In this article, we discuss the 5 cheap monthly dividend stocks with high yields. If you want our detailed analysis of these stocks, go directly to 10 Cheap Monthly Dividend Stocks with High Yields.
5. Horizon Technology Finance Corporation (NASDAQ:HRZN)
Horizon Technology Finance Corporation (NASDAQ:HRZN), based in Connecticut, specializes in lending. Trading at $13.14 as of November 5, the stock has a dividend yield of about 9%. Despite rising interest rates and inflation, the company recently announced a hike of 10% in its monthly dividend. The company declared a dividend of $0.11 per share, as compared to its previous dividend of $0.10. The dividend is payable on January 13, February 15 and March 15.
This is in addition to the special dividend of $0.05 per share which is to be paid on Dec. 15. This makes Horizon Technology Finance Corporation (NASDAQ:HRZN) one of the best monthly dividend stocks.
As of the end of the second quarter of this year, 5 hedge funds tracked by Insider Monkey had stakes in the company, compared to 7 funds in the previous quarter.
4. Oxford Square Capital Corp. (NASDAQ:OXSQ)
Oxford Square Capital Corp. (NASDAQ:OXSQ) is a financial services and investment company that invests in secured and unsecured senior debt, subordinated debt, junior subordinated debt, preferred stock, common stock and syndicated bank loans. Before announcing its Q3 results on November 7, the company released its earnings preview, according to which the consensus EPS estimate was $0.11 and the consensus revenue estimates was $11.3 million. This revenue jumped a 15.3% jump on a year-over-year basis.
As of the end of the second quarter, 2 hedge funds tracked by Insider Monkey had stakes in Oxford Square Capital Corp. (NASDAQ:OXSQ), compared to 5 funds in the previous quarter.
3. PennantPark Floating Rate Capital Ltd. (NYSE:PFLT)
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) invests in middle-market companies located primarily in the U.S., with proven management teams, competitive market positions, strong cash flow, growth potential, and viable exit strategies.
On November 3, PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) declared a monthly dividend of $0.095 per share, in line with the previous dividend. The stock’s forward dividend yield came in at 10.28%. The dividend is payable on December 1 to shareholders of record as of November 17. 3 hedge funds tracked by Insider Monkey reported having stakes in the company as of the end of the second quarter, compared to 7 funds in the previous quarter.
2. SLR Investment Corp. (NASDAQ:SLRC)
SLR Investment Corp. (NASDAQ:SLRC) is a New York-based financial services company that specializes in secured debt, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and many other related services. Earlier in November, the company announced its third-quarter results. Its third quarter GAAP EPS came in at $0.25, missing the Street estimates by $0.14. Revenue in the period jumped about 48% to reach $47.56 million, beating the Wall Street by $0.72 million.
As of the end of the second quarter of this year, 7 hedge funds out of the 895 tracked by Insider Monkey reported having stakes in SLR Investment Corp. The total value of these stakes was $11.4 million. In the previous quarter, 6 funds reported having stakes in the company. John Overdeck and David Siegel’s Two Sigma Advisors was the biggest stakeholder in the company with a $4.9 million stake.
1. PermRock Royalty Trust (NYSE:PRT)
PermRock Royalty Trust (NYSE:PRT) is a Texas-based company that owns about 80% net profits interest in the oil and natural gas producing properties acquired by Boaz Energy II, LLC in Permian Basin, Texas. PermRock Royalty Trust (NYSE:PRT) is one of the cheapest monthly dividend stocks, trading at around $7.6 as of November 5. Last month, the company declared a monthly dividend of $0.0933 per share, in line with the previous. The dividend yield came in at 14.85%. The dividend is payable on November 15 to the shareholders of record on October 31.
You can also take a look at 12 Best Hemp Stocks To Buy and 11 Best Cruise Stocks To Buy.
