5 Highest Paying Monthly Dividend Stocks

2. ARMOUR Residential REIT, Inc. (NYSE:ARR)

Dividend Yield as of October 5: 25.7%

An American real estate investment trust company, ARMOUR Residential REIT, Inc. (NYSE:ARR) is next on our list of the best dividend stocks. The company offers a monthly dividend of $0.08 per share and has a dividend yield of 25.7%, as of October 5. It has been rewarding shareholders with regular dividends since 2010.

As of the close of Q2 2023, 5 hedge funds owned stakes in ARMOUR Residential REIT, Inc. (NYSE:ARR), up from 4 in the previous quarter, as per Insider Monkey’s database. The total value of these stakes is over $5.6 million.

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