5 Highest Paying Monthly Dividend Stocks

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

Dividend Yield as of October 5: 24.4%

Orchid Island Capital, Inc. (NYSE:ORC) is an American real estate investment trust company that mainly generates income for its shareholders through investments in real estate-related assets. On September 11, the company announced a monthly dividend of $0.16 per share, which fell in line with its previous dividend. With a dividend yield of 24.4%, ORC is one of the best dividend stocks on our list.

As of the close of Q2 2023, 7 hedge funds tracked by Insider Monkey reported having stakes in Orchid Island Capital, Inc. (NYSE:ORC), up from 6 in the previous quarter. The consolidated value of these stakes is over $3.07 million.

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