In this article, we discuss 5 high-yield monthly dividend stocks for August. If you want to read our detailed discussion on dividend stocks, go directly to read 10 High-Yield Monthly Dividend Stocks for August.
5. Broadmark Realty Capital Inc. (NYSE:BRMK)
Dividend Yield as of August 2: 11.29%
Broadmark Realty Capital Inc. (NYSE:BRMK) is a Washington-based specialty real estate finance company that provides financial solutions to its consumers.
In Q1 2022, Broadmark Realty Capital Inc. (NYSE:BRMK) generated over $14.3 million in free cash flow, up from $13.6 million in the previous quarter. The company’s dividend payments amounted to nearly $9.3 million, which shows that the company’s dividends are well covered within its free cash flow. Broadmark Realty Capital Inc. (NYSE:BRMK) currently pays a monthly dividend of $0.07 per share, with a yield of 11.29%, as of August 2.
This June, Piper Sandler initiated its coverage of Broadmark Realty Capital Inc. (NYSE:BRMK) with a Neutral rating, highlighting the current market environment.
At the end of Q1 2022, 7 hedge funds in Insider Monkey’s database owned stakes in Broadmark Realty Capital Inc. (NYSE:BRMK), down from 11 a quarter earlier. The stakes owned by these hedge funds are valued at over $50 million. With over 4.8 million BRMK shares, Farallon Capital was the company’s leading stakeholder in Q1.
4. SLR Investment Corp. (NASDAQ:SLRC)
Dividend Yield as of August 2: 11.44%
An American business development company, SLR Investment Corp. (NASDAQ:SLRC) reported approximately $9.1 million in cash at the end of Q1 2022. The company generated $304.2 million in free cash flow during the quarter and has access to $765 million of available capital. SLR Investment Corp. (NASDAQ:SLRC) currently pays a monthly dividend of $0.1367 per share, with a dividend yield of 11.44%, as of August 2.
Highlighting the recent pullback in business development stocks, Keefe Bruyette set a $16.50 price target on SLR Investment Corp. (NASDAQ:SLRC) SLR Investment Corp. (NASDAQ:SLRC) in July, with a Market Perform rating on the shares.
The number of hedge funds tracked by Insider Monkey owning stakes in SLR Investment Corp. (NASDAQ:SLRC) stood at 6 in Q1 2022, the same as in the previous quarter. The total value of these stakes jumped to nearly $18 million in Q1, from $17.2 million in Q4 2021.
3. AGNC Investment Corp. (NASDAQ:AGNC)
Dividend Yield as of August 2: 11.59%
AGNC Investment Corp. (NASDAQ:AGNC) is a Maryland-based real estate investment trust that invests in agency mortgage-backed securities.
AGNC Investment Corp. (NASDAQ:AGNC) ended Q2 2022 with cash and cash equivalents of over $906 million with total assets worth $61.2 million. The company’s free cash flow stood at over $1.5 billion at the end of FY21, down from $1.7 billion in 2020. AGNC Investment Corp. (NASDAQ:AGNC) has been a dividend-payer since 2008, with its payouts holding a cumulative value of over $11.8 billion. Its monthly dividend stands at $0.12 per share, with a yield of 11.59%, as of August 2.
In June, Keefe Bruyette raised its price target on AGNC Investment Corp. (NASDAQ:AGNC) to $13.25 and upgraded the stock to Outperform.
As per Insider Monkey’s Q1 2022 database, 14 hedge funds held investments in AGNC Investment Corp. (NASDAQ:AGNC), with a total value of over $70.4 million. Canyon Capital Advisors held the largest stake in the company in Q1, worth over $40 million.
2. ARMOUR Residential REIT, Inc. (NYSE:ARR)
Dividend Yield as of August 2: 15.56%
A Florida-based real estate investment trust company, ARMOUR Residential REIT, Inc. (NYSE:ARR) reported strong financial health in Q1 2022. The company had nearly $317 million available in cash and had total assets worth over $8.7 billion. In addition to this, its cash and unencumbered securities exceeded $646.2 million during the quarter.
Though ARMOUR Residential REIT, Inc. (NYSE:ARR) has cut its dividend several times, the company maintained an 11-year track record of consistent dividend payments. It currently pays a monthly dividend of $0.10 per share and its dividend yield came in at 15.56%, as of August 2.
According to Insider Monkey’s data, 4 hedge funds owned roughly $6 million worth of stakes in ARMOUR Residential REIT, Inc. (NYSE:ARR) in Q1 2022. In the previous quarter, 6 hedge funds owned stakes in the company, valued at over $11.3 million.
1. Orchid Island Capital, Inc. (NYSE:ORC)
Dividend Yield as of August 2: 16.9%
Orchid Island Capital, Inc. (NYSE:ORC) is a Florida-based specialty finance company that invests in residential mortgage-backed securities on a leveraged basis.
At the end of Q1 2022, Orchid Island Capital, Inc. (NYSE:ORC) had cash of over $427.4 million, with total assets standing at $5 billion. The company generated $114 million in free cash flow, up from $35.2 million in the previous quarter. It paid roughly $8 million in dividends during the quarter. Orchid Island Capital, Inc. (NYSE:ORC) has been paying dividends steadily to shareholders since its IPO in 2013. It currently offers a monthly dividend of $0.045 per share, with a dividend yield of 16.9%, as recorded on August 2.
At the end of March 2022, 4 hedge funds tracked by Insider Monkey held investments in Orchid Island Capital, Inc. (NYSE:ORC), down from 5 a quarter earlier. The stakes owned by these hedge funds are collectively valued at over $1.2 million.
You can also take a look at 12 Best Bear Market Stocks to Buy Now and Top Stock Picks of Michael Burry.
