Updated on January 6th, 2026 by Bob Ciura
Spreadsheet data updated daily
Monthly dividend stocks are securities that pay a dividend every month instead of quarterly or annually.
This research report focuses on all 83 individual monthly paying securities. It includes the following resources.
Resource #1: The Monthly Dividend Stock Spreadsheet List
This list contains important metrics, including: dividend yields, payout ratios, dividend growth rates, 52-week highs and lows, and more.
Note: We strive to maintain an accurate list of all monthly dividend payers. There’s no universal source we are aware of for monthly dividend stocks; we curate this list manually. If you know of any stocks that pay monthly dividends that are not on our list, please email support@suredividend.com.
Resource #2: The Monthly Dividend Stocks In Focus Series
The Monthly Dividend Stocks In Focus series is where we analyze all monthly paying dividend stocks. This resource links to stand-alone analysis on each of these securities.
Resource #3: The 10 Best Monthly Dividend Stocks
This research report analyzes the 10 best monthly dividend stocks as ranked by expected total return.
Resource #4: Other Monthly Dividend Stock Research
– Monthly dividend stock performance
– Why monthly dividends matter
– The dangers of investing in monthly dividend stocks
– Final thoughts and other income investing resources
The Monthly Dividend Stocks In Focus Series
You can see detailed analysis on the individual monthly dividend securities we cover by clicking the links below:
- Agree Realty (ADC)
- AGNC Investment (AGNC)
- Atrium Mortgage Investment Corporation (AMIVF)
- Apple Hospitality REIT, Inc. (APLE)
- ARMOUR Residential REIT (ARR)
- Banco Bradesco S.A. (BBD)
- Diversified Royalty Corp. (BEVFF)
- Boston Pizza Royalties Income Fund (BPZZF)
- Bridgemarq Real Estate Services (BREUF)
- BSR Real Estate Investment Trust (BSRTF)
- Canadian Apartment Properties REIT (CDPYF)
- Cardinal Energy Ltd. (CRLFF)
- ChemTrade Logistics Income Fund (CGIFF)
- Choice Properties REIT (PPRQF)
- Cross Timbers Royalty Trust (CRT)
- CT Real Estate Investment Trust (CTRRF)
- Chartwell Retirement Residences (CWSRF)
- SmartCentres Real Estate Investment Trust (CWYUF)
- Dynacor Group Inc (DNGDF)
- Dream Office REIT (DRETF)
- Dream Industrial REIT (DREUF)
- Dynex Capital (DX)
- Ellington Residential Mortgage REIT (EARN)
- Ellington Financial (EFC)
- EPR Properties (EPR)
- Exchange Income (EIFZF)
- Extendicare Inc. (EXETF)
- Flagship Communities REIT (MHCUF)
- First National Financial Corporation (FNLIF)
- Freehold Royalties Ltd. (FRHLF)
- Firm Capital Property Trust (FRMUF)
- Fortitude Gold (FTCO)
- Gladstone Capital Corporation (GLAD)
- Gladstone Commercial Corporation (GOOD)
- Gladstone Investment Corporation (GAIN)
- Gladstone Land Corporation (LAND)
- Global Water Resources (GWRS)
- Granite Real Estate Investment Trust (GRP.U)
- Grupo Aval Acciones y Valores S.A. (AVAL)
- Healthpeak Properties (DOC)
- H&R Real Estate Investment Trust (HRUFF)
- Horizon Technology Finance (HRZN)
- InPlay Oil Corp. (IPOOF)
- Itaú Unibanco (ITUB)
- LTC Properties (LTC)
- Sienna Senior Living (LWSCF)
- Main Street Capital (MAIN)
- Mesa Royalty Trust (MTR)
- Modiv Inc. (MDV)
- Mullen Group Ltd. (MLLGF)
- Northland Power Inc. (NPIFF)
- NorthWest Healthcare Properties REIT (NWHUF)
- Orchid Island Capital (ORC)
- Oxford Square Capital (OXSQ)
- Permian Basin Royalty Trust (PBT)
- Phillips Edison & Company (PECO)
- Pennant Park Floating Rate (PFLT)
- Peyto Exploration & Development Corp. (PEYUF)
- Pine Cliff Energy Ltd. (PIFYF)
- Primaris REIT (PMREF)
- Paramount Resources Ltd. (PRMRF)
- PermRock Royalty Trust (PRT)
- Prospect Capital Corporation (PSEC)
- Petrus Resources Ltd. (PTRUF)
- Permianville Royalty Trust (PVL)
- Pizza Pizza Royalty Corp. (PZRIF)
- Realty Income (O)
- RioCan Real Estate Investment Trust (RIOCF)
- Richards Packaging Income Fund (RPKIF)
- Sabine Royalty Trust (SBR)
- Stellus Capital Investment Corp. (SCM)
- Savaria Corp. (SISXF)
- San Juan Basin Royalty Trust (SJT)
- Sir Royalty Income Fund (SIRZF)
- SL Green Realty Corp. (SLG)
- Slate Grocery REIT (SRRTF)
- Stag Industrial (STAG)
- Surge Energy Inc. (ZPTAF)
- Timbercreek Financial Corp. (TBCRF)
- Tamarack Valley Energy (TNEYF)
- U.S. Global Investors (GROW)
- Whitecap Resources Inc. (WCPRF)
- Whitestone REIT (WSR)
The 10 Best Monthly Dividend Stocks
This research report examines the 10 monthly dividend stocks from our Sure Analysis Research Database with the highest 5-year forward expected total returns.
We currently cover almost all monthly dividend stocks every quarter in the Sure Analysis Research Database.
Use the table below to quickly jump to analysis on any of the top 10 best monthly dividend stocks as ranked by expected total returns.
Table of Contents
You can instantly jump to any specific section of the article by using the links below:
- Monthly Dividend Stock #10: Oxford Square Capital (OXSQ)
- Monthly Dividend Stock #9: Dynacor Group (DNGDF)
- Monthly Dividend Stock #8: PennantPark Floating Rate Capital (PFLT)
- Monthly Dividend Stock #7: EPR Properties (EPR)
- Monthly Dividend Stock #6: Orchid Island Capital (ORC)
- Monthly Dividend Stock #5: Itau Unibanco Holding S.A. (ITUB)
- Monthly Dividend Stock #4: Gladstone Commercial (GOOD)
- Monthly Dividend Stock #3: Horizon Technology Finance (HRZN)
- Monthly Dividend Stock #2: Healthpeak Properties (DOC)
- Monthly Dividend Stock #1: Ellington Credit Co. (EARN)
Monthly Dividend Stock #10: Oxford Square Capital (OXSQ)
- 5-Year Expected Total Return: 11.4%
Oxford Square Capital Corp. is a BDC (Business Development Company) specializing in financing early- and middle-stage businesses through loans and investments in collateralized loan obligations.
At the end of Q3, the total fair value of Oxford Square’s investment portfolio was about $260.5 million across its debt, CLO equity, and equity/other holdings, allocated about 54.5% to senior secured debt, 43.5% to CLO equity, and roughly 2% to equity or other investments. Last year, the BDC generated roughly $42.7 million in total investment income.
On November 6th, 2025, Oxford Square Capital reported its Q3. The company generated approximately $10.2 million in total investment income, essentially flat compared with $10.3 million in Q3 2024, as lower stated interest income from debt investments offset higher PIK income and stronger contributions from securitization vehicles.
The weighted average yield on debt investments increased slightly to 14.6% from 14.5% a year earlier. The weighted average yield on CLO equity investments stood at 9.7%, modestly higher than 9.6% in Q3 2024.
Total expenses were about $4.7 million, compared with $4.2 million in the prior-year period, primarily reflecting higher interest expense tied to the company’s outstanding unsecured notes.
Net investment income (NII) came in at $5.6 million, or $0.07 per share, versus $6.2 million, or $0.10 per share, in Q3 2024.
Click here to download our most recent Sure Analysis report on OXSQ (preview of page 1 of 3 shown below):
Monthly Dividend Stock #9: Dynacor Group (DNGDF)
- 5-Year Expected Total Return: 11.5%
Dynacor is a Canadian industrial gold processor with core operations in Peru, where it purchases ore from artisanal and small-scale miners and processes it at its wholly owned Veta Dorada plant in Chala.
The facility has a nameplate capacity of 430 tonnes per day and is optimized for continuous, high-efficiency throughput.
Dynacor’s model is unique in that it does not engage in exploration or mining, instead operating an extensive ore purchasing network across Peru to source high-grade feedstock.
The company operates a strong logistics network for collecting ore, runs its own labs for analysis, and handles gold exports with secure, reliable systems.
Dynacor also reinvests in expanding its supply network and enhancing plant capacity, while maintaining a lean cost structure and consistent production flow.
On November 11th, 2025, Dynacor reported its Q3 results. The company posted revenue of $100.5 million, up from $76.2 million last year, a 31.9% increase driven primarily by significantly higher realized gold prices, despite lower gold sales volumes tied to temporary ore supply disruptions earlier in the quarter.
Gold sales totaled 28,764 gold-equivalent ounces, down from 30,651 ounces in Q3 2024. The average selling price rose sharply to $3,494 per ounce, compared to $2,485 last year.
Net income was $5.5 million, slightly below the $5.9 million recorded in Q3 2024. EPS declined to $0.13 from $0.16. Operating margin was 11.7%, down from 13.6% last year, reflecting non-recurring reorganization expenses, higher general and administrative costs associated with international expansion, and lower production volumes.
Click here to download our most recent Sure Analysis report on DNGDF (preview of page 1 of 3 shown below):
Monthly Dividend Stock #8: PennantPark Floating Rate Capital (PFLT)
- 5-Year Expected Total Return: 11.6%
PennantPark Floating Rate Capital Ltd. is a business development company that seeks to make secondary direct, debt, equity, and loan investments.
The fund also aims to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies, equity securities, preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.
On August 11, 2025, PennantPark Floating Rate Capital reported results for the third fiscal quarter ended June 30, 2025, highlighting stable income generation and improved balance sheet flexibility.
The company posted GAAP net investment income of $0.25 per share, with core net investment income of $0.27 per share when excluding one-time items, comfortably covering its dividend.
Management enhanced liquidity by amending its revolving credit facility, lowering the interest rate to SOFR plus 200 basis points from SOFR plus 225, extending both the reinvestment period and final maturity by one year, and raising the first-lien advance rate to 72.5%.
These changes provide greater financing efficiency and room for future portfolio growth. Credit quality remained strong, with the weighted average leverage ratio of portfolio companies at 4.3 times debt-to-EBITDA and an interest coverage ratio of 2.5 times.
New platform investments during the quarter reflected even more conservative levels, averaging 3.8 times debt-to-EBITDA and 2.6 times interest coverage. The portfolio’s weighted average loan-to-value ratio was 46%, and its yield to maturity stood at 10.3%.
Nonaccruals were minimal at just 1% of cost and 0.5% of fair value, underscoring disciplined underwriting. PFLT also raised $32 million through its at-the-market equity program by issuing 2.8 million shares at an average price of $11.31 per share, strengthening capital resources.
In addition, the company and its joint venture, PSSL II, committed $200 million of equity and secured $300 million in financing, creating a $500 million vehicle focused on middle-market senior secured loans.
Click here to download our most recent Sure Analysis report on PFLT (preview of page 1 of 3 shown below):
Monthly Dividend Stock #7: EPR Properties (EPR)
- 5-Year Expected Total Return: 11.8%
EPR Properties is a specialty real estate investment trust, or REIT, that invests in properties in specific market segments that require industry knowledge to operate effectively.
It selects properties it believes have strong return potential in Entertainment, Recreation, and Education. The REIT structures its investments as triple net, a structure that places the operating costs of the property on the tenants, not the REIT.
The portfolio includes about $7 billion in investments across 300+ locations in 44 states, including over 250 tenants. Total revenue should be in excess of $700 million this year.
EPR posted third quarter earnings on October 29th, 2025, and results were largely in line with expectations. Adjusted FFO-per-share came to $1.37, which was three cents ahead of estimates.
FFO was up from $1.26 in Q2, and $1.29 in the year-ago period. Revenue was up 1% year-over-year to $182 million, in line with expectations.
Property operating expenses were $14.5 million, down from $14.7 million in Q2 and $14.6 million a year ago. Adjusted EBITDAre was $147 million, up from $138 million in Q2 and $143 million a year ago.
Investment spending was $54.5 million, while realized disposition proceeds were $19.3 million. The trust also committed $100 million in experiential development and redevelopment projects over the next 15 months.
Click here to download our most recent Sure Analysis report on EPR (preview of page 1 of 3 shown below):
Monthly Dividend Stock #6: Orchid Island Capital (ORC)
- 5-Year Expected Total Return: 11.9%
Orchid Island Capital is a mortgage REIT that is externally managed by Bimini Advisors LLC and focuses on investing in residential mortgage-backed securities (RMBS), including pass-through and structured agency RMBSs.
These financial instruments generate cash flow based on residential loans such as mortgages, subprime, and home-equity loans.
On October 23, 2025, Orchid Island Capital, Inc. reported estimated net income of $0.53 per common share for Q3 2025, with book value per share estimated at $7.33 as of September 30, 2025.
The company declared a monthly dividend of $0.12 per share for October, keeping consistent with its monthly payout strategy.
The RMBS portfolio and derivatives portfolio evolved as the company remained focused on agency residential mortgage-backed securities paired with hedging strategies.
Orchid Island highlighted that the investment backdrop remains attractive with improving spreads and prepayment risk manageable given the portfolio’s coupon distribution and hedges.
Prepayment activity remained a focal point, with management noting the need for continued vigilance given higher coupon pools and refinancing dynamics.
Click here to download our most recent Sure Analysis report on Orchid Island Capital, Inc. (ORC) (preview of page 1 of 3 shown below):
Monthly Dividend Stock #5: Itau Unibanco (ITUB)
- 5-Year Expected Total Return: 12.1%
Itaú Unibanco Holding S.A. is headquartered in Sao Paulo, Brazil. It is the world’s tenth-largest bank by market value, and the largest Latin American bank by assets and market capitalization.
The bank has operations across South America and other places like the United States, Portugal, Switzerland, China, Japan, etc.
Itaú currently employs over 96,000 people worldwide and has a market capitalization of $81.4 billion.
On November 4th, 2025, Itaú Unibanco reported third-quarter results for 2025. The company reported strong results for the first nine months of 2025, with a recurring result of R$33.1 billion (~$5.96 billion USD), up 8.8% year-over-year.
Its credit portfolio reached R$1.4 trillion (~$252 billion USD), expanding 6% in Brazil—driven by growth in both individual and corporate lending—although Latin America saw a 1.2% decline.
Recurring ROE remained high at 21.1%, reflecting continued profitability even in a slower macro environment.
Net interest income rose 13.8% to R$91.8 billion (~$16.5 billion USD) due to higher loan volumes and stronger interbank deposit revenues.
Operating efficiency also improved, with general and administrative expenses falling 4.8%, helped by reductions in non-financial product sales, legal provisions, and other costs.
Click here to download our most recent Sure Analysis report on ITUB (preview of page 1 of 3 shown below):
Monthly Dividend Stock #4: Gladstone Commercial (GOOD)
- 5-Year Expected Total Return: 13.6%
Gladstone Commercial Corporation is a real estate investment trust, or REIT, that specializes in single-tenant and anchored multi-tenant net leased industrial and office properties across the U.S.
The trust targets primary and secondary markets that possess favorable economic growth trends, growing populations, strong employment, and robust growth trends.
The trust’s stated goal is to pay shareholders monthly distributions, which it has done for more than 17 consecutive years. Gladstone owns over 100 properties in 24 states that are leased to about 100 unique tenants.
Gladstone posted third quarter earnings on November 4th, 2025, and results were mixed. The trust posted FFO-per-share of 35 cents, which was three cents light of estimates. Revenue was $40.84 million, beating expectations narrowly. For the nine months, FFO was $1.02 per share.
Same-store lease revenue was up 3.1% year-over-year in the nine-month period ending in September, which was due to an increase in recovery revenue from property expenses, as well as higher rental rates.
Gladstone sold 4.4 million shares of common stock under its at-the-money program, raising net proceeds of $61 million. It now has $6 million in cash and $63 million in available liquidity.
The dividend remains flat at $1.20 per share annually. Gladstone’s portfolio is 99.1% occupied, the highest level since the first quarter of 2019, and the weighted average lease term is 7.5 years.
Click here to download our most recent Sure Analysis report on GOOD (preview of page 1 of 3 shown below):
Monthly Dividend Stock #3: Horizon Technology Finance (HRZN)
- 5-Year Expected Total Return: 15.0%
Horizon Technology Finance Corp. is a BDC that provides venture capital to small and medium–sized companies in the technology, life sciences, and healthcare–IT sectors.
The company has generated attractive risk–adjusted returns through directly originated senior secured loans and additional capital appreciation through warrants.
On October 28th, 2025, Horizon announced its Q3 results. For the quarter, total investment income rose 6.9% year-over-year to $26.3 million, driven primarily by higher fee and interest income on investments from the debt portfolio.
The company’s dollar-weighted annualized yield on average debt investments in Q3 of 2025 and Q3 of 2024 was 18.6% and 15.9%, respectively.
Net investment income per share (IIS) remained flat year-over-year at $0.32. Net asset value (NAV) per share improved to $7.12, up from $6.75 in the prior quarter, but this was down from $9.12 in the prior year.
Horizon’s undistributed spillover income stood at $0.93 per share at quarter-end, maintaining a strong income cushion to support future dividends.
Click here to download our most recent Sure Analysis report on HRZN (preview of page 1 of 3 shown below):
Monthly Dividend Stock #2: Healthpeak Properties (DOC)
- 5-Year Expected Total Return: 18.8%
Healthpeak Properties is the largest healthcare REIT in the U.S., with 774 properties. It was the first healthcare REIT that was included in the S&P 500.
The REIT invests in life science facilities, senior houses, and medical offices, with 97% of its portfolio based on private-pay sources.
In late October, Healthpeak Properties reported (10/23/25) results for the third quarter of fiscal 2025. Same-property net operating income grew 9.4% over the prior year’s quarter thanks to strong growth in the segment of continuing care retirement community and FFO per share rose 2%, from $0.45 to $0.46.
Management still expects annual FFO per share of $1.81-$1.87..
Click here to download our most recent Sure Analysis report on DOC (preview of page 1 of 3 shown below):
Monthly Dividend Stock #1: Ellington Credit Co. (EARN)
- 5-Year Expected Total Return: 20.8%
Ellington Credit Co. acquires, invests in, and manages residential mortgage and real estate related assets. Ellington focuses primarily on residential mortgage-backed securities, specifically those backed by a U.S. Government agency or U.S. government–sponsored enterprise.
Agency MBS are created and backed by government agencies or enterprises, while non-agency MBS are not guaranteed by the government.
On November 19th, 2025, Ellington Credit reported its second fiscal quarter results for the period ending September 30, 2025. The company generated net income of $4.3 million, or $0.11 per share.
Ellington achieved adjusted net investment income of $8.5 million in the quarter, or $0.23 per share. At quarter end, Ellington had $20.1 million in cash and cash equivalents.
Click here to download our most recent Sure Analysis report on EARN (preview of page 1 of 3 shown below):
Other Monthly Dividend Stock Resources
Each separate monthly dividend stock has its own unique characteristics. The resources below will give you a better understanding of monthly dividend stock investing.
The following research reports will help you generate more monthly dividend stock investment ideas.
- 20 Highest Yielding Monthly Dividend Stocks
- 10 Cheapest Monthly Dividend Stocks
- 10 Safest Monthly Dividend Stocks
Monthly Dividend Stock Performance
In December 2025, a basket of the monthly dividend stocks above generated negative returns of -0.2%. For comparison, the Russell 2000 ETF (IWM) generated negative returns of -0.7% for the month.
Notes: Data for performance is from Ycharts. Canadian company performance may be in the company’s home currency.
Monthly dividend stocks out-performed the Russell 2000 last month. We will update our performance section monthly.
Why Monthly Dividends Matter
Monthly dividend payments are beneficial for one group of investors in particular; retirees who rely on dividend stocks for income.
With that said, monthly dividend stocks are better under all circumstances (everything else being equal), because they allow for returns to be compounded on a more frequent basis. More frequent compounding results in better total returns, particularly over long periods of time.
Consider the following performance comparison:
Over the long run, monthly compounding generates slightly higher returns over quarterly compounding. Every little bit helps.
With that said, it might not be practical to manually re-invest dividend payments on a monthly basis. It is more feasible to combine monthly dividend stocks with a dividend reinvestment plan to dollar cost average into your favorite dividend stocks.
The last benefit of monthly dividend stocks is that they allow investors to have – on average – more cash on hand to make opportunistic purchases. A monthly dividend payment is more likely to put cash in your account when you need it versus a quarterly dividend.
Case-in-point: Investors who bought a broad basket of stocks at the bottom of the 2008-2009 financial crisis are likely sitting on triple-digit total returns from those purchases today.
The Dangers of Investing In Monthly Dividend Stocks
Monthly dividend stocks have characteristics that make them appealing to do-it-yourself investors looking for a steady stream of income. Typically, these are retirees and people planning for retirement.
Investors should note many monthly dividend stocks are highly speculative. On average, monthly dividend stocks tend to have elevated payout ratios. An elevated payout ratio means there’s less margin for error to continue paying the dividend if business results suffer a temporary (or permanent) decline.
As a result, we have real concerns that many monthly dividend payers will not be able to continue paying rising dividends in the event of a recession.
Additionally, a high payout ratio means that a company is retaining little money to invest for future growth. This can lead management teams to aggressively leverage their balance sheet, fueling growth with debt. High debt and a high payout ratio is perhaps the most dangerous combination around for a potential future dividend reduction.
With that said, there are a handful of high-quality monthly dividend payers around. Chief among them is Realty Income (O). Realty Income has paid increasing dividends (on an annual basis) every year since 1994.
The Realty Income example shows that there are high-quality monthly dividend payers around, but they are the exception rather than the norm. We suggest investors do ample due diligence before buying into any monthly dividend payer.
Final Thoughts & Other Income Investing Resources
Financial freedom is achieved when your passive investment income exceeds your expenses. But the sequence and timing of your passive income investment payments can matter.
Monthly payments make matching portfolio income with expenses easier. Most personal expenses recur monthly whereas most dividend stocks pay quarterly. Investing in monthly dividend stocks matches the frequency of portfolio income payments with the normal frequency of personal expenses.
Additionally, many monthly dividend payers offer investors high yields. The combination of a monthly dividend payment and a high yield should be especially appealing to income investors.
But not all monthly dividend payers offer the safety that income investors need. A monthly dividend is better than a quarterly dividend, but not if that monthly dividend is reduced soon after you invest. The high payout ratios and shorter histories of most monthly dividend securities mean they tend to have elevated risk levels.
Because of this, we advise investors to look for high-quality monthly dividend payers with reasonable payout ratios, trading at fair or better prices.
Additionally, see the resources below for more compelling investment ideas for dividend growth stocks and/or high-yield investment securities.
- Dividend Kings: 50+ years of rising dividends
- Dividend Aristocrats: 25+ years of rising dividends and in the S&P 500
- High Dividend Stocks: 5%+ dividend yields