15 Best Monthly Dividend Stocks To Buy Right Now

10. Orchid Island Capital, Inc. (NYSE:ORC)

Number of Hedge Fund Holders: 11

Orchid Island Capital, Inc. (NYSE:ORC) is an American specialty finance company, based in Florida. With a dividend yield of 18.11%, as of January 29, ORC is one of the best dividend stocks that pay monthly dividends. On January 8, it declared a monthly dividend of $0.12 per share, which was in line with its previous dividend. The company has been a reliable monthly dividend payer since its IPO in 2013. It initially paid out over $4.6 million in cumulative dividends in 2013, and this amount grew to more than $81 million by the end of 2023. Over this period, Orchid Island Capital returned approximately $658 million to its shareholders in dividends.

Orchid Island Capital, Inc. (NYSE:ORC) maintains a positive outlook on future investments, expecting that promising opportunities will continue to emerge. It believes total returns could strengthen if the Federal Reserve begins to loosen monetary policy, especially if banks increase their participation in the Agency RMBS market. However, even in the absence of these factors, the current investment environment remains favorable, with hedged net interest spreads providing solid support for existing dividend levels.

Insider Monkey’s database of Q3 2024 showed that 11 hedge funds held stakes in Orchid Island Capital, Inc. (NYSE:ORC), up from 10 in the previous quarter. These stakes have a total value of over $11.7 million. Jim Simons’ Renaissance Technologies was the company’s leading stakeholder in Q3.