal trust continuance, which could reduce organizational complexity and compensation costs.
Importantly for income investors, Olympia reduced its monthly dividend from C$0.60 to C$0.50 beginning with the June payment, lowering the annualized rate to C$6.00 per share.
That reset interrupts the prior payout level, but the SARD model still estimates an 8.0% annual return compared with the stock’s 15.6% trailing return.
Best Performing Monthly Dividend Stock #6: Paramount Resources Ltd. (PRMRF)
- Annualized 10-Year Total Return: 16.0%
- Expected Total Return: -4.0%
Paramount Resources Ltd. is a Canadian oil and natural gas producer whose streamlined asset base is centered on the Kaybob region and the Willesden Green Duvernay in Alberta.
Following a major asset sale, the company is investing heavily to rebuild production around its remaining core lands and newly expanded processing infrastructure.
Second-quarter 2026 production averaged 47,279 barrels of oil equivalent per day, while adjusted funds flow reached C$175.6 million, or C$1.21 per share.
Net income was C$68.3 million, or C$0.47 per share, but free cash flow was negative C$128.5 million because capital spending totaled C$296.7 million.
Management raised full-year production guidance to 51,000 to 53,000 barrels of oil equivalent per day after starting Phase 2 of the Alhambra plant in June.
Encouraging Sinclair well tests and a larger core land position support Paramount’s plan for 60,000 to 65,000 barrels per day in 2027 and an exit rate above 100,000.
The regular dividend remains C$0.05 per share monthly, while the separate July distribution of AKITA Drilling shares was an in-kind return of capital rather than a recurring cash payment.
Despite a 16.0% annualized trailing return, the -4.0% expected return reflects the stock’s valuation and the execution risk embedded in this capital-intensive growth plan.
Best Performing Monthly Dividend Stock #5: Capital Southwest Corporation (CSWC)
- Annualized 10-Year Total Return: 16.3%
- Expected Total Return: 8.2%
Capital Southwest Corporation is an internally managed business development company that lends primarily to U.S. lower-middle-market companies through senior secured debt, supplemented by selective equity investments.
Its internally managed structure supports operating leverage as the portfolio grows, while its heavy first-lien exposure is intended to limit credit losses.
For the fiscal first quarter ended June 30th, 2026, total investment income was $61.0 million and pre-tax net investment income was $35.0 million, or $0.57 per share.
The portfolio reached $2.2 billion at fair value, with 99% of debt investments in first-lien positions and a weighted-average yield of 10.9%.
Capital Southwest originated $222.3 million of new commitments during the quarter, although non-accruals increased to 1.1% of portfolio fair value and deserve monitoring.
Net asset value ended the period at $16.61 per share, and the CapTrin joint venture provides an additional avenue for portfolio growth.
The company paid $0.64 per share for the quarter, consisting of a $0.58 regular dividend delivered monthly and a $0.06 supplemental dividend.
It declared the same total for the following quarter and retained $0.87 per share of undistributed taxable income, which provides some support for supplemental payments.
CSWC’s 16.3% trailing return is paired with a still-attractive 8.2% expected return, though credit quality and lower base rates remain key variables.
Best Performing Monthly Dividend Stock #4: Extendicare Inc. (EXETF)
- Annualized 10-Year Total Return: 17.0%
- Expected Total Return: -9.8%
Extendicare Inc. provides long-term care, home health care, and management services across Canada through its owned homes, ParaMed operations, and third-party service platforms.
Its scale increased materially after the April acquisition of CBI Home Health, making home care a much larger part of the company’s earnings mix.
Second-quarter 2026 revenue rose 59% to C$611.0 million, while adjusted EBITDA increased 72% to C$68.3 million and represented 11.2% of revenue.
Net operating income advanced 57% to C$86.2 million, supported by the CBI contribution, higher long-term-care occupancy, funding increases, and organic growth in home health care.
Adjusted funds from operations were C$36.5 million, or C$0.382 per share, and would have been C$42.9 million excluding a one-time tax withholding tied to deferred share units.
Long-term-care occupancy reached 98.0%, while home-health average daily volumes increased 133% due largely to the acquisition.
Extendicare raised its monthly dividend 5% earlier this year to C$0.0441 per share, and the second-quarter AFFO payout ratio was a manageable 34% before the noted adjustment.
The operating momentum is strong, but the stock’s 17.0% annualized trailing return contrasts sharply with the -9.8% expected return, indicating substantial valuation risk after its advance.
Best Performing Monthly Dividend Stock #3: Exchange Income Corporation (EIFZF)
- Annualized 10-Year Total Return: 18.5%
- Expected Total Return: -3.9%
Exchange Income Corporation owns a diversified group of aviation, aerospace, and manufacturing businesses serving remote communities, government customers, and specialized industrial markets.
Its decentralized acquisition model combines essential-service aviation with niche manufacturing, producing recurring cash flow while creating integration and leverage considerations.
Second-quarter 2026 revenue increased 32% to C$952 million, while adjusted EBITDA rose 28% to C$226 million.
Net earnings advanced to C$57 million, or C$1.01 per share, and adjusted earnings reached C$64 million, or C$1.13 per share.
Free cash flow grew 30% to C$161 million, and free cash flow less maintenance capital expenditures increased 29% to C$74 million.
Canadian North and Mach2 contributed to the quarter, while new Air Greenland and SkyAlyne agreements added visibility to the company’s longer-term aviation and training pipeline.
Management raised 2026 adjusted EBITDA guidance to C$890 million to C$920 million as operating performance exceeded its prior expectations.
Exchange Income also increased its monthly dividend from C$0.23 to C$0.24 per share, lifting the annualized payout to C$2.88, with payout ratios improving as cash flow expanded.
The business is performing well, but its 18.5% trailing return and -3.9% expected return show that the market price already discounts considerable growth.
Best Performing Monthly Dividend Stock #2: Permian Basin Royalty Trust (PBT)
- Annualized 10-Year Total Return: 21.7%
- Expected Total Return: -24.5%
Permian Basin Royalty Trust owns a 75% net overriding royalty interest in the Waddell Ranch properties and a 95% interest in the Texas Royalty properties.
The trust is a passive vehicle that cannot add assets or control drilling and expenses, making its monthly cash distributions highly sensitive to commodity prices, production, and operator spending.
For the first quarter of 2026, royalty income increased to $3.6 million from $3.1 million a year earlier, while distributable income was about $3.0 million, or about $0.06 per unit.
A $1.1 million settlement installment from Waddell operator Blackbeard helped offset weaker realized oil and natural gas prices during the period.
The July distribution was $0.043566 per unit, but it included another $1.1 million settlement payment and therefore does not represent a normal recurring run rate.
Waddell Ranch made no contribution because production costs exceeded gross proceeds, leaving an excess-cost balance that must be recovered before those properties resume distributions.
PBT’s payments are variable royalty distributions, not a stable dividend, and total distributions through July were only $0.191547 per unit.
The trust’s 21.7% annualized 10-year return ranks second, but the exceptionally weak -24.5% expected return reflects a low current yield, extreme valuation, and the natural decline of a static asset base.
Best Performing Monthly Dividend Stock #1: Bird Construction Inc. (BIRDF)
- Annualized 10-Year Total Return: 24.5%
- Expected Total Return: 8.4%
Bird Construction Inc. provides construction, engineering, and maintenance services across Canadian infrastructure, industrial, institutional, and commercial markets.
Its broad project mix, growing self-perform capabilities, and long-term maintenance work have helped reduce reliance on any single end market.
Bird reported second-quarter 2026 revenue of C$1.04 billion, up 22.6% year over year and above C$1 billion in a quarter for the first time.
Net income rose to C$30.3 million, or C$0.55 per share, while adjusted earnings increased to C$0.70 per share and adjusted EBITDA advanced to C$73.9 million.
The adjusted EBITDA margin expanded to 7.1% from 6.5%, demonstrating improved profitability as the company scaled.
Combined backlog and pending backlog totaled roughly C$12.1 billion, supported by about C$1 billion of recent awards and a strategic Bell AI Fabric partnership.
This visibility supports Bird’s growth plan in infrastructure, nuclear, power, and data-center-related construction, though project execution remains essential.
The company declared monthly dividends of C$0.07 per share for August, September, and October and has increased its dividend for four consecutive years, while targeting an about 33% payout ratio.
Bird’s 24.5% annualized trailing return leads the group, and its 8.4% expected return remains one of the more appealing forward estimates in this backward-looking ranking.
Final Thoughts
Our ranking shows which monthly payers compounded share price gains most effectively over the past decade, but the forward outlook is far less uniform.
Bird Construction and Capital Southwest pair strong trailing records with solid expected returns, while several other names now carry modest or negative projections despite excellent historical performance.
The presence of Permian Basin Royalty Trust and Sabine Royalty Trust also shows how commodity cycles and variable distributions can produce impressive backward-looking results that may not be repeatable.
Ultimately, a monthly payment schedule is a useful income feature, but it does not improve the underlying economics of a security.
Comparing each company’s 10-year record with its expected return, dividend coverage, balance sheet, and growth runway provides a clearer view of which past winners may still have attractive prospects.
Further Reading
If you are interested in finding high-quality dividend growth stocks and/or other high-yield securities and income securities, the following Sure Dividend resources will be useful:
Other Sure Dividend Resources
- Dividend Champions: 25+ years of rising dividends
- Dividend Aristocrats: 25+ years of rising dividends and in the S&P 500
- High Dividend Stocks: 4%+ dividend yields
- Monthly Dividend Stocks: Individual securities that pay out every month
- MLPs: List of MLPs and more
- REITs: List of REITs and more
- BDCs: List of BDCs and more