Top 20 Highest Yielding Monthly Dividend Stocks Now

Updated on June 2nd, 2025 by Bob Ciura

Monthly dividend stocks have instant appeal for many income investors. Stocks that pay their dividends each month offer more frequent payouts than traditional quarterly or semi-annual dividend payers.

For this reason, we created a full list of nearly 80 monthly dividend stocks.

You can download our full Excel spreadsheet of all monthly dividend stocks (along with metrics that matter like dividend yield and payout ratio) by clicking on the link below:

In addition, stocks that have high dividend yields are also attractive for income investors.

With the average S&P 500 yield hovering around 1.3%, investors can generate much more income with high-yield stocks. Screening for monthly dividend stocks that also have high dividend yields makes for an appealing combination.

This article will list the 20 highest-yielding monthly dividend stocks.

The following 20 monthly dividend stocks have high dividend yields above 5%. Stocks are listed by their dividend yields, from lowest to highest.

The list excludes oil and gas royalty trust, which have extreme fluctuations in their dividend payouts from one quarter to the next due to the underlying volatility of commodity prices.

You can instantly jump to an individual section of the article by utilizing the links below:

High-Yield Monthly Dividend Stock #20: Apple Hospitality REIT (APLE)

Apple Hospitality REIT is a hotel REIT that owns a portfolio of hotels with tens of thousands of rooms located in scores of markets and across dozens of states. It franchises its properties out to leading brands, including Marriott branded hotels, Hilton-branded hotels, and Hyatt-branded hotels.

As of its latest filings, Apple Hospitality owned 219 hotels with a total of 29,558 guest rooms across 37 states and the District of Columbia.

On May 1st, 2025, Apple Hospitality REIT released its Q1 results for the period ending March 31st, 2025. The company reported total revenue of $327.7 million for the quarter, representing a 0.5% decrease compared to the prior year.

Performance remained steady, with strength in average daily rate (ADR) partially offset by a modest decline in occupancy. Comparable Hotels ADR rose 1.0% to $156.56, while occupancy declined 1.5% to 71.1%, resulting in a slight 0.5% year-over-year decrease in revenue per available room (RevPAR) to $111.36.

Despite this marginal top-line softness, the company maintained solid profitability, though margin pressure persisted. Comparable Hotels Adjusted Hotel EBITDA declined 5.4% year-over-year to $104.9 million, with margins narrowing by 180 basis points to 32.3%.

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

High-Yield Monthly Dividend Stock #19: Gladstone Commercial (GOOD)

Gladstone Commercial Corporation is a real estate investment trust, or REIT, that specializes in single-tenant and anchored multi-tenant net leased industrial and office properties across the U.S.

The trust targets primary and secondary markets that possess favorable economic growth trends, growing populations, strong employment, and robust growth trends.

The trust’s stated goal is to pay shareholders monthly distributions, which it has done for more than 17 consecutive years. Gladstone owns over 100 properties in 24 states that are leased to about 100 unique tenants.

Gladstone posted first quarter earnings on May 8th, 2025, and results were in line with expectations. Q1 funds-from operations came to 34 cents, meeting expectations. Revenue was $37.5 million, fractionally beating estimates.

This was higher than the $35.7 million from a year ago on higher recovery revenues and rental rates, partially offset by lower variable lease payments from prior property sales.

Operating expenses increased from $23.3 million to $23.9 million, reflecting inflationary pressures and higher incentive fees. Net assets grew from $1.09 billion to $1.16 billion due to new acquisitions. Cash rent collection was 100% for the entirety of the quarter.

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

High-Yield Monthly Dividend Stock #18: Firm Capital Property Trust (FRMUF)

Firm Capital Property Trust is a Canadian REIT that owns and co-owns a diversified portfolio of income-producing real estate across three core segments: industrial, multi-residential/manufactured home communities (MHCs), and grocery anchored and service-based retail.

The Trust emphasizes capital preservation and disciplined investing, often partnering with institutional-grade operators through joint ventures.

As of its latest report, its portfolio has over 2.5 million square feet of commercial space, alongside nearly 600 apartment units and 537 MHC sites, with properties located in necessity based markets across Ontario, Quebec, Alberta, and the Maritimes.

On March 31st, 2025, Firm Capital posted its financial results for the quarter ended December 31st, 2024. Rental revenue for the quarter totaled about $11.22 million, powered by strong occupancy across its diversified portfolio of industrial, residential, and retail properties.

Overall portfolio occupancy remained high, with residential and manufactured home communities operating near or at full capacity, and retail and industrial assets maintaining solid leasing levels.

Net operating income (NOI) came in at about $7.17 million, reflecting the Trust’s disciplined operating cost management and steady rental performance. Funds from Operations (FFO) for Q4 were about $3.80 million, or $0.103 per unit.

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

High-Yield Monthly Dividend Stock #17: Diversified Royalties Corp. (BEVFF)

Diversified Royalty is a Canadian royalty firm that acquires trademark and royalty rights from multi-location businesses and franchisors across North America.

Its portfolio includes a mix of service, retail, and consumer-facing brands such as Mr. Lube + Tires, Sutton, Oxford Learning, Mr. Mikes, Nurse Next Door, Stratus, BarBurrito, and the AIR MILES Reward Program.

The company earns royalty income based on system sales, agent counts, or fixed payments depending on the partner, and supplements this with management fees.

Its model is structured around long-term royalty agreements that typically come with inflation-linked or fixed annual escalators.

On March 21st, 2025, Diversified Royalty reported its Q4 and full-year results for the period ending December 31st, 2024. Adjusted revenue for the year rose 22.8% to about $43.1 million, driven by the full-year contribution from Stratus and new royalties from BarBurrito.

Adjusted royalty income reached $42.8 million, while normalized EBITDA grew 23.0% to $40.1 million. Distributable cash increased 18.0% to 26.7 million, or about 0.19 per share, compared to 0.18 the prior year.

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

High-Yield Monthly Dividend Stock #16: Freehold Royalties Ltd. (FRHLF)

Freehold Royalties is a Canadian energy company. Freehold Royalties does not own upstream oil production facilities directly. Rather, it partners with operators, providing upfront cash in return for a cut of future oil and gas production volumes.

Freehold currently has about 360 royalty partners and has exposure to more than 7 million gross acres of land across the U.S. and Canada. Revenues are a nearly 50/50 split between the U.S. and Canada.

The company’s top three production areas are the Midland and Eagle Ford basins in the U.S. along with Canadian heavy oil production in the province of Alberta.

On March 12th, Freehold Royalties reported its Q4 and full-year 2024 results. The company’s top-line revenues dipped slightly in Q4, falling from C$80 million in the same quarter of 2023 to C$77 million now.

And that’s worse than it seems at first glance, as Freehold spent significant sums of capital on acquisitions in 2024 to bolster its royalty coverage.

Specifically, the company’s net debt jumped from C$101 million at the end of 2023 to C$282 million at the end of 2024. Despite that, the company’s funds from operations slipped slightly in 2024 versus the prior year.

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

High-Yield Monthly Dividend Stock #15: Whitecap Resources (SPGYF)

Whitecap Resources is a Canadian energy company engaged in the acquisition, development, and production of oil and natural gas across Western Canada.

Its asset base is characterized by high-netback, low decline production and significant infrastructure ownership.

The company’s portfolio has both light and medium crude oil assets, supported by owned and operated infrastructure such as gas plants and processing facilities.

It markets its production domestically and into the U.S., with exposure to benchmark pricing through various sales channels.

On April 23rd, 2025, Whitecap Resources reported its first-quarter results for the period ending March 31st, 2025. For the quarter, revenue was about $678 million, an increase from $625 million in Q1 2024. Net revenue after royalties came in at $564 million.

The change was influenced by modest commodity price dynamics and realized gains of $9.86 million on commodity contracts, although unrealized losses were not detailed in the quarterly release.

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

High-Yield Monthly Dividend Stock #14: Sir Royalty Income Fund (SIRZF)

SIR Royalty Income Fund is a Canadian entity which collects and distributes a dividend stream based on royalties earned from the Jack Astor’s, Scaddabush, Reds Square One, and Loose Moose Tap & Grill restaurant brands. The parent SIR Corp. retains about 16% ownership of the royalty income fund, helping align its interests with shareholders.

SIR Royalty has claims on the royalties of 52 restaurants locations as of Jan. 1st, 2025. 45 of these restaurants are found within the province of Ontario; the company is heavily reliant on the Greater Toronto Metro area for its business.

The majority of the company’s total locations are for Jack Astor’s, which is a bar and grill concept. Scaddabush, an Italian chain, is the other significant driver of SIR’s revenues.

On March 25th, the company reported its fiscal Q2 2025 results. Revenues jumped 10.4% to $65.5 million Canadian Dollars year-over-year. However, much of that growth was from new restaurant openings, as same-store sales were up 3.7%. Scaddabush led the way with 9.3% growth figure for the first 12 weeks of the year.

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

High-Yield Monthly Dividend Stock #13: Bridgemarq Real Estate (BREUF)

Bridgemarq Real Estate Services is a leading Canadian real estate services company that provides branding, technology, and support to real estate brokers and over 21,000 realtors across Canada. Its portfolio includes nationally recognized brands such as Royal LePage, Via Capitale, Proprio Direct, and Johnston & Daniel.

The company earns revenue primarily from fixed and variable franchise fees, generating cash flow stability that is less sensitive to fluctuations in the housing market.

On March 17th, 2025, Bridgemarq Real Estate Services reported its full-year results for the period ending December 31st, 2024. Total revenue surged to $243.9 million, up from $36.6 million in 2023, as a result of the acquisition of brokerage operations and the internalization of management earlier in the year.

Despite the revenue growth, Bridgemarq recorded a net loss of $0.76 per share, primarily due to higher amortization, interest expenses, and a loss on the revaluation of exchangeable units.

Adjusted EPS came in at $0.34, reflecting declines from the prior year due to the increased expense base associated with the acquired businesses.

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

High-Yield Monthly Dividend Stock #12: Timbercreek Financial Corp. (TBCRF)

Timbercreek Financial is a Canadian non-bank lender specializing in shorter-duration, structured financing solutions for commercial real estate investors.

The company provides primarily first-mortgage loans for income-producing properties, including multi-residential, retail, industrial, and office assets. Its loans are typically used for acquisition, redevelopment, or transitional financing, and are often repaid through term financing or asset sales.

Timbercreek’s portfolio is 100% commercial real estate-focused and highly urban, with about 92% of capital invested in Ontario, British Columbia, Quebec, and Alberta.

On February 25th, 2025, Timbercreek Financial reported its full-year results for the period ending December 31st, 2024. Distributable income for the year was $45.4 million, or $0.55 per share, compared to $49.3 million, or $0.59 per share, in 2023.

This reflected lower average portfolio balances and a bit lower interest rates, partly offset by stronger origination activity in the second half of the year.

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

High-Yield Monthly Dividend Stock #11: PennantPark Floating Rate Capital (PFLT)

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.

PennantPark Floating Rate Capital reported its fiscal second-quarter 2025 results for the period ending March 31, 2025. The company achieved net investment income (NII) of $25.0 million, or $0.28 per share, which fell short of the consensus estimate of $0.33 per share, marking a 15.15% earnings miss. Total investment income for the quarter was $61.9 million, also below expectations.

Despite the earnings miss, PFLT maintained its monthly distribution of $0.1025 per share, totaling $0.3075 for the quarter. The company’s investment portfolio grew to $2.34 billion, up from $1.98 billion in the previous quarter, with a weighted average yield on debt investments of 10.5%.

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

High-Yield Monthly Dividend Stock #10: Stellus Capital (SCM)

Stellus Capital Management provides capital solutions to companies with $5 million to $50 million of EBITDA and does so with a variety of instruments, the majority of which are debt.

Stellus provides first lien, second lien, mezzanine, convertible debt, and equity investments to a diverse group of customers, generally at high yields, in the US and Canada.

Stellus posted fourth quarter and full-year earnings on March 4th, 2025, and results were about as expected. The company saw investment income total $25.6 million, which was off from $28 million a year ago. This is mostly interest income from the company’s portfolio, and is akin to revenue.

Gross operating expenses were $16 million, better than the $16.4 million a year ago. Net investment income was $9.6 million, or 35 cents per share, in Q4. One year ago, those were $11.9 million, and 49 cents per share, respectively. Shares outstanding hurt NII per-share as they rose from 24.1 million to more than 27 million.

For the fourth quarter, the company’s investment portfolio had a net change in unrealized depreciation of -$6.9 million, down sharply from net appreciation of $27 million a year ago. Net realized gains were $6 million this quarter, much better than the $30.5 million loss a year ago.

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

High-Yield Monthly Dividend Stock #9: Ellington Financial (EFC)

Ellington Financial Inc. acquires and manages mortgage, consumer, corporate, and other related financial assets in the United States.

The company acquires and manages residential mortgage–backed securities (RMBS) backed by prime jumbo, Alt–A, manufactured housing, and subprime residential mortgage loans.

Additionally, it manages RMBS, for which the U.S. government guarantees the principal and interest payments. It also provides collateralized loan obligations, mortgage–related and non–mortgage–related derivatives, equity investments in mortgage originators and other strategic investments.

You can see a snapshot of Ellington’s investment portfolio in the image below:

Source: Investor Presentation

On February 27th, 2025, Ellington Financial reported its Q4 results for the period ending December 31st, 2024. As with previous quarters, the company reported only income, not revenues. Gross interest income totaled $108.0 million, a notable increase from Q3, driven by higher contribution from Longbridge and expansion in several credit verticals.

Adjusted EPS came in at $0.45, up five cents sequentially. The increase was led by strong originations and securitization-related gains at Longbridge, which continues to be a major earnings engine.

The Agency strategy remained a drag on performance, reporting a net loss of $0.04 per share, as hedging gains couldn’t fully offset RMBS losses in the rising rate environment.

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

High-Yield Monthly Dividend Stock #8: AGNC Investment Corporation (AGNC)

American Capital Agency Corp is a mortgage real estate investment trust that invests primarily in agency mortgage–backed securities (or MBS) on a leveraged basis.

The firm’s asset portfolio is comprised of residential mortgage pass–through securities, collateralized mortgage obligations (or CMO), and non–agency MBS. Many of these are guaranteed by government–sponsored enterprises.

Source: Investor Presentation

On April 22, 2025, AGNC Investment Corp. reported its financial results for the first quarter of 2025. The company announced a comprehensive income of $0.12 per common share, which included $0.02 in net income and $0.10 in other comprehensive income.

The tangible net book value per common share decreased by 1.9% from the previous quarter, ending at $8.25 as of March 31, 2025. AGNC achieved a 2.4% economic return on tangible common equity for the quarter, comprising $0.36 in dividends declared and a $0.16 decline in tangible book value.

The company’s net spread and dollar roll income was $0.44 per share, an increase from $0.37 in the prior quarter, reflecting improved earnings from its investment portfolio.

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

High-Yield Monthly Dividend Stock #7: Prospect Capital (PSEC)

Prospect Capital Corporation is a Business Development Company, or BDC, that provides private debt and private equity to middle–market companies in the U.S.

The company focuses on direct lending to owner–operated companies, as well as sponsor–backed transactions. Prospect invests primarily in first and second lien senior loans and mezzanine debt, with occasional equity investments.

Prospect posted third quarter earnings on May 8th, 2025, and results were mixed once again. Earnings came to 19 cents, which beat estimates by a nickel. Earnings were off from 20 cents in Q2, and from 23 cents in last year’s Q3.

Total investment income, however, plummeted 16% year-over-year to $171 million, and missed estimates by almost $4
million.

Total originations were $196 million, up from $135 million in Q2. Total repayments and sales were $192 million, down from $383 million in Q2.

Originations net of repayments and sales came to $5 million in Q3, up from -$248 million in Q2. Net originations quarter-to-date in Q4 were $45 million as of the earnings report.

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

High-Yield Monthly Dividend Stock #6: Dynex Capital (DX)

Dynex Capital invests in mortgage–backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non–agency MBS consisting of residential MBS, commercial MBS (CMBS), and CMBS interest–only securities.

Source: Investor Presentation

On April 21, 2025, Dynex Capital, Inc. reported its financial results for the first quarter ended March 31, 2025. The company achieved a total economic return of $0.33 per common share, representing 2.6% of the beginning book value, comprised of dividends declared of $0.47 per common share offset by a decline in book value of $0.14 per share. Book value per common share stood at $12.56 as of March 31, 2025.

Dynex reported a comprehensive income of $0.16 per common share and a net loss of $0.06 per common share. Net interest income increased to $17.1 million, a 147% surge from the previous quarter, driven by new investments at attractive yields and declining financing costs.

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

High-Yield Monthly Dividend Stock #5: Ellington Credit Co. (EARN)

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 12th, 2025, Ellington Residential reported its fourth quarter results for the period ending December 31, 2024. The company generated a net loss of $(2.0) million, or $(0.07) per share.

Ellington achieved adjusted distributable earnings of $7.8 million in the quarter, leading to adjusted earnings of $0.27 per share, which covered the dividend paid in the period.

Ellington’s net interest margin was 5.07% overall. At quarter end, Ellington had $31.8 million of cash and cash equivalents, and $79 million of other unencumbered assets.

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

High-Yield Monthly Dividend Stock #4: Horizon Technology (HRZN)

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.

Source: Investor Presentation

On April 29th, 2025, Horizon announced its Q1 results for the period ending March 31st, 2025. For the quarter, total investment income fell 6.2% year-over-year to $24.5 million, primarily due to lower interest income on investments from the debt investment portfolio.

More specifically, the company’s dollar-weighted annualized yield on average debt investments in Q1 of 2025 and Q1 of 2024 was 15.0% and 15.6%, respectively.

Net investment income per share (IIS) fell to $0.27, down from $0.38 compared to Q1-2024. Net asset value (NAV) per share landed at $7.57, down from $9.64 year-over-year and $8.43 sequentially.

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

High-Yield Monthly Dividend Stock #3: ARMOUR Residential REIT (ARR)

ARMOUR Residential invests in residential mortgage-backed securities that include U.S. Government-sponsored entities (GSE) such as Fannie Mae and Freddie Mac.

It also includes Ginnie Mae, the Government National Mortgage Administration’s issued or guaranteed securities backed by fixed-rate, hybrid adjustable-rate, and adjustable-rate home loans.

Unsecured notes and bonds issued by the GSE and the US Treasury, money market instruments, and non-GSE or government agency-backed securities are examples of other types of investments.

On April 23, 2025, ARMOUR Residential REIT reported its financial results for the first quarter of 2025. The company announced a GAAP net income available to common stockholders of $24.3 million, or $0.32 per common share.

Distributable earnings, a non-GAAP measure, were $64.6 million, equating to $0.86 per common share. Net interest income for the quarter stood at $36.3 million.

The average interest income on interest-earning assets was 5.00%, while the interest cost on average interest-bearing liabilities was 4.51%, resulting in an economic net interest spread of 1.88%. The company’s book value per common share decreased to $18.59 from $19.07 at the end of 2024, and the total economic return for the quarter was 1.26%.

Click here to download our most recent Sure Analysis report on ARMOUR Residential REIT Inc (ARR) (preview of page 1 of 3 shown below):

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

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 last quarter, the total fair value of Oxford Square’s investment portfolio stood at about $243.2 million across 61 positions, allocated approximately 61% in secured debt (48% first-lien, 13% second-lien), 38% in CLO equity, and about 1% in equity or other investments. Last year, the BDC generated roughly $42.7 million in total investment income.

On April 25th, 2025, Oxford Square Capital reported its first-quarter 2025 results for the period ending March 31st, 2025. The company generated about $10.2 million in total investment income, down slightly from $10.7 million in Q1 2024, mainly due to lower interest income from debt investments.

The weighted average yield on debt investments fell to 14.3%, down from 15.8% at year-end. The BDC’s effective yield on CLO equity investments rose slightly to 9.0%, while the cash distribution yield on cash-generating CLO equity declined marginally to 16.0%. Total expenses were $4.1 million, roughly flat compared to $4.2 million in Q1 2024.

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

High-Yield Monthly Dividend Stock #1: Orchid Island Capital (ORC)

Orchid Island Capital is a mortgage REIT that is externally managed by Bimini Advisors LLC and focuses on investing in residential mortgage-backed securities (RMBS), including pass-through and structured agency RMBSs.

These financial instruments generate cash flow based on residential loans such as mortgages, subprime, and home-equity loans.

Source: Investor Presentation

On April 24, 2025, Orchid Island Capital reported its financial results for the first quarter of 2025. The company announced a net income of $17.1 million, or $0.18 per common share, a decrease from $19.8 million, or $0.38 per share, in the same quarter of the previous year.

Net interest income improved to $19.7 million, driven by a higher average yield on Agency RMBS of 5.41% and a reduction in borrowing costs to 4.29%.

Total expenses for the quarter were $4.2 million, and the company recorded net realized and unrealized gains of $1.6 million on RMBS and derivative instruments. The book value per share declined to $7.94 as of March 31, 2025, from $8.09 at the end of 2024.

Click here to download our most recent Sure Analysis report on Orchid Island Capital, Inc. (ORC) (preview of page 1 of 3 shown below):

Final Thoughts

Monthly dividend stocks could be more appealing to income investors than quarterly or semi-annual dividend stocks. This is because monthly dividend stocks make 12 dividend payments per year, instead of the usual 4 or 2.

Furthermore, monthly dividend stocks with high yields above 5% are even more attractive for income investors.

The 20 stocks on this list have not been vetted for dividend safety, meaning each investor should understand the unique risk factors of each company.

That said, these 20 dividend stocks make monthly payments to shareholders, and all have high dividend yields.