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The 10 Best Monthly Dividend Stocks For Income Investors

Sarah Foley - November 16, 2021

best dividend stocks

Many investors are unaware of the fact that monthly dividend stocks exist. The best monthly dividend stocks will reward you with an extra slice of income every 30 days.

There is a common misconception that stocks only offer dividend yields quarterly or annually.

However, it is possible to make a solid monthly dividend income from your stocks.

In this article, we’ll talk about the best monthly dividend stocks on the market.

Monthly dividends provide a consistent and reliable income stream.

You can use this income to build up your nest egg and prepare for retirement.

Let’s take a quick look at the best monthly dividend stocks that will provide you with a steady stream of income every 30 days.

Best Monthly Dividend Stocks

  • Gladstone Capital Corporation (NYSE: GLAD)
  • STAG Industrial (NYSE: STAG)

Gladstone Capital Corporation (NYSE: GLAD)

Gladstone Capital provides funds for smaller middle-market businesses.

Specifically, the company looks to enterprises that have revenues somewhere between $20 and $150 million.

It invests only in companies with a proven business model that are in the black.

Gladstone Capital provides an assortment of loans to these businesses and has been known to take on a minority share.

Although relatively small, Gladstone Capital has a diverse portfolio of businesses to work with.

These businesses represent over $3.4 billion in total assets.

It has seen healthy stock growth since the downturn of early 2020 and is up nearly 50% from last year at this time.

The company is part of a more extensive network, including Gladstone Commercial, Gladstone Land, and Gladstone Investment.

Each of these businesses has the potential to be a good dividend stock.

Gladstone Capital in particular pays out 6.29%.

STAG Industrial Logo. (PRNewsFoto/STAG Industrial, Inc.)

STAG Industrial (NYSE: STAG)

STAG Industrial is a real estate investment trust specializing in warehouses and light industrial properties.

The company’s primary focus is on distribution centers for large-scale national companies.

In total, STAG Industrial currently owns more than 500 buildings across nearly 40 states. 

A near majority of STAG’s portfolio consists of online ventures that need places to store products.

As more and more businesses move online, this puts STAG in an excellent position to succeed.

STAG is renting out buildings at healthy rates, boosting its revenue and dividend price in turn.

The company has more than made up for lost shares in 2020 and is now trading higher than ever before.

With a dividend of 3.40% and a real estate occupancy rate near 97%, Stag is an awfully tempting stock.

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Safe Monthly Dividend Stocks

  • Realty Income (NYSE: O)
  • LTC Properties (NYSE: LTC)

Realty Income (NYSE: O)

With a dividend of 3.97%, Realty Income is worthy of every investor’s consideration.

Realty Income owns roughly 7,000 properties in all 50 states, Puerto Rico, and the United Kingdom.

Most of these properties are single-tenant retail sites and represent around 650 different clients.

Realty Income minimizes its financial risk by maintaining a diverse portfolio.

The company is involved in key markets throughout the U.S. and also has clients in many different industries.

With stable business operations, Realty Income’s dividends will likely hold steady going forward.

Since it generally invests in standalone properties instead of malls, it has more versatility moving forward.

While malls have struggled over the past decade, standalone properties have plenty of potential.

A good portion of Realty Income’s properties are convenience stores and pharmacies in high-traffic areas.

Realty Income has paid over 600 monthly dividends in a row, so it has a history of consistent payments.

The company has also increased its dividends more than 100 times in the 26 years since its IPO.

Realty Income has even trademarked itself as the “Monthly Dividend Company”, which shows its commitment to paying its shareholders.

LTC Properties (NYSE: LTC)

LTC provides a dividend yield of 6.67%.

The company’s portfolio is split between skilled nursing facilities and senior housing (LTC stands for long-term care).

In total, LTC has more than 180 investments across nearly 30 states.

It serves as a landlord and does not operate these facilities.

Senior living took a hit during the pandemic with fears over conditions and safety.

However, as conditions return to normal, these facilities are rebounding.

The baby boomer generation is getting older, which bodes well for LTC in both the short and long term.

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This population covers those born from the late 1940s through 1960, and a majority of those people are just how considering long-term care.

The United States’ aging population bodes well for LTC’s industry in the years ahead.

LTC’s dividend accounts for three-quarters of their current budget.

This means that even if it loses realty income for its properties at any point, the dividend likely won’t be at risk. 

Monthly REIT Dividend Stocks

  • SL Green Realty (NYSE: SLG)
  • Whitestone REIT (NYSE: WSR)

SL Green Realty (NYSE: SLG)

SL Green Realty is a real estate investment trust (REIT) that owns and operates properties in Manhattan and the surrounding area.

In fact, SL Green is the largest commercial landlord in New York City. 

It owns nearly 80 buildings with a total of more than 35 million square feet.

SL Green has a market capitalization in excess of $5.0 billion and a current dividend yield of 4.92%. 

It saw a massive boost in income and earnings per share throughout the summer, a solid indication of success.

The stock price is still climbing out of the hole left from when the pandemic first hit.

That being said, shares have increased nearly 20% since last year at this time.

Occupancy rates appear to be on the rise and are still near 95%, indicating that companies are moving back in to physical offices.

SL Green has a robust business model, and they’re likely to remain a monthly dividend-paying company for years to come.

They focus on multi-year commercial leases and have a vast portfolio of properties throughout the city.

This sets them up for financial stability even in a challenging market.

Whitestone REIT (NYSE: WSR)

Whitestone is a REIT that focuses solely on retail spaces in Texas and Arizona.

Having started in 1998, the company now has approximately 60 properties with over 1,400 tenants.

Tenants primarily consist of the restaurant/food service industry, grocery, salons, financial services, and medical offices.

Whitestone not only owns but manages and develops these properties to best suit each community.

As it continues to grow, Whitestone recently acquired the Lakeside Market in Plano with plans to open the space in the fall of 2022.

The REIT’s share price has been somewhat cyclical but is up nearly 25% from this time last year.

Its third-quarter financial report revealed increases in revenue, net income, and earnings per share to boot.

Everything is stacking up favorably for Whitestone, and the company also pays out a monthly dividend yield of 4.44%.

Best Monthly Dividend Stocks With High Yield

  • Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN: CIK)
  • Dynex Capital, Inc. (NYSE: DX)

Credit Suisse Asset Management Income Fund, Inc. (NYSEAMERICAN: CIK)

The Credit Suisse Asset Management Income Fund offers a different stock market approach.

Here, you’re investing in an income fund instead of in the actual operations of a business.

This income fund’s team actively works to deliver returns from bonds back to investors.

Income funds trade on the stock market no different than common stock and can pay out significant dividends.

In the case of Credit Suisse Asset Management’s income fund, that dividend yield is 7.77%.

From a share price standpoint, the Credit Suisse Asset Management Income Fund has been on a slow increase ever since the stock market downturn in March of 2020.

Investing here lets you reap the benefits of a high dividend yield even if the stock itself isn’t seeing much growth.

Dynex Capital, Inc. (NYSE: DX)

Dynex Capital is a mortgage REIT investing in mortgage bonds and securities.

The company does so with both commercial and residential properties.

To appeal to shareholders, it uses these investments to generate high dividends.

Dynex currently has a dividend yield of 8.78%.

Although the share price halved at the beginning of the pandemic, Dynex made up the difference this summer, only now trading sideways this fall.

This is likely due to lower than expected revenue in the second and third quarters of 2021.

The lower numbers come off a very high revenue stream in Q1.

Investors are still optimistic about Dynex Capital, as businesses will likely continue returning to physical locations.

Best Growth Monthly Dividend Stocks

  • EPR Properties (NYSE: EPR)
  • Pembina Pipeline Corporation (NYSE: PBA)

Best Monthly Dividend Stocks featured

EPR Properties (NYSE: EPR)

EPR Properties is yet another REIT with more of a unique vision.

The company is all about spectacles, owning real estate ventures for things like ski resorts, gaming facilities, movie theaters, bowling alleys, and more.

Because of this, EPR was hit hard during the pandemic, plummeting from nearly $80 per share to $20 overnight.

EPR was forced to suspend its dividend for over a year during this time as it worked to regain lost shares.

With most locations operating once again at full capacity, share prices have climbed 60% over the last year.

As of July 2021, the company has reintroduced a 5.69% dividend to shareholders, a great sign that the EPR is going strong.

At present, EPR has been able to increase that dividend yield to the 5.95% it currently pays out each month.

Pembina Pipeline Corporation (NYSE: PBA)

Pembina Pipeline Corporation stands out as its dealings are in the energy sector.

Specifically, the company has transportation and storage capabilities for oil and natural gas throughout Western Canada.

It forms long-term contracts with businesses in the energy sector to use its equipment, providing a steady source of revenue.

After a hard fall thanks to the Covid-19 pandemic, Pembina Pipeline has been making strides to reclaim lost share price.

Its share price has seen a steady rise over the last 18 months and is nearly 40% higher than last year at this time.

These gains allow Pembina Pipeline to pay out a healthy 6.07% dividend at current.

With many long-term investments still in place, things are looking up for Pembina Pipeline.

Should You Buy Monthly Dividend Stocks?

Yes! However, most publicly traded companies do not provide a monthly dividend.

Quarterly dividends are much more commonplace.

Many companies were forced to forego a dividend yield when the pandemic first hit as they experienced heavy losses.

A venture with a monthly yield in today’s market shows that it recovered well from the downturn and has some cash to spare.

When done carefully, a monthly dividend stock strategy can help you net a consistent monthly income.

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Where to Buy Monthly Dividend Stocks

It’s unlikely you’ll find dividend stocks on the less stable OTC markets.

For a business to be able to pay out a dividend yield, it must have a stable business model to lean on.

Robinhood is a trading platform that lists the thousands of stocks on the NYSE and NASDAQ exchanges, where high yield stocks like to hang out.

Its quick-to-access system makes it simple for users new or old to navigate to stocks of a particular interest.

Should you wish for a deeper dive, consider Webull instead.

Webull has more complex tools that suit traders looking for hidden gems and breakout stocks that aren’t on anyone’s radar.

Best Monthly Dividend Stocks: Final Thoughts

Monthly dividend stocks are a unique investment opportunity.

They are a great choice for investors who are risk-averse and want the stability of consistent monthly income, in addition to share value gains.

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Sarah Foley is a freelance content writer based in Chicago. She covers finance as well as real estate, technology, pop culture, and more.