5 Best Monthly Dividend Stocks to Buy in October

1. Prospect Capital Corporation (NASDAQ:PSEC)

Dividend Yield as of October 5: 10.51%

Prospect Capital Corporation (NASDAQ:PSEC) is a yield-oriented business development company that makes debt and equity investments in the US middle market. The company is one of the best monthly dividend stocks as it has been offering dividends to shareholders since its inception in 2004, paying a total of $3.7 billion in dividends. It currently offers a monthly dividend of $0.06 per share, with a dividend yield of 10.51%, as of October 5.

Prospect Capital Corporation (NASDAQ:PSEC) announced its fiscal Q4 results on August 29, posting a net interest income of $0.21, which beat analysts’ estimates by $0.03. The company’s total investment income came in at $184.2 million, which showed a 17.3% year-over-year growth and also surpassed consensus by $8.02 million. At the end of June 2022, it had $35.3 million available in cash and cash equivalents.

As of the close of Q2 2022, 7 hedge funds in Insider Monkey’s database owned stakes in Prospect Capital Corporation (NASDAQ:PSEC), up from 6 in the previous quarter. The collective value of these stakes is over $15.3 million, compared with $18.4 million worth of stakes owned by hedge funds in the preceding quarter.

You can also take a look at 10 Monthly Dividend Stocks with Highest Yields and 10 Blue Chip Dividend Stocks to Buy After the Market Selloff

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