Sure Dividend

High-Quality Dividend Stocks, Long-Term Plan
Member's Area

2025 Monthly Dividend Stocks List | See All 75 Now | Yields Up To 18.0%


Updated on March 6th, 2025 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 77 individual monthly paying securities. It includes the following resources.

Resource #1: The Monthly Dividend Stock Spreadsheet List

 

Click here to instantly download your free spreadsheet of all monthly dividend stocks now, along with important investing metrics.

This list contains important metrics, including: dividend yields, payout ratios, dividend growth rates, 52-week highs and lows, betas, 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:

  1. Agree Realty (ADC)
  2. AGNC Investment (AGNC)
  3. Atrium Mortgage Investment Corporation (AMIVF)
  4. Apple Hospitality REIT, Inc. (APLE)
  5. ARMOUR Residential REIT (ARR)
  6. A&W Revenue Royalties Income Fund (AWRRF)
  7. Banco Bradesco S.A. (BBD)
  8. Diversified Royalty Corp. (BEVFF)
  9. Boston Pizza Royalties Income Fund (BPZZF)
  10. Bridgemarq Real Estate Services (BREUF)
  11. BSR Real Estate Investment Trust (BSRTF)
  12. Canadian Apartment Properties REIT (CDPYF)
  13. ChemTrade Logistics Income Fund (CGIFF)
  14. Choice Properties REIT (PPRQF)
  15. Cross Timbers Royalty Trust (CRT)
  16. CT Real Estate Investment Trust (CTRRF)
  17. SmartCentres Real Estate Investment Trust (CWYUF)
  18. Dream Industrial REIT (DREUF)
  19. Dream Office REIT (DRETF)
  20. Dynex Capital (DX)
  21. Ellington Residential Mortgage REIT (EARN)
  22. Ellington Financial (EFC)
  23. EPR Properties (EPR)
  24. Exchange Income Corporation (EIFZF)
  25. Extendicare Inc. (EXETF)
  26. Flagship Communities REIT (MHCUF)
  27. First National Financial Corporation (FNLIF)
  28. Freehold Royalties Ltd. (FRHLF)
  29. Firm Capital Property Trust (FRMUF)
  30. Fortitude Gold (FTCO)
  31. Gladstone Capital Corporation (GLAD)
  32. Gladstone Commercial Corporation (GOOD)
  33. Gladstone Investment Corporation (GAIN)
  34. Gladstone Land Corporation (LAND)
  35. Global Water Resources (GWRS)
  36. Granite Real Estate Investment Trust (GRP.U)
  37. H&R Real Estate Investment Trust (HRUFF)
  38. Horizon Technology Finance (HRZN)
  39. Itaú Unibanco (ITUB)
  40. The Keg Royalties Income Fund (KRIUF)
  41. LTC Properties (LTC)
  42. Sienna Senior Living (LWSCF)
  43. Main Street Capital (MAIN)
  44. Modiv Inc. (MDV)
  45. Mullen Group Ltd. (MLLGF)
  46. Northland Power Inc. (NPIFF)
  47. NorthWest Healthcare Properties REIT (NWHUF)
  48. Orchid Island Capital (ORC)
  49. Oxford Square Capital (OXSQ)
  50. Permian Basin Royalty Trust (PBT)
  51. Phillips Edison & Company (PECO)
  52. Pennant Park Floating Rate (PFLT)
  53. Peyto Exploration & Development Corp. (PEYUF)
  54. Pine Cliff Energy Ltd. (PIFYF)
  55. Primaris REIT (PMREF)
  56. Paramount Resources Ltd. (PRMRF)
  57. PermRock Royalty Trust (PRT)
  58. Prospect Capital Corporation (PSEC)
  59. Permianville Royalty Trust (PVL)
  60. Pizza Pizza Royalty Corp. (PZRIF)
  61. Realty Income (O)
  62. RioCan Real Estate Investment Trust (RIOCF)
  63. Richards Packaging Income Fund (RPKIF)
  64. Sabine Royalty Trust (SBR)
  65. Stellus Capital Investment Corp. (SCM)
  66. Savaria Corp. (SISXF)
  67. San Juan Basin Royalty Trust (SJT)
  68. SL Green Realty Corp. (SLG)
  69. Whitecap Resources Inc. (SPGYF)
  70. Slate Grocery REIT (SRRTF)
  71. Stag Industrial (STAG)
  72. Timbercreek Financial Corp. (TBCRF)
  73. Tamarack Valley Energy (TNEYF)
  74. U.S. Global Investors (GROW)
  75. 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 nearly 80 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: Realty Income (O)

Realty Income is a retail real estate focused REIT that has become famous for its successful dividend growth history and monthly dividend payments.

Realty Income owns retail properties that are not part of a wider retail development (such as a mall), but instead are standalone properties.

This means that the properties are viable for many different tenants, including government services, healthcare services, and entertainment.

Source: Investor Presentation

Realty Income reported third-quarter 2024 earnings, with EPS at $0.30, missing estimates by $0.06, but revenue of $1.27 billion, a 26% year-over-year increase, beat expectations by $10.01 million. Net income for common shareholders was $261.8 million.

The company generated $915.6 million in Adjusted Funds from Operations (AFFO), or $1.05 per share. Realty Income invested $740.1 million in new properties, achieving an initial average cash yield of 7.4%, while maintaining a portfolio occupancy of 98.7%.

Click here to download our most recent Sure Analysis report on Realty Income (preview of page 1 of 3 shown below):


Monthly Dividend Stock #9: Agree Realty (ADC)

Agree Realty is an integrated real estate investment trust (REIT) focused on ownership, acquisition, development, and retail property management.

Agree has developed over 40 community shopping centers throughout the Midwestern and Southeastern United States.

At the end of December 2024, the company owned and operated 2,370 properties located in 50 states, containing approximately 48.8 million square feet of gross leasable space.

Source: Investor Presentation

On February 11th, 2025, Agree Realty Corp. reported fourth quarter and full year results for Fiscal Year (FY) 2024. The company reported its fourth-quarter and full-year 2024 financial results, highlighting continued investment and steady growth.

In Q4, the company invested $371 million in 127 retail net lease properties and launched eight development projects with $45 million in committed capital. Net income per share declined 5.7% to $0.41, while Core FFO and AFFO per share increased 3.5% and 4.7%, respectively.

The company declared a December dividend of $0.253 per share, up 2.4% year-over-year, and raised $651 million through equity offerings, maintaining a strong balance sheet with a net debt-to-EBITDA ratio of 3.3 times.

Click here to download our most recent Sure Analysis report on ADC (preview of page 1 of 3 shown below):

Monthly Dividend Stock #8: EPR Properties (EPR)

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 portfolio includes about $7 billion in investments across 340+ locations in 44 states, including over 200 tenants.

Source: Investor Presentation

EPR posted fourth quarter and full-year earnings on February 26th, 2025, and results were better than expected on both the top and bottom lines.

Funds-from-operations came to $1.23, which was a penny ahead of estimates. Revenue was up 3% to $177 million, beating estimates by $16 million.

Adjusted FFO per-share was down from $1.29 in Q3, but higher from $1.16 in the year-ago period. Revenue was also down from Q3, but higher from the year-ago period.

Property operating expenses were $15.2 million, higher from $14.6 million in Q3, and $14.8 million a year ago. Adjusted EBITDAre of $136 million was lower from $143 million in Q3, but higher from $129 million last year.

Click here to download our most recent Sure Analysis report on EPR (preview of page 1 of 3 shown below):

Monthly Dividend Stock #7: PennantPark Floating Rate Capital (PFLT)

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 November 26, 2024, PennantPark Floating Rate Capital reported strong results for the fourth fiscal quarter of 2024, with core net investment income of $0.32 per share. The portfolio grew 20% quarter-over-quarter, reaching $2 billion as the firm deployed $446 million across 10 new and 50 existing companies.

Investments carried an average yield of 11%, reflecting the continued strength of the middle market lending environment. After the quarter, PFLT remained active, investing an additional $330 million at a yield of 10.2%.

Click here to download our most recent Sure Analysis report on PFLT (preview of page 1 of 3 shown below):

Monthly Dividend Stock #6: LTC Properties (LTC)

LTC Properties is a REIT that invests in senior housing and skilled nursing properties. Its portfolio consists of approximately 50% senior housing and 50% skilled nursing properties.

The REIT owns 194 investments in 26 states, with 31 operating partners.

Source: Investor Presentation

In late February, LTC reported (2/24/25) financial results for the fourth quarter of fiscal 2024. Funds from operations (FFO) per share dipped -8% over the prior year’s quarter, from $0.72 to $0.66, and missed the analysts’ consensus by $0.01.

The decrease in FFO per share resulted primarily from impairment losses. LTC improved its leverage ratio (Net Debt to EBITDA) from 4.7x to 4.3x thanks to various asset sales.

Click here to download our most recent Sure Analysis report on LTC (preview of page 1 of 3 shown below):

Monthly Dividend Stock #5: AGNC Investment Corp. (AGNC)

American Capital Agency Corp is a mortgage real estate investment trust that invests primarily in agency mortgage–backed securities (or MBS) on a leveraged basis.

The firm’s asset portfolio is comprised of residential mortgage pass–through securities, collateralized mortgage obligations (or CMO), and non–agency MBS. Many of these are guaranteed by government–sponsored enterprises.

AGNC Investment Corp. reported strong financial results for the third quarter ended September 30, 2024. The company achieved a comprehensive income of $0.63 per common share, driven by a net income of $0.39 and other comprehensive income of $0.24 from marked-to-market investments.

Net spread and dollar roll income contributed $0.43 per share. The tangible net book value increased by $0.42 per share to $8.82, reflecting a 5.0% growth from the previous quarter.

AGNC declared dividends of $0.36 per share, resulting in a 9.3% economic return on tangible common equity, which includes both dividends and the increase in net book value.

Click here to download our most recent Sure Analysis report on AGNC Investment Corp (AGNC) (preview of page 1 of 3 shown below):


Monthly Dividend Stock #4: STAG Industrial (STAG)

STAG Industrial is an owner and operator of industrial real estate. It is focused on single-tenant industrial properties and has ~560 buildings across 41 states in the United States.

The focus of this REIT on single-tenant properties might create higher risk compared to multi-tenant properties, as the former are either fully occupied or completely vacant.

Source: Investor Presentation

In mid-February, STAG Industrial reported (2/12/25) financial results for the fourth quarter of fiscal 2024. Core FFO-per-share grew 5% over the prior year’s quarter, from $0.58 to $0.61, exceeding the analysts’ consensus by $0.01, thanks to hikes in rent rates.

Net operating income grew 9% over the prior year’s quarter even though the occupancy rate dipped sequentially from 97.1% to 96.5%. On the other hand, interest expense increased 25% year-on-year due to high interest rates.

STAG expects core FFO per share of $2.46-$2.50 for 2025.

Click here to download our most recent Sure Analysis report on STAG Industrial Inc. (STAG) (preview of page 1 of 3 shown below):


Monthly Dividend Stock #3: Horizon Technology Finance (HRZN)

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.

Source: Investor Presentation

On October 29th, 2024, Horizon released its Q3 results for the period ending September 30th, 2024. For the quarter, total investment income fell 15.5% year-over-year to $24.6.7 million, primarily due to lower interest income on investments from the debt investment portfolio.

More specifically, the company’s dollar-weighted annualized yield on average debt investments in Q3 of 2024 and Q3 of 2023 was 15.9% and 17.1%, respectively.

Net investment income per share (IIS) fell to $0.32, down from $0.53 compared to Q3-2023. Net asset value (NAV) per share landed at $9.06, down from $9.12 sequentially.

After paying its monthly distributions, Horizon’s undistributed spillover income as of June 30th, 2024 was $1.27 per share, indicating a considerable cash cushion.

Click here to download our most recent Sure Analysis report on HRZN (preview of page 1 of 3 shown below):

Monthly Dividend Stock #2: Itau Unibanco (ITUB)

Itaú Unibanco Holding S.A. is headquartered in Sao Paulo, Brazil. The bank has operations across South America and other places like the United States, Portugal, Switzerland, China, Japan, etc.

On November 5th, 2024, Itaú Unibanco reported third-quarter results for 2024. The company reported recurring managerial result for the third quarter of 2024 was approximately $2.1 billion USD, reflecting a 6.0% increase from the previous quarter.

The recurring managerial return on equity stood at 22.7% on a consolidated basis and 23.8% for operations in Brazil.

Total assets grew by 2.6%, surpassing $590 billion USD, while the loan portfolio increased by 1.9% globally and 2.1% in Brazil for the quarter, with year-on-year growth rates of 9.9% and 10.0%, respectively.

Key drivers included personal, vehicle, and mortgage loans, which saw quarterly growth rates of 3.1%, 3.0%, and 3.9%, respectively.

Click here to download our most recent Sure Analysis report on ITUB (preview of page 1 of 3 shown below):

Monthly Dividend Stock #1: Ellington Credit Co. (EARN)

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.

Source: Investor Presentation

On November 12th, 2024, Ellington Residential reported its third quarter results for the period ending September 30th, 2024. The company generated net income of $5.4 million, or $0.21 per share.

Ellington achieved adjusted distributable earnings of $7.2 million in the quarter, leading to adjusted earnings of $0.28 per share, which covered the dividend paid in the period.

Net interest margin was 5.22% overall. At quarter end, Ellington had $25.7 million of cash and cash equivalents, and $96 million of other unencumbered assets.

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.

Monthly Dividend Stock Performance
In February 2025, a basket of the monthly dividend stocks above generated negative returns of -18.4%. For comparison, the Russell 2000 ETF (IWM) generated negative returns of -8.3% for the month.

Notes: Data for performance is from Ycharts. Canadian company performance may be in the company’s home currency. 

Monthly dividend stocks under-performed the Russell 2000 last month. We will update our performance section monthly to track future monthly dividend stock returns.

In February 2025, the 3 best-performing monthly dividend stocks (including dividends) were:

The 3 worst-performing monthly dividend stocks (including dividends) in the month were:

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:

Monthly vs Quarterly Compounding Over 40 Years

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.

 

Click here to instantly download your free spreadsheet of all monthly dividend stocks now, along with important investing metrics.

Additionally, see the resources below for more compelling investment ideas for dividend growth stocks and/or high-yield investment securities.

Thanks for reading this article. Please send any feedback, corrections, or questions to support@suredividend.com.



articles
Golden Rule Commitment
contact - legal - testimonials