Updated on September 20th, 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: Paramount Resources Ltd. (PRMRF)
- Best Performing Monthly Dividend Stock #6: Capital Southwest Corporation (CSWC)
- Best Performing Monthly Dividend Stock #5: Olympia Financial Group Inc. (OLYFF)
- Best Performing Monthly Dividend Stock #4: Exchange Income Corporation (EIFZF)
- Best Performing Monthly Dividend Stock #3: Extendicare Inc. (EXETF)
- 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: 13.4%
- Expected Total Return: 5.9%
Savaria Corporation makes stairlifts, home elevators, wheelchair lifts, and patient-handling products for people with limited mobility.
Its established dealer network and the aging populations it serves give its Accessibility and Patient Care businesses room to grow.
Savaria reported second-quarter 2026 revenue of C$245.8 million, up 8.4%, including 6.6% organic growth.
Adjusted EBITDA increased 10.7% to C$51.8 million, lifting the adjusted margin to 21.1%, while diluted earnings rose to C$0.34 per share from C$0.23.
Accessibility revenue grew 8.7%, and Patient Care revenue advanced 7.3% as both divisions contributed to the improvement.
The July purchase of Italy-based Vipal adds elevator manufacturing capacity and expands Savaria’s European reach.
Management maintained its 2030 ambition of approximately C$1.6 billion in annual revenue and an adjusted EBITDA margin of at least 20%.
Savaria pays a monthly dividend of C$0.0467 per share and has increased its annual dividend for 13 consecutive years.
Net debt of less than one times adjusted EBITDA at midyear also gives the company flexibility to pursue its expansion.
Its 13.4% annualized historical return ranks tenth, while we estimate a 5.9% forward annual return.
Execution on acquisitions and valuation are important as investors assess whether recent growth can continue.
Best Performing Monthly Dividend Stock #9: Sabine Royalty Trust (SBR)
- Annualized 10-Year Total Return: 16.1%
- Expected Total Return: 0.9%
Sabine Royalty Trust collects oil and natural gas royalties from properties in six U.S. states and distributes most of the cash it receives.
It does not operate wells or buy replacement properties, so production volumes, energy prices, and the timing of royalty receipts determine its monthly payments.
The trust reported stronger second-quarter 2026 distributable cash flow per unit than a year earlier as higher production and realized prices contributed.
Even so, the September distribution fell to $0.331680 per unit from $0.619430 in August.
The trustee attributed that decline mainly to lower oil and natural gas production and weaker oil pricing, partially offset by higher gas prices.
The amount reflects June oil output primarily and May gas output, illustrating the lag between well production and the cash paid to unitholders.
These payments are variable trust distributions, rather than a corporate dividend supported by a commitment to annual increases.
Sabine has outlasted the reserve horizon projected when the trust was formed in 1983.
Its 16.1% annualized 10-year total return reflects strong commodity-linked cash receipts over the past decade.
We estimate only a 0.9% annual return from the current price, however, because valuation and gradual depletion offset much of the income potential.
Investors should evaluate production and distribution notices instead of assuming any recent monthly amount will persist.
Best Performing Monthly Dividend Stock #8: Gladstone Investment Corporation (GAIN)
- Annualized 10-Year Total Return: 16.9%
- Expected Total Return: 5.7%
Gladstone Investment Corporation lends to and takes equity stakes in U.S. lower-middle-market businesses, primarily through buyout transactions.
Interest payments can provide recurring income, while gains on the equity stakes may fund irregular supplemental distributions.
In its fiscal first quarter ended June 30th, 2026, total investment income increased 12.6% sequentially to $28.4 million.
Adjusted net investment income rose to $0.26 per share from $0.20, covering the $0.24 per share of regular distributions paid during the quarter.
However, net asset value declined from $16.78 to $16.24 per share after unrealized depreciation, a realized loss, and distributions.
The investment portfolio stood at $1.28 billion across 29 companies at quarter-end.
Gladstone subsequently provided further capital to its Global GRAB investment to support the September purchase of Barrier1 Systems, broadening that company’s physical-security product range.
Its regular monthly dividend remains $0.08 per share, although past special payments should not be treated as recurring income.
A proposed sale of portfolio company SFEG could produce a realized gain if the transaction closes.
The stock delivered a 16.9% annualized 10-year return; we estimate a 5.7% annual return going forward.
Credit quality and the value eventually realized from its equity stakes remain crucial to both dividend coverage and future returns.
Best Performing Monthly Dividend Stock #7: Paramount Resources Ltd. (PRMRF)
- Annualized 10-Year Total Return: 16.9%
- Expected Total Return: -1.5%
Paramount Resources Ltd. produces oil and natural gas in Alberta, mainly in its Kaybob and Willesden Green Duvernay areas.
After selling most of its earlier operations to Ovintiv, it paid a large special dividend and began rebuilding output from a much smaller asset base.
Second-quarter 2026 production averaged 47,279 barrels of oil equivalent per day as its Alhambra processing expansion supported growth.
Adjusted funds flow reached C$175.6 million, or C$1.21 per share, and net earnings were C$68.3 million.
Free cash flow was negative C$128.5 million because the company spent C$296.7 million on its development program.
Management increased its full-year production outlook to 51,000–53,000 barrels of oil equivalent per day.
Promising Sinclair well results and more processing capacity support its longer-term production plan, though drilling returns remain sensitive to commodity prices.
Paramount currently pays a regular C$0.05-per-share monthly cash dividend.
Its separate distribution of AKITA Drilling shares in July was a noncash return of capital and should not be confused with the ongoing monthly payment.
The annualized historical return is 16.9%, compared with our estimated forward return of -1.5%.
Heavy spending, the scale of the production ramp, and a demanding valuation are the key reasons past performance may not repeat.
Best Performing Monthly Dividend Stock #6: Capital Southwest Corporation (CSWC)
- Annualized 10-Year Total Return: 17.9%
- Expected Total Return: 9.4%
Capital Southwest Corporation is an internally managed business development company that primarily finances U.S. lower-middle-market businesses.
Most of its debt investments are first-lien secured loans, supplemented by equity positions and its CapTrin joint venture.
For the fiscal quarter ended June 30th, 2026, total investment income increased to $61.0 million from $57.8 million in the previous quarter.
Pre-tax net investment income was $35.0 million, or $0.57 per share, compared with $0.59 per share previously.
The portfolio expanded to about $2.2 billion across 141 companies after $222.3 million of new commitments.
Cash income represented 92% of investment income, while non-accrual assets were 1.1% of portfolio fair value.
These credit indicators merit attention because a modest change in borrowers’ health can affect dividend coverage.
Capital Southwest pays a regular monthly dividend of approximately $0.1934 per share, equivalent to $0.58 over a quarter.
A further $0.06-per-share supplemental dividend brought the most recent quarterly total to $0.64, but supplemental payments are discretionary.
The company retained $0.87 per share in undistributed taxable income at quarter-end, providing some support for future distributions.
Its 17.9% annualized 10-year return compares with our 9.4% estimated forward return.
The forward case depends on credit quality, investment yields, and maintaining the regular monthly payment.
Best Performing Monthly Dividend Stock #5: Olympia Financial Group Inc. (OLYFF)
- Annualized 10-Year Total Return: 18.2%
- Expected Total Return: 2.6%
Olympia Financial Group Inc. administers self-directed accounts, corporate trust services, and other specialized financial products in Canada.
Its niche includes private securities and other assets that traditional banks often do not handle, but earnings depend partly on interest received on client cash.
In second-quarter 2026 results, revenue declined 11% year over year, and net earnings from continuing operations fell 35%.
Lower interest income on funds held in trust and softer service revenue outweighed the recurring fees from its administration platform.
Following the sale of its currency and payments businesses and the Raisr transaction, management is concentrating the company around core trust operations.
Olympia also proposed a debt-funded reorganization to terminate legacy management agreements and reduce future executive compensation.
That proposal still requires investors to assess financing costs and the timing of any savings.
Most importantly for income investors, Olympia reduced its monthly dividend from C$0.60 to C$0.50 per share beginning with the June payment.
That leaves a C$6.00 annualized cash payout and breaks the prior dividend level despite the stock’s strong historical performance.
Its annualized 10-year return of 18.2% places it fifth, while we estimate only a 2.6% annual return ahead.
The Canadian listing offers more trading liquidity than its U.S. over-the-counter shares, and future income will depend on earnings recovery.
Best Performing Monthly Dividend Stock #4: Exchange Income Corporation (EIFZF)
- Annualized 10-Year Total Return: 18.3%
- Expected Total Return: -0.2%
Exchange Income Corporation owns aviation, aerospace, and niche manufacturing businesses serving remote communities and specialist industrial customers.
Its acquisition-led strategy has broadened the business, while making integration discipline and leverage important to its dividend outlook.
Second-quarter 2026 revenue rose 32% to approximately C$952 million, and adjusted EBITDA increased 28% to about C$226 million.
Adjusted earnings grew to C$1.13 per share as Canadian North, Mach2, and stronger aviation operations contributed.
Management raised its 2026 adjusted EBITDA guidance to C$890 million–C$920 million after the strong first half.
In August, Exchange Income agreed to buy Canadian access-matting provider TerraPro for C$30 million, subject to shareholder and court approval.
The planned transaction would expand its Environmental Access Solutions business and was expected to close early in the fourth quarter.
Management also raised the monthly dividend from C$0.23 to C$0.24 per share, making the annualized payment C$2.88.
The company has paid monthly dividends since 2004 and recently confirmed the higher rate for September.
Its 18.3% annualized trailing return is appealing, but we estimate a -0.2% annual return from today’s valuation.
Strong operations therefore need to be weighed against the price investors now pay for growth and the risks of further acquisitions.
Best Performing Monthly Dividend Stock #3: Extendicare Inc. (EXETF)
- Annualized 10-Year Total Return: 18.8%
- Expected Total Return: -8.1%
Extendicare Inc. provides long-term care, home health care, and management services across Canada.
It enlarged its home-care operations with the acquisition of CBI Home Health, adding a significant new source of revenue and integration work.
In second-quarter 2026 results, revenue increased 59.4% to approximately C$611 million, including a substantial CBI contribution.
Adjusted EBITDA rose 72% to C$68.3 million, aided by higher long-term-care occupancy, funding increases, and home-care demand.
Adjusted funds from operations were C$36.5 million, or C$0.382 per share, though a one-time tax withholding reduced the reported figure.
Long-term-care occupancy reached 98.0%, while home-health daily volumes increased sharply after the acquisition.
Management financed part of the expansion through a senior unsecured notes offering, making interest expense and integration performance worth monitoring.
Extendicare raised its monthly dividend by 5% in March to C$0.0441 per share.
Its second-quarter adjusted funds from operations payout ratio was about 34%, before accounting for the reported one-time adjustment.
The stock’s 18.8% annualized 10-year return ranks third, but we estimate a forward return of -8.1% annually.
That difference reflects a demanding share valuation despite the company’s recent operational progress and higher monthly dividend.
Best Performing Monthly Dividend Stock #2: Permian Basin Royalty Trust (PBT)
- Annualized 10-Year Total Return: 24.1%
- Expected Total Return: -24.0%
Permian Basin Royalty Trust receives cash from a 75% net overriding royalty interest in Waddell Ranch and a 95% interest in other Texas royalty properties.
Unlike an operating oil company, the trust cannot freely acquire new producing assets or control drilling and development costs.
Second-quarter 2026 royalty income increased to $4.16 million from $3.09 million a year earlier, while distributable income rose to about $0.08 per unit.
Nevertheless, its September cash distribution was only $0.019593 per unit, with Waddell Ranch contributing nothing because production costs still exceeded proceeds.
Accumulated excess costs must be recovered before that property can resume cash contributions to the trust.
SoftVest and Blackbeard have proposed combining trust assets with additional land and mineral interests in a newly traded corporation.
The proposal remains subject to a unitholder vote; the trust and its trustee are not parties to the combination agreement.
That uncertainty makes historical distribution patterns particularly difficult to project and could change the security’s future structure.
Its payments are variable royalty distributions, not a fixed or steadily growing corporate dividend.
Despite a 24.1% annualized trailing return, we estimate a -24.0% annual return based on the current standalone valuation.
The proposed combination could materially alter that forward case, so investors should follow official transaction documents and monthly trustee notices.
Best Performing Monthly Dividend Stock #1: Bird Construction Inc. (BIRDF)
- Annualized 10-Year Total Return: 26.8%
- Expected Total Return: 9.0%
Bird Construction Inc. provides Canadian construction, engineering, and maintenance services across industrial, infrastructure, and institutional projects.
It has expanded its self-perform work and project mix to improve margins while pursuing transportation, power, and other complex developments.
In second-quarter 2026 results, revenue increased 22.6% to about C$1.04 billion, surpassing 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 EBITDA advanced to C$73.9 million.
The adjusted EBITDA margin expanded to 7.1% from 6.5% as project execution improved.
Contracted backlog reached a record level, and pending awards provided additional work visibility beyond projects already booked.
Bird declared C$0.07-per-share monthly dividends for August, September, and October and has raised its annual dividend for four consecutive years.
Management targets a long-term payout ratio of roughly one-third of earnings, although construction profits can still fluctuate with project delivery.
Its 26.8% annualized historical total return puts it first on this list; we estimate a 9.0% annual forward return.
The investment case rests on converting the enlarged backlog into cash while protecting margins as the business scales.
A high share valuation leaves less room for cost overruns or delays than its historical compounding alone might suggest.
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 positive expected returns, while Extendicare, Exchange Income, Paramount Resources, and Permian Basin Royalty Trust have negative forward estimates 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.
In fact, Permian Basin’s proposed restructuring adds another source of uncertainty.
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 Kings: 50+ years of rising dividends
- 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
- Royalty Stocks: Detailed royalty stocks list
- MLPs: Detailed MLP list
- REITs: Detailed REIT list
- BDCs: Detailed BDC list