10 Highest Paying Monthly Dividend Stocks

5. Oxford Square Capital Corp. (NASDAQ:OXSQ)

Dividend Yield as of August 16: 13.82%

Oxford Square Capital Corp. (NASDAQ:OXSQ) is a non-diversified investment management company that mainly invests in corporate debt securities and collateralized loan obligations (CLOs). In the second quarter of 2024, the company reported a net investment income (NII) of $7.7 million, up from $6.5 million in the previous quarter. Total investment income also grew modestly QoQ to $11.4 million, from $10.7 million. The company’s performance highlights a mixed financial landscape, showing increases in total investment income and strategic investment activities while experiencing slight declines in U.S. loan market prices.

Since the start of 2024, Oxford Square Capital Corp. (NASDAQ:OXSQ) has surged by nearly 4%, and analysts have a favorable outlook on the stock. Its recent quarterly earnings also contributed to this positive outlook. Its investment activity involved acquiring about $28.8 million in assets. Sales totaled roughly $3.4 million, while repayments reached approximately $15.8 million. The primary market issuance for the US. leveraged loans experienced a substantial rise compared to the previous year.

Oxford Square Capital Corp. (NASDAQ:OXSQ) is a strong dividend payer, paying regular dividends to shareholders since 2006. The company ended the quarter with over $30 million available in cash and cash equivalents, up significantly from $5.7 million six months ago. On August 13, it declared a monthly payout of $0.035 per share, which was consistent with its previous dividend. With a dividend yield of 13.82% as of August 16, OXSQ is one of the best dividend stocks on our list.