10 Highest-Paying Monthly Dividend Stocks

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7. Ellington Financial Inc. (NYSE:EFC)

Dividend Yield as of November 23: 12.90%

Ellington Financial Inc. (NYSE:EFC) is an American real estate credit company that invests in a diverse array of financial assets. Maxim reiterated its Buy rating on the stock in October with a $15.50 price target, highlighting the company’s improving book value in the recent quarter.

Ellington Financial Inc. (NYSE:EFC) hiked its dividends twice last year and currently pays a monthly dividend of $0.15 per share. The company’s balance sheet and continuous dividend payments make it one of the best highest-paying monthly dividend stocks on our list. The stock’s dividend yield on November 23 came in at 12.90%.

In Q3 2022, Ellington Financial Inc. (NYSE:EFC) reported a net interest income of $36.5 million, and its adjustable distributable earnings came in at $26.5 million. It ended the quarter with $175.2 million in cash and cash equivalents, with roughly $400 million in other assets.

Ellington Financial Inc. (NYSE:EFC) was a part of 5 hedge fund portfolios in Q3 2022, compared with 4 in the previous quarter. The stakes owned by these hedge funds have a total value of $11.7 million.

Follow Ellington Financial Inc. (NYSE:EFC)

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