2026 Monthly Dividend Stocks List | See All 120 Now

Updated on June 1st, 2026 by Bob CiuraSpreadsheet data updated daily

Monthly dividend stocks are securities that pay a dividend every month instead of quarterly or annually.

This research report focuses on all 120 individual monthly paying securities. It includes the following resources.

Resource #1: The Monthly Dividend Stock Spreadsheet List

This list contains important metrics, including: dividend yields, payout ratios, dividend growth rates, 52-week highs and lows, and more.

Note: We strive to maintain an accurate list of all monthly dividend payers. There’s no universal source we are aware of for monthly dividend stocks; we curate this list manually. If you know of any stocks that pay monthly dividends that are not on our list, please email [email protected].

Resource #2: The Monthly Dividend Stocks In Focus SeriesThe Monthly Dividend Stocks In Focus series is where we analyze all monthly paying dividend stocks. This resource links to stand-alone analysis on each of these securities.

Resource #3: The 10 Best Monthly Dividend StocksThis research report analyzes the 10 best monthly dividend stocks as ranked by expected total return.

Resource #4: Other Monthly Dividend Stock Research– Why monthly dividends matter– The dangers of investing in monthly dividend stocks– Final thoughts and other income investing resources

The Monthly Dividend Stocks In Focus Series

You can see detailed analysis on the individual monthly dividend securities we cover by clicking the links below:

Agree Realty (ADC)
AGNC Investment (AGNC)
Atrium Mortgage Investment Corporation (AMIVF)
Apple Hospitality REIT, Inc. (APLE)
Automotive Properties Real Estate Investment Trust (APPTF)
Allied Properties Real Estate Investment Trust (APYRF)
ARMOUR Residential REIT (ARR)
Banco BBVA Argentina S.A. (BBAR)
Banco Bradesco S.A. (BBD)
BCP Investment Corp. (BCIC)
Diversified Royalty Corp. (BEVFF)
Bird Construction (BIRDF)
Banco Macro S.A. (BMA)
Boardwalk Real Estate Investment Trust (BOWFF)
Boston Pizza Royalties Income Fund (BPZZF)
Bridgemarq Real Estate Services (BREUF)
BSR Real Estate Investment Trust (BSRTF)
BTB Real Estate Investment Trust (BTBIF)
Canadian Apartment Properties REIT (CDPYF)
Cardinal Energy Ltd. (CRLFF)
ChemTrade Logistics Income Fund (CGIFF)
CION Investment Corporation (CION)
Canadian Net REIT (CNNRF)
Chiron Real Estate (XRN)
Choice Properties REIT (PPRQF)
Crombie Real Estate Investment Trust (CROMF)
Cross Timbers Royalty Trust (CRT)
Capital Southwest Corp. (CSWC)
CT Real Estate Investment Trust (CTRRF)
Chartwell Retirement Residences (CWSRF)
SmartCentres Real Estate Investment Trust (CWYUF)
Decisive Dividend Corp. (DEDVF)
Dynacor Group Inc (DNGDF)
Dream Office REIT (DRETF)
Dream Industrial REIT (DREUF)
Dynex Capital (DX)
Ellington Residential Mortgage REIT (EARN)
Ellington Financial (EFC)
Nexus Industrial REIT (EFRTF)
EPR Properties (EPR)
Exchange Income (EIFZF)
Extendicare Inc. (EXETF)
Flagship Communities REIT (MHCUF)
Freehold Royalties Ltd. (FRHLF)
Firm Capital Mortgage Investment Trust (FCMGF)
First Capital Real Estate Investment Trust (FCXXF)
Firm Capital Property Trust (FRMUF)
Fortitude Gold (FTCO)
Gladstone Capital Corporation (GLAD)
Gladstone Commercial Corporation (GOOD)
Gladstone Investment Corporation (GAIN)
Gladstone Land Corporation (LAND)
Global Water Resources (GWRS)
Granite Real Estate Investment Trust (GRTUF)
Grupo Aval Acciones y Valores S.A. (AVAL)
Grupo Financiero Galicia S.A. (GGAL)
Gamehost Inc. (GHIFF)
GO Residential REIT (GONYF)
Healthpeak Properties (DOC)
H&R Real Estate Investment Trust (HRUFF)
Horizon Technology Finance (HRZN)
Himalaya Shipping Ltd. (HSHP)
InPlay Oil Corp. (IPOOF)
Itaú Unibanco (ITUB)
Invesco Mortgage Capital (IVR)
K-Bro Linen Inc. (KBRLF)
Killam Apartment REIT (KMMPF)
LTC Properties (LTC)
Sienna Senior Living (LWSCF)
Main Street Capital (MAIN)
Mesa Royalty Trust (MTR)
Modiv Inc. (MDV)
Morguard Real Estate Investment Trust (MGRUF)
Flagship Communities REIT (MHCUF)
Minto Apartment REIT (MIAPF)
Mullen Group Ltd. (MLLGF)
Morguard North American REIT (MNARF)
MSC Income Fund (MSIF)
Northland Power Inc. (NPIFF)
Northview Residential REIT (NRRUF)
Olympia Financial Group (OLYFF)
Orchid Island Capital (ORC)
Oxford Square Capital (OXSQ)
Plaza Retail REIT (PAZRF)
Permian Basin Royalty Trust (PBT)
Phillips Edison & Company (PECO)
Pennant Park Floating Rate (PFLT)
Peyto Exploration & Development Corp. (PEYUF)
Pine Cliff Energy Ltd. (PIFYF)
Primaris REIT (PMREF)
PennantPark Investment Corporation (PNNT)
Paramount Resources Ltd. (PRMRF)
PermRock Royalty Trust (PRT)
Pro Real Estate Investment Trust (PRVFF)
Prospect Capital Corporation (PSEC)
Petrus Resources Ltd. (PTRUF)
Permianville Royalty Trust (PVL)
Pizza Pizza Royalty Corp. (PZRIF)
Realty Income (O)
Richards Group Inc. (RPKIF)
RioCan Real Estate Investment Trust (RIOCF)
Saratoga Invesmtent Corp. (SAR)
Sabine Royalty Trust (SBR)
Stellus Capital Investment Corp. (SCM)
Savaria Corp. (SISXF)
San Juan Basin Royalty Trust (SJT)
Sir Royalty Income Fund (SIRZF)
SmartStop Self Storage REIT (SMA)
Source Rock Royalties Ltd. (SRRRF)
Slate Grocery REIT (SRRTF)
Stag Industrial (STAG)
Surge Energy Inc. (ZPTAF)
Timbercreek Financial Corp. (TBCRF)
Trinity Capital (TRIN)
True North Commercial REIT (TUERF)
Telefonica Brasil S.A. (VIV)
UDR, Inc. (UDR)
U.S. Global Investors (GROW)
Vital Industries Property Trust (NWHUF)
Whitecap Resources Inc. (WCPRF)

The 10 Best Monthly Dividend Stocks

This research report examines the 10 monthly dividend stocks from our Sure Analysis Research Database with the highest 5-year forward expected total returns.

We currently cover almost all monthly dividend stocks every quarter in the Sure Analysis Research Database.

Use the table below to quickly jump to analysis on any of the top 10 best monthly dividend stocks as ranked by expected total returns.

Table of Contents

You can instantly jump to any specific section of the article by using the links below:

Monthly Dividend Stock #10: Dynacor Group (DNGDF)

5-Year Expected Total Return: 13.4%

Dynacor is a Canadian industrial gold processor operating in Peru, where it buys ore from artisanal and small-scale miners and processes it at its wholly owned Veta Dorada plant in Chala.

Unlike traditional miners, Dynacor does not explore or mine; it relies on an established ore-purchasing, logistics, lab analysis, and export network to secure high-grade feedstock and maintain efficient, consistent production.

On May 14th, 2026, Dynacor reported its Q1 results for the period ending March 31st, 2026. Dynacor posted record revenue of $154.1 million, up from $80.0 million last year, a massive 92.6% increase driven by stronger gold prices and higher volumes as the company processed more ore at improved recoveries.

Production totaled 32,791 gold-equivalent ounces, up from 27,050 ounces in Q1 2025, setting a first-quarter historical record. During the quarter, gold prices rose from roughly $4,700 per ounce in January to around $5,000 per ounce in February, before pulling back sharply in late March and recovering near month-end.

Net income rose to a record $7.3 million, up from $5.1 million last year. EPS increased to $0.17 from $0.13, while EBITDA reached a record $13.6 million, compared to $7.3 million last year.

While Dynacor continued to absorb higher G&A costs tied to management expansion and international growth initiatives in Senegal and Ecuador, profitability was supported by higher throughput, improved recoveries, and stronger realized gold pricing.

Click here to download our most recent Sure Analysis report on DNGDF (preview of page 1 of 3 shown below):

Monthly Dividend Stock #9: True North Commercial REIT (TUERF)

5-Year Expected Total Return: 13.6%

True North Commercial REIT is a Canadian office REIT that owns and operates a portfolio of single-tenant and select multi-tenant office properties across five provinces.

As of December 31st, 2025, the Trust owned 35 office properties totaling 3.3 million square feet, with 90% occupancy and a weighted average lease term of 4.3 years.

Roughly 75% of revenue is generated from government and credit-rated tenants, providing highly contractual and defensive cash flow despite structural challenges in the office sector.

The portfolio is concentrated in Ontario (notably the GTA and Ottawa), with additional exposure to Alberta, Atlantic Canada, and British Columbia.

On March 17th, 2026, True North Commercial REIT reported Q4 and full-year results for the period ended December 31st, 2025. Quarterly revenue from real estate properties rose 27% year over year to about $29.4 million, mainly due to a $9.1 million early termination payment from an Ottawa tenant, which helped offset the impact of strategic asset sales.

Net operating income increased to $18.4 million, driven by this one-time payment and contractual rent steps, though same-property weakness in Alberta and British Columbia continued to weigh on results.

Portfolio occupancy, excluding assets held for sale, finished the year at 90% with a 4.3-year weighted average lease term, backed by a tenant base that is 75% government or credit-rated.

Full-year 2025 FFO per share was $2.08. For FY2026, we expect FFO/share of $1.51.

Click here to download our most recent Sure Analysis report on TUERF (preview of page 1 of 3 shown below):

Monthly Dividend Stock #8: Bird Construction (BIRDF)

5-Year Expected Total Return: 14.2%

Bird Construction is a leading Canadian construction and maintenance company, providing services in industrial, infrastructure, buildings, and institutional markets.

The company offers a full range of delivery models including general contracting, construction management, and design-build, with strong self-perform capabilities in areas like electrical, mechanical, and specialty trades.

Its activities span sectors such as energy, utilities, transportation, healthcare, education, and mining, with a focus on rather complex, large-scale projects and long-term maintenance and service work.

On May 13th, 2026, Bird Construction reported its Q1 results for the period ending March 31st, 2026. Bird’s construction revenue was $562.9 million, up 9.2% year-over-year, as strong organic growth in Buildings and Infrastructure and the contribution from the acquisition of Fraser River Pile & Dredge.

Bird posted Q1 net income of $8.2 million, or $0.15 per share, while adjusted earnings increased to $10.0 million, or $0.18 per share.

Click here to download our most recent Sure Analysis report on BIRDF (preview of page 1 of 3 shown below):

Monthly Dividend Stock #7: PennantPark Floating Rate Capital (PFLT)

5-Year Expected Total Return: 14.3%

PennantPark Floating Rate Capital Ltd. is a business development company that seeks to make secondary direct, debt, equity, and loan investments.

The fund also aims to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies, equity securities, preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.

On February 10, 2026, PennantPark Floating Rate Capital Ltd. reported fiscal first-quarter 2026 results for the period ended December 31, 2025.

Core net investment income of $0.27 per share, equal to GAAP NII, indicated steady earnings and supported the BDC’s monthly dividend strategy, although it also suggested limited upside versus the current payout.

The company maintained robust deployment activity, investing $301 million at a weighted average yield of 10% across both new and existing portfolio companies, which is a positive for income generation but can elevate risk if credit conditions weaken.

The portfolio remained well diversified with 160 companies across 50 industries and a weighted average yield on debt investments of 9.9%, pointing to stable credit conditions and attractive opportunities, though the breadth of exposure also requires vigilant credit monitoring.

Leverage of 1.57 times at quarter-end was on the higher side, but post-quarter asset sales of $27 million to PSSL I and $133 million to PSSL II brought leverage down to 1.5 times, comfortably within the 1.4 to 1.6 times target range andsupporting sustainable dividend coverage.

Click here to download our most recent Sure Analysis report on PFLT (preview of page 1 of 3 shown below):

Monthly Dividend Stock #6: Horizon Technology Finance (HRZN)

5-Year Expected Total Return: 14.7%

Horizon Technology Finance Corp. is a BDC that provides venture capital to small and medium–sized companies in the technology, life sciences, and healthcare–IT sectors.

The company has generated attractive risk–adjusted returns through directly originated senior secured loans and additional capital appreciation through warrants.

On March 3rd, 2026, Horizon announced its Q4 and full-year 2025 results. For the quarter, total investment income declined 12.2% year-over-year to $20.7 million, primarily due to lower interest income on debt investments from a smaller debt investment portfolio.

The company’s dollar-weighted annualized yield on average debt investments in Q4 2025 and Q4 2024 was 14.3% and 14.9%, respectively.

Net investment income per share (NII) fell year-over-year to $0.18 from $0.27. Net asset value (NAV) per share stood at $6.98, down from $8.43 in the prior year.

Horizon’s undistributed spillover income was $0.65 per share at year-end, still providing some income support for future distributions.

Click here to download our most recent Sure Analysis report on HRZN (preview of page 1 of 3 shown below):

Monthly Dividend Stock #5: Saratoga Investment Corp. (SAR)

5-Year Expected Total Return: 14.8%

Saratoga Investment Corp is a BDC that provides customized debt and equity financing to U.S. middle-market companies, focusing on income generation through predominantly senior credit instruments.

As of February 28th, 2026, the fair value of its investment portfolio was $1.1 billion, excluding $21.8 million in cash and cash equivalents.

The portfolio composition by fair value was $911.0 million in first-lien term loans (82.1%), $42.7 million in second-lien term loans (3.9%), $16.1 million in unsecured loans (1.5%), $54.8 million in structured finance securities (4.9%), and $84.5 million in common equity (7.6%).

SAR’s holdings span 39 distinct industry classifications, with notable exposures in Healthcare Services (largest single sector) at 9.7% of portfolio fair value, Structured Finance Securities at 7.3%, and Consumer Services at 6.0%.

On May 5th, 2026, Saratoga reported its fiscal Q4 and full-year 2026 results. Total investment income declined 0.5% year over year to $31.1 million, reflecting lower short-term interest rates and tighter spreads, partly offset by stronger originations and higher assets under management.

Net asset value declined to $396.2 million, or $24.42 per share, representing a 4.6% decrease quarter over quarter. Net investment income was $7.7 million, or $0.48 per share, compared to $0.56 per share in the prior year period, while adjusted NII was $0.53 per share.

Click here to download our most recent Sure Analysis report on SAR (preview of page 1 of 3 shown below):

Monthly Dividend Stock #4: CION Investment Corporation (CION)

5-Year Expected Total Return: 16.2%

CION Investment Corporation is an externally managed U.S. business development company focused on originating and holding senior secured loans to U.S. middle-market companies, with an emphasis on capital preservation and current income.

As of the end of Q1 2026, CION had investments in 89 portfolio companies, with a diversified credit portfolio concentrated at the top of the capital structure.

By industry exposure, the largest allocations were to Business Services (14.0%), Healthcare & Pharmaceuticals (11.8%), Retail (10.7%), Energy: Electricity (8.4%), and Media: Diversified & Production (6.8%).

The remaining 48.3% is spread across industries each representing less than 6.8% of the portfolio. The investment mix remains conservative, with 80.8% in senior secured first-lien debt.

On May 7th, 2026, CION Investment Corporation reported its Q1 results. Total investment income decreased 7.9% quarter over quarter to $49.5 million, driven by lower transaction fees from reduced repayment and investment activity and lower dividend income.

Net investment income fell to $0.25 per share, a 28.6% decrease from $0.35 per share in the prior quarter, reflecting lower fee and dividend income alongside higher interest expense. Net asset value decreased 4.7% quarter over quarter to $13.11 per share, down from $13.76.

Click here to download our most recent Sure Analysis report on CION (preview of page 1 of 3 shown below):

Monthly Dividend Stock #3: PennantPark Investment Corporation (PNNT)

5-Year Expected Total Return: 16.8%

PennantPark Investment Corporation is a business development company focused on providing private credit to U.S. core middle-market companies, typically with $10–$50 million of EBITDA, through primarily first-lien, senior secured loans.

As of March 31st, 2026, PNNT had a $1.20 billion investment portfolio across 162 companies, with a weighted average yield on interest-bearing debt investments of 10.9%.

The portfolio consisted of 40% first-lien secured debt, 2% second-lien secured debt, 17% subordinated debt, 24% preferred and common equity, and 17% U.S. Government Securities.

The interest-bearing debt portfolio was 88% variable rate, and four portfolio companies were on non-accrual, representing 1.3% of the portfolio at fair value.

On May 7th, 2026, PennantPark Investment reported its fiscal Q2 results. For the quarter, total investment income declined year over year to $24.9 million from $30.7 million, driven by a smaller portfolio and lower weighted average yields.

Net investment income fell to $9.3 million, or $0.14 per share, from $11.4 million, or $0.18 per share, a 22% decline in per-share earnings.

PennantPark reported a net decrease in net assets from operations of $2.3 million, or $0.04 per share, compared with an increase of $9.5 million, or $0.14 per share, a year ago.

Click here to download our most recent Sure Analysis report on PNNT (preview of page 1 of 3 shown below):

Monthly Dividend Stock #2: Oxford Square Capital (OXSQ)

5-Year Expected Total Return: 17.6%

Oxford Square Capital Corp. is a BDC (Business Development Company) specializing in financing early- and middle-stage businesses through loans and investments in collateralized loan obligations.

At the end of 2025, the total fair value of Oxford Square’s investment portfolio was about $251.7 million across its debt, CLO equity, and equity/other holdings, allocated about 58.5% to senior secured debt, 37.8% to CLO equity, and roughly 3.7% to equity or other investments.

On March 3rd, 2026, Oxford Square Capital reported its Q4 and full-year results for the period ending December 31st, 2025.

The company generated about $10.4 million in total investment income, a slight increase compared with $10.2 million in Q4 2024, as higher income from securitization vehicles and other sources helped offset a decline in stated interest income from debt investments.

The weighted average yield on debt investments decreased to 14.5% from 15.8% a year earlier. The weighted average effective yield on CLO equity investments stood at 8.6%, modestly lower than the 8.8% recorded in Q4 2024.

Total expenses rose to $5.0 million, compared with $4.2 million in the prior-year period, primarily reflecting higher interest expenses following the issuance of the company’s new 7.75% unsecured notes due 2030.

Net investment income (NII) came in at approximately $5.4 million, or $0.07 per share, versus $6.0 million, or $0.09 per share, in Q4 2024. NAV per share fell to $1.69 at year-end, a significant decline from $2.30 a year earlier..

Click here to download our most recent Sure Analysis report on OXSQ (preview of page 1 of 3 shown below):

Monthly Dividend Stock #1: Ellington Credit Co. (EARN)

5-Year Expected Total Return: 18.8%

Ellington Credit Co. acquires, invests in, and manages residential mortgage and real estate related assets.

Ellington focuses primarily on residential mortgage-backed securities, specifically those backed by a U.S. Government agency or U.S. government–sponsored enterprise.

Agency MBS are created and backed by government agencies or enterprises, while non-agency MBS are not guaranteed by the government.

On March 4th, 2026, Ellington Credit reported its third fiscal quarter results for the period ending December 31, 2025. The company suffered a net loss of $(21.1) million, or $(0.56) per share.

Ellington achieved adjusted net investment income of $7.8 million in the quarter, or $0.21 per share. At quarter end, Ellington had $24.3 million in cash and cash equivalents.

Click here to download our most recent Sure Analysis report on EARN (preview of page 1 of 3 shown below):

Other Monthly Dividend Stock Resources

Each separate monthly dividend stock has its own unique characteristics. The resources below will give you a better understanding of monthly dividend stock investing.

The following research reports will help you generate more monthly dividend stock investment ideas.

Why Monthly Dividends MatterMonthly dividend payments are beneficial for one group of investors in particular; retirees who rely on dividend stocks for income.

With that said, monthly dividend stocks are better under all circumstances (everything else being equal), because they allow for returns to be compounded on a more frequent basis. More frequent compounding results in better total returns, particularly over long periods of time.

Consider the following performance comparison:

Over the long run, monthly compounding generates slightly higher returns over quarterly compounding. Every little bit helps.

With that said, it might not be practical to manually re-invest dividend payments on a monthly basis. It is more feasible to combine monthly dividend stocks with a dividend reinvestment plan to dollar cost average into your favorite dividend stocks.

The last benefit of monthly dividend stocks is that they allow investors to have – on average – more cash on hand to make opportunistic purchases. A monthly dividend payment is more likely to put cash in your account when you need it versus a quarterly dividend.

Case-in-point: Investors who bought a broad basket of stocks at the bottom of the 2008-2009 financial crisis are likely sitting on triple-digit total returns from those purchases today.

The Dangers of Investing In Monthly Dividend StocksMonthly dividend stocks have characteristics that make them appealing to do-it-yourself investors looking for a steady stream of income. Typically, these are retirees and people planning for retirement.

Investors should note many monthly dividend stocks are highly speculative. On average, monthly dividend stocks tend to have elevated payout ratios. An elevated payout ratio means there’s less margin for error to continue paying the dividend if business results suffer a temporary (or permanent) decline.

As a result, we have real concerns that many monthly dividend payers will not be able to continue paying rising dividends in the event of a recession.

Additionally, a high payout ratio means that a company is retaining little money to invest for future growth. This can lead management teams to aggressively leverage their balance sheet, fueling growth with debt. High debt and a high payout ratio is perhaps the most dangerous combination around for a potential future dividend reduction.

With that said, there are a handful of high-quality monthly dividend payers around. Chief among them is Realty Income (O). Realty Income has paid increasing dividends (on an annual basis) every year since 1994.

The Realty Income example shows that there are high-quality monthly dividend payers around, but they are the exception rather than the norm. We suggest investors do ample due diligence before buying into any monthly dividend payer.

Final Thoughts & Other Income Investing Resources

Financial freedom is achieved when your passive investment income exceeds your expenses. But the sequence and timing of your passive income investment payments can matter.

Monthly payments make matching portfolio income with expenses easier. Most personal expenses recur monthly whereas most dividend stocks pay quarterly. Investing in monthly dividend stocks matches the frequency of portfolio income payments with the normal frequency of personal expenses.

Additionally, many monthly dividend payers offer investors high yields. The combination of a monthly dividend payment and a high yield should be especially appealing to income investors.

But not all monthly dividend payers offer the safety that income investors need. A monthly dividend is better than a quarterly dividend, but not if that monthly dividend is reduced soon after you invest. The high payout ratios and shorter histories of most monthly dividend securities mean they tend to have elevated risk levels.

Because of this, we advise investors to look for high-quality monthly dividend payers with reasonable payout ratios, trading at fair or better prices.

Additionally, see the resources below for more compelling investment ideas for dividend growth stocks and/or high-yield investment securities.