2024 Monthly Dividend Stocks List
2024 Monthly Dividend Stocks List
2024 Monthly Dividend Stocks List
9%
Sure Dividend
HIGH-QUALITY DIVIDEND STOCKS, LONG-TERM PLAN
Monthly dividend stocks are securities that pay a dividend every month
instead of quarterly or annually.
This list contains important metrics, including: dividend yields, payout ratios,
dividend growth rates, 52-week highs and lows, betas, and more.
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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
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You can instantly jump to any specific section of the article by using the links
below:
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.
AGNC Investment Corp. announced its fourth quarter 2023 financial results
on January 22, 2024, reporting a comprehensive income of $1.00 per
common share, including $0.57 net income and $0.43 other comprehensive
income per share.
The quarter saw a $0.60 net spread and dollar roll income per common share
and ended with a tangible net book value of $8.70 per share. The quarter’s
dividends were declared at $0.36 per share, contributing to a 12.1% economic
return on tangible common equity. The investment portfolio was valued at
$60.2 billion, with a leverage of 7.0x tangible net book value.
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On August 1st, 2023, Horizon released its Q2 results for the period ending
June 30th, 2023. For the quarter, total investment income grew 51.3% year-
over-year to $28.1 million, primarily due to growth in interest income on
investments resulting from an increase in the average size of the debt
investment portfolio and an increase in the base rate for most of the
company’s variable rate debt investments.
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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.
On February 27th, 2024, Ellington Financial reported its Q4 results for the
period ending December 31st, 2023. Due to the company’s business model,
Ellington doesn’t report any revenues. Instead, it records only income. For the
quarter, gross interest income came in at $98.7 million, up 2.6% quarter-over-
quarter.
Ellington’s strong numbers from its residential transition loan portfolio and
its Agency and non-agency MBS didn’t offset dilution and expenses related to
the merger with Arlington Asset and net losses from Longbridge and other
positions, leading to a small negative economic return overall for the quarter.
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Stellus posted fourth quarter and full-year earnings on March 4th, 2024, and
results were somewhat mixed. The BDC posted fiscal year adjusted NII of
$1.92, which beat estimates by 19 cents. Total investment income, which is
akin to revenue, was up 41% year-over-year to $106 million, and missed
estimates by over $5 million. Stellus noted that its loan portfolio is yielding
11.9% as of the end of the year.
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EPR Properties is a specialty real estate investment trust, or REIT, that invests
in properties in specific market segments that require industry knowledge to
operate effectively. It selects properties it believes have strong return potential
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EPR posted fourth quarter and full-year earnings on February 28th, 2024, and
results were slightly better than expected. The trust posted funds-from-
operations per-share of $1.16, which was in line with estimates. FFO-per-
share was down, however, from $1.47 in Q3 and from $1.25 in last year’s Q4.
However, revenue was down nearly 4% year-over-year to $172 million. That
was still $16 million better than expected.
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LTC Properties is a REIT that invests in senior housing and skilled nursing
properties. Its portfolio consists of approximately 50% senior housing and
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50% skilled nursing properties. The REIT owns 208 investments in 27 states
with 29 operating partners.
The decrease in FFO per share resulted from lower rental income due to the
sale of some properties, which more than offset higher interest income. LTC
reduced its leverage ratio (Net Debt to EBITDA) from 6.0x in the previous
quarter to 5.5x.
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Agree Realty Corp. (ADC) is an integrated real estate investment trust (REIT)
focused on ownership, acquisition, development, and retail property
management. Richard Agree founded Agree Development Company in 1971,
which is the predecessor to Agree Realty Corporation. Agree has developed
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On October 24th, 2023, Agree Realty Corp. reported third quarter results for
Fiscal Year (FY)2023. The company revealed significant investment activity
and positive performance metrics. The company invested $411 million in 98
retail net lease properties and completed eight development projects totaling
over $41 million in committed capital. Adjusted Funds from Operations
(AFFO) per share rose by 4.2% to $1.00.
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Itaú Unibanco Holding S.A. is headquartered in Sao Paulo, Brazil. The bank
has operations across South America and other places like the United States,
Portugal, Switzerland, China, Japan, etc.
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Notably, the credit card portfolio surged by 6.1%, particularly towards the end
of the year, with a substantial 10.4% growth in internal channels. Despite a
marginal decline of 0.2% in personal loans, the margin with clients
experienced a notable 2.9% increase, concluding the quarter at $5.3 billion.
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On November 7th, 2023, Ellington Financial reported its Q3 results for the
period ending September 30th, 2023. Due to the company’s business model,
Ellington doesn’t report any revenues. Instead, it records only income. For the
quarter, gross interest income came in at $96.2 million, up 9.2% quarter-over-
quarter.
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The following research reports will help you generate more monthly dividend
stock investment ideas.
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.
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Over the long run, monthly compounding generates slightly higher returns
over quarterly compounding. Every little bit helps.
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.
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.
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.
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.
Additionally, see the resources below for more compelling investment ideas
for dividend growth stocks and/or high-yield investment securities.
Thanks for reading this article. Please send any feedback, corrections, or
questions to [email protected].
ARTICLES
GOLDEN RULE COMMITMENT
C O N TA C T - L E G A L - T E S T I M O N I A L S
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