10 Stocks That Pay Dividends Monthly

Published October 30, 2022 at 11:22 am EDT Updated September 7, 2026 at 11:44 am EDT

In this article we present the list of 10 Stocks That Pay Dividends Monthly.

Shaw Communications Inc. (NYSE:SJR), Pembina Pipeline Corporation (NYSE:PBA), and STAG Industrial, Inc. (NYSE:STAG) are a few of best stocks that pay monthly dividends, providing a steady stream of income to their shareholders.

Monthly dividend stocks are among the most coveted by dividend investors given the continuous stream of income they provide, which can balance out the less frequent payouts of companies that pay dividends either quarterly (which is the most common timeframe), semi-annually, or annually.

If a dividend investor is reinvesting their dividend payments, monthly payments also provide a distinct advantage over those with longer timeframes, allowing the money to be reinvested and to begin compounding more quickly.

So while two different stocks could have the exact same dividend yield, one that pays out monthly would compound quicker than one that pays out quarterly (assuming the same reinvestment growth rates), making it more valuable. That’s an important consideration to factor in when examining dividend yields and other aspects of the best income stocks.

Another benefit to investing in companies that pay out monthly dividends is that those stocks tend to be safe dividend bets, with steady income streams that support their monthly payments. Financial companies and real estate investment trusts are frequently the most common sources of monthly dividend payments given their predictable and recurring cash flows.

In addition to the stocks featured on this list, investors interested in generating steady monthly income streams through their investments could consider several monthly dividend ETFs. These ETFs provide the added benefit of being able to invest in some of the highest-yielding stocks on the market that don’t necessarily pay out monthly themselves, while still being able to collect monthly payments from the ETF.

Now then, let’s check out some of the top monthly dividend stocks, analyzing their dividend history, payout ratios, and more to determine which are the safest stock picks for dividend investors.

Our Methodology

The following monthly dividend stocks are ranked based on hedge fund sentiment. We follow a select group of hedge funds because Insider Monkey’s research has uncovered that their consensus stock picks can deliver outstanding returns.

All hedge fund data is based on the exclusive group of 900+ funds tracked by Insider Monkey that filed 13Fs for the Q2 2022 reporting period.

10 Stocks That Pay Dividends Monthly

10. Ellington Financial Inc. (NYSE:EFC)

Number of Hedge Fund Shareholders: 4

Monthly Dividend Payout: $0.15

Pembina Pipeline Corporation, Shaw Communications Inc., and STAG Industrial, Inc. are three of the top monthly dividend stocks that investors should consider. Another is mortgage REIT Ellington Financial Inc. (NYSE:EFC), which switched to monthly from quarterly dividend payments in 2019.

Ellington Financial Inc. has a ten-year track record of making dividend payments, though just a one-year streak of dividend growth. The company’s next $0.15 payout will be on November 25 to shareholders of record as of October 31. The company’s payout ratio is just over 105%, which could prompt a pullback in the dividend in the coming months, as the company has been forced to do in the past. Nonetheless, with a 13.5% yield, the stock should have attractive payouts even in the event of a modest cut to the dividend. Ellington Financial has a book value of $15.22 as of Q3, nearly two dollars higher than what the company’s shares currently trade for.

Ellington Financial Inc. has fallen to a 3-year low in hedge fund ownership following a 60% drop in the number of smart money shareholders of the stock since Q3 2021. Unsurprisingly, Mike Vranos’ Ellington is the company’s largest shareholder, owning 927,141 shares on June 30. David Harding’s Winton Capital Management owns 113,271 shares.

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

Number of Hedge Fund Shareholders: 5

Monthly Dividend Payout: $0.10

ARMOUR Residential REIT, Inc. (NYSE:ARR) currently sports a robust 22.47% dividend yield, though like Ellington Financial its payout ratio is slightly above 100% at 103.45%, though the company’s estimated distributable earnings for Q3 exceeded its dividend payouts. The company was forced to skip two of its monthly dividend payments in the second quarter of 2020 and subsequently lowered its payout to $0.09 from $0.17. It bumped the payout up to $0.10 in July 2020, which it has maintained since.

ARMOUR Residential REIT, Inc.’s book value per share fell from $7.25 on June 30 to between $5.79 and $5.83 as of September 30. ARR shares currently trade for $5.34. B. Riley analyst Matt Howlett lowered his price target on ARR to $6 from $8.50 in late October and has a ‘Neutral’ rating on the shares. He believes that mortgage REITs had a rocky Q3 given the lack of stability in the fixed income markets.

Just five of the hedge funds tracked by Insider Monkey’s database were long ARMOUR Residential REIT, Inc. on June 30, down from 13 funds a year earlier. Ken Griffin’s Citadel Investment owns 1.57 million ARR shares, by far the largest stake among those five funds.

8. Broadmark Realty Capital Inc. (NYSE:BRMK)

Number of Hedge Fund Shareholders: 8

Monthly Dividend Payout: $0.07

Broadmark Realty Capital Inc. (NYSE:BRMK) began making $0.12 monthly dividend payments at the end of 2019 but slashed its payments to $0.08 and later $0.06 over the following four months. It has since raised its payments to $0.07, which it’s maintained for nearly two years. The stock’s dividend yield stands at 14.21%, while the company’s payout ratio is a worrisome 129%.

Broadmark Realty Capital Inc. pulled in Q2 revenue of $28.5 million and earnings per share of $0.16, both of which slightly missed estimates. The company noted that while it would like to speed up the pace of originations, it’s focused on staying disciplined and maintaining its fortress balance sheet during a volatile period for the market. Piper Sandler analyst Crispin Love has a $5.50 price target and ‘Underweight’ rating on BRMK shares.

Hedge fund ownership of Broadmark Realty Capital Inc. has trended down since the company first went public through a merger with special acquisition company Trinity Merger Corp. in November 2019. Less than half the number of funds were long BRMK on June 30 as there were at the end of 2019. Farallon Capital, founded by Thomas Steyer, has been a prominent shareholder of the stock since the beginning and owned 4.85 million shares on June 30.

7. Dynex Capital, Inc. (NYSE:DX)

Number of Hedge Fund Shareholders: 13

Monthly Dividend Payout: $0.13

Dynex Capital, Inc. (NYSE:DX) switched to monthly dividend payments in 2019. The financial services company cut its payments to $0.13 from $0.15 in the middle of 2020, which it has maintained since. The company’s payout ratio stands at 102%, while its shares yield 12.95%. Its next dividend payment is scheduled for November 1 to shareholders of record as of October 21.

Dynex Capital, Inc. earned $0.24 per share in Q3, well below the company’s dividend payouts, though it noted that the figure included a $0.06 severance charge related to its transition to a new CFO. That figure also didn’t include the benefit of interest rate hedge gains, which totaled nearly $150 million. The company’s book value declined during the quarter due to the broader volatility, though its liquidity remained strong.

The smart money was showing keen interest in Dynex Capital, Inc. during Q2, as the number of funds long DX more than doubled during the quarter. Israel Englander’s Millennium Management, David Harding’s Winton Capital, and John Overdeck and David Siegel’s Two Sigma Advisors were some of the funds to add the stock to their portfolios during Q2.

6. Banco Bradesco S.A. (NYSE:BBD)

Number of Hedge Fund Shareholders: 14

Monthly Dividend Payout: $0.0036

Closing out the first half of the list is Banco Bradesco S.A. (NYSE:BBD), which in addition to monthly dividend payments, also routinely issues special dividends during the year. The company’s next dividend payment on November 8 is scheduled to be $0.37, to be followed by $0.36 payments in December and January. The company’s dividends tend to fluctuate slightly from month to month.

Banco Bradesco S.A. shares have a dividend yield of 2.28% and the company’s payout ratio is a paltry 20.7%. The commercial bank, which operates primarily in Brazil, could be facing a challenging quarter in terms of asset quality according to data released by the Central Bank of Brazil. In broader terms, Brazil’s GDP growth remains solid while inflation has slowed, which are promising signs for Banco Bradesco’s primary market.

The number of funds long Banco Bradesco S.A. has ticked down by 30% over the past two years, but a number of firms remain bullish on the company. Ken Fisher’s Fisher Asset Management owns 24.9 million shares as of June 30, while Fabiana Gelband Leite’s Atmos Capital owns 4.25 million shares and has 2.1% 13F exposure to the stock.

Shaw Communications Inc., STAG Industrial, Inc., and Pembina Pipeline Corporation are some of the monthly dividend stocks featured in the second half of this article. Check it out by clicking the link below.

5. Pembina Pipeline Corporation (NYSE:PBA)

Number of Hedge Fund Shareholders: 14

Monthly Dividend Payout: $0.1588

Pembina Pipeline Corporation is one of the steadier monthly dividend payers, boasting a six-year history of dividend growth, though that streak appears to be in jeopardy this year. Nonetheless, the company has continued to make solid monthly payments of between $0.1587 and $0.1676 monthly, with the stock’s overall yield coming out to about 6%. Pembina’s payout ratio stands at 95%. The company grew revenue by over 50% year-over-year in Q2 to CAD3.10 billion, while EPS jumped by CAD0.30 to CAD0.69.

Pembina Pipeline Corporation has proven popular among hedge funds in recent quarters as oil prices have risen, with ownership of the stock nearly doubling over the last three quarters. Jim Simons’ Renaissance Technologies and Steve Cohen’s Point72 Asset Management are two of the company’s most influential shareholders.

Pembina Pipeline Corporation was one of the big Q1 winners for the ClearBridge Investments Global Infrastructure Income Strategy, which had to say about the company in its Q1 2022 investor letter:

“On a regional basis, the U.S. and Canada were the top contributors to quarterly performance. Pembina Pipeline, which provides transportation and midstream services for the energy industry in North America, was also up on greater LNG demand. The hiring of Scott Burrows as permanent CEO and Jaret Sprott as COO and reaffirmation of its corporate strategy also boosted investor sentiment. On an individual stock basis, the largest contributors to absolute returns in the quarter includes Pembina Pipeline.”

4. AGNC Investment Corp. (NASDAQ:AGNC)

Number of Hedge Fund Shareholders: 18

Monthly Dividend Payout: $0.12

AGNC Investment Corp. (NASDAQ:AGNC) switched to monthly dividend payments in late 2014, with those payments starting at $0.22. They’ve since been cut multiple times, landing at $0.12 in May 2020, where they’ve stayed since. Despite the dividend being cut nearly in half over the last eight years, AGNC shares still yield a hearty 17.6%, while the company’s payout ratio is just 46%.

AGNC Investment Corp.’s tangible book value per share fell from $11.43 on June 30 to $9.08 on September 30, due to wider spreads, which still comes in above the stock’s current price of $8.18. The mortgage REIT lost $1.31 per share in Q3 but topped estimates in terms of net spread and dollar roll income per common share, which came in at $0.84, beating estimates by $0.24.

Hedge funds were buying up AGNC Investment Corp. in droves during late 2019 and early 2020, but there’s a net decline of 50% in smart money ownership of the stock since then. Carl Goldsmith and Scott Klein’s Beach Point Capital Management built an aggressive stake in AGNC during Q3 consisting of 1.5 million shares and giving the fund’s 13F portfolio 4.28% exposure to the stock.

3. Agree Realty Corporation (NYSE:ADC)

Number of Hedge Fund Shareholders: 19

Monthly Dividend Payout: $0.24

Agree Realty Corporation (NYSE:ADC) has a 27-year run of making dividend payments, as well as a nine-year run of dividend growth. The REIT switched to monthly dividend payments at the beginning of 2021, which began at $0.207. They’ve since been raised four times, with the next payment scheduled for November 14 coming in at $0.24. The company’s payout ratio is high however, currently clocking in at 144%. ADC shares yield 4.21%.

Agree Realty Corporation continues to build its war chest, which could allow it to be aggressive on the growth front while many of its rivals hunker down to manage their leverage during the challenging market conditions. Agree Realty made a secondary offering of 5 million shares at the end of September at $66.85 per share. The company also agreed to settle all outstanding forward equity as of September 30, with the proceeds expected to total $599 million.

Save for a brief blip in Q4, hedge fund ownership of Agree Realty Corporation has remained extremely steady over the past year and a half. Jeffrey Furber’s AEW Capital Management built a large new stake in the company during Q2 that contained 587,020 shares, while James Morrow’s Calladine Capital Management owned 170,000 shares on June 30 and had 3.63% exposure to ADC in its 13F portfolio.

2. STAG Industrial, Inc. (NYSE:STAG)

Number of Hedge Fund Shareholders: 27

Monthly Dividend Payout: $0.1217

STAG Industrial, Inc. has a 10-year run going of both dividend payments and dividend growth. The REIT, which invests primarily in single-tenant industrial properties, switched to monthly dividend payments in the fourth quarter of 2013. Its monthly payouts have since been raised from $0.10 to $0.1217 per share. The company’s payout ratio stands at 109%, while its shares yield 4.61%. STAG’s Q3 FFO came in at $0.57, while its revenue was $166.3 million, both of which beat estimates.

Hedge fund ownership of STAG Industrial, Inc. jumped by 33% during Q2 to hit an all-time high and has nearly doubled over the last year. Stuart J. Zimmer’s Zimmer Partners owned the largest position in the company on June 30 at 4.88 million shares, while Anand Parekh’s Alyeska Investment Group build a new STAG holding of 441,763 shares during Q2.

The Carillon Scout Mid Cap Fund discussed some of the recent pressures weighing on STAG Industrial, Inc. shares in its Q1 2022 investor letter:

“Labor inflation and general labor availability were again concerns for many companies. Supply chains eased for some goods, but remained challenged for many commodities including energy, agriculture, and fertilizer due to war and general scarcity, and also in many consumer products as semiconductors remained in short supply. Stag Industrial, a warehouse REIT focused on rural distribution properties, fell as interest rates rose and fear of an economic slowdown gripped markets.”

1. Shaw Communications Inc. (NYSE:SJR)

Number of Hedge Fund Shareholders: 29

Monthly Dividend Payout: $0.0767

Topping the list of dividend stocks that pay monthly is Canadian telecommunications company Shaw Communications Inc., which is in the midst of a contentious and difficult merger with fellow Canadian telecommunications giant Rogers Communications Inc. (NYSE:RCI). The company has a 35-year run of dividend payments, which fluctuate monthly. The next two payments are scheduled to be for $0.0767 following a $0.0718 payment on October 28. Shaw has a manageable payout ratio of 70% and SJR shares yield 3.68%.

The proposed $26 billion merger between Shaw Communications Inc. and Rogers received a vote of confidence from Canada’s Minister of Innovation, Science and Industry, Francois-Philippe Champagne, who expressed willingness to approve the deal should certain conditions be agreed upon. Shaw has already agreed to sell Freedom Mobile to Quebecor, with the added stipulation being that the latter company must hold those wireless licenses for at least ten years.

Shaw Communications Inc. also hit an all-time high in terms of its ownership among the select group of hedge funds tracked by Insider Monkey during Q2, rising by 26% during the quarter. Israel Englander’s Millennium Management owned the largest stake in the company on June 30, while Simon Davies’ Sand Grove Capital Partners more than doubled the size of its SJR holding during the period.

For more of the latest stock picks worth considering for your portfolio, check out 16 Best Penny Stocks To Buy Now and 10 Best Used Car Stocks To Buy Now.