5 Monthly Dividend Stocks with Over 4% Yield

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

Dividend Yield as of October 7: 22.64%

Orchid Island Capital, Inc. (NYSE:ORC) is a Florida-based specialty finance company that mainly invests in residential mortgage-backed securities on a leveraged basis. The company is one of the best highest-paying dividend stocks on our list because it has been making uninterrupted dividend payments since its IPO in 2013. On September 12, the company declared a monthly dividend of $0.16 per share, up from its previous dividend of $0.045 per share. As of October 7, the stock’s dividend yield came in at 22.64%.

In the second quarter of 2022, Orchid Island Capital, Inc. (NYSE:ORC) reported revenue of $66.2 million, up 26% from the same period last year. The company’s net interest income was recorded at $27.1 million and its total expenses stood at $4.9 million. Its cash position also remained stable in Q2 as it reported $283.3 million in cash and cash equivalents and its total assets stood at over $4.4 billion.

As of the close of Q2 2022, 5 hedge funds in Insider Monkey’s database owned stakes in Orchid Island Capital, Inc. (NYSE:ORC), compared with 4 in the previous quarter. The collective value of these stakes is $536,000. Balyasny Asset Management owned the largest stake in the company, worth $277,000.

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