10 Highest Paying Monthly Dividend Stocks

3. ARMOUR Residential REIT, Inc. (NYSE:ARR)

Dividend Yield as of August 16: 14.47%

ARMOUR Residential REIT, Inc. (NYSE:ARR) is a Florida-based real estate investment trust company that invests in mortgage-backed securities (MBS). The company’s investments are committed to supporting homeownership across a wide and diverse range of Americans. It aims to create shareholder value by carefully investing in and managing a leveraged and diversified portfolio of MBS. In addition, it prioritizes maintaining dividends on common shares that are appropriate for the intermediate term, rather than focusing on short-term market fluctuations.

ARMOUR Residential REIT, Inc. (NYSE:ARR)’s portfolio remained robust in the second quarter of 2024, with its Agency MBS portfolio amounting to $8.9 billion and TBA Agency Securities totaling $1.2 billion. Net repurchase agreements reached $7.1 billion. The debt-to-equity ratio stood at 6.09:1, calculated by dividing repurchase agreements by total stockholders’ equity. When including TBA Securities forward-settling sales and unsettled purchases, the implied leverage was 7.44:1. The company also held interest rate swap contracts totaling $8.3 billion in notional value.

On July 23, ARMOUR Residential REIT, Inc. (NYSE:ARR) declared a monthly dividend of $0.24 per share, which was in line with its previous dividend. Overall, the company holds a 14-year streak of consistent dividend payments, which makes ARR one of the best dividend stocks on our list. The stock has a dividend yield of 14.47%, as of August 16.