US Stocks that pay monthly dividends (Full list by sector)

For this post, we will share the list of US stocks that pay monthly dividends! All these stocks are American companies (mid or large cap) with a minimum market capitalization of $300M. I excluded small caps stocks, because they are generally more risky. You will also find at the end of this post my top picks, 6 monthly dividend paying stocks with a track record of increasing their dividends.

Monthly dividend stocks are a great way to generate a regular passive income. As you can see below, the list is dominated by Reits (real estate investment trusts). For each company, we will provide the dividend yield, the pay out ratio and the dividend growth over the past five years.

Full list of ‘Dividend Kings’ stocks by sector

Best dividend stocks to buy – Dividend aristocrats

Canadian dividend aristocrats list by sector

How to select monthly dividend stocks?

Look at the payout ratio

The dividend payout ratio is the amount of dividend distributed by a company divided by the total earnings. For example, a company makes a profit of $ 100 and pays $ 40 in dividends. Its payout ratio is 40%.

If the ratio is high, the company pays almost all of its profits in dividends. There will be little money left in the coffers to innovate or expand to new markets;

It is preferable to invest in a company where the dividend payout ratio is low or medium. The reasoning is that these companies will have money set aside to invest in new projects and thus create growth;

Another variation of payout ratio (Trailing div / Earnings) is the payout ratio to cash (Div / Free cash flows). Earnings can be easily manipulated, so analysts use the payout ratio to cash to assess the safety of dividends better. The website ‘Marketbeat‘ provides the payout ratio to cash for Canadian stocks.

Focus on total return

When one wishes to invest in a stocks that pay monthly dividends, it is essential to pay attention to their performance and growth potential. The most common mistake is to invest in stocks with high dividend yields. This strategy is risky. Here’s why :

• A stock can pay a high dividend yield, but is it sustainable? Some companies have a payout ratio that is close to and even exceeds 100%. They manage to post desirable dividend yields, but if we look at the growth prospects, it’s almost nil;

• Investors sometimes shun companies for lack of growth potential or actual risk of lower revenues in the future. These companies experience a drop in the price of their shares, and this causes the dividend yield to become abnormally high. Sooner or later, these businesses will have to cut their dividend.

Real Estate

TickerNameDividend
Yield
Years of
Dividend
Increases
ORealty Income Corp.5.8%26
STAGSTAG Industrial Inc4.0%13
ADCAgree Realty Corp.5.3%11
LANDGladstone Land Corp4.3%9
EPREPR Properties8.4%3
APLEApple Hospitality REIT Inc5.9%2
WSRWhitestone REIT4.2%2
AGNCAGNC Investment Corp14.8%0
ARRARMOUR Residential REIT Inc14.9%0
DXDynex Capital, Inc.12.8%0
EARNEllington Residential Mortgage REIT13.7%0
GIPRGeneration Income Properties Inc12.4%0
GOODGladstone Commercial Corp8.9%0
LTCLTC Properties, Inc.7.2%0
ORCOrchid Island Capital Inc16.5%0
SLGSL Green Realty Corp.5.8%0
BREUFBridgemarq Real Estate Services Inc0.0% 
BSRTFBSR Real Estate Investment Trust0.0% 
CDPYFCanadian Apartment Properties Real Estate Investment Trust0.0% 
CWYUFSmartCentres Real Estate Investment Trust0.0% 
FRMUFFirm Capital Property Trust0.0% 
HRUFFH&R Real Estate Investment Trust0.0% 
RIOCFRioCan Real Estate Investment Trust0.0% 
Source: Suredividends as of April 3rd 2024

List of dividend aristocrats that pay monthly dividends

Financial Services

TickerNameDividend YieldYears of
Dividend
Increases
MAINMain Street Capital Corporation6.1%9
GAINGladstone Investment Corporation6.9%2
GLADGladstone Capital Corp.9.8%2
HRZNHorizon Technology Finance Corp11.8%2
PFLTPennantPark Floating Rate Capital Ltd11.0%2
PPRQFChoice Properties Real Estate Investment Trust5.3%2
SCMStellus Capital Investment Corp12.2%2
ITUBItau Unibanco Holding S.A.6.2%1
BBDBanco Bradesco S.A.1.8%0
DREUFDream Industrial Real Estate Investment Trust5.4%0
EFCEllington Financial Inc13.7%0
GROWU.S. Global Investors, Inc.3.1%0
OXSQOxford Square Capital Corp13.2%0
PSECProspect Capital Corp13.2%0
SLRCSLR Investment Corp10.8%0
CHWWFChesswood Group Limited0.0% 
FNLIFFirst National Financial Corporation0.0% 
TBCRFTimbercreek Financial Corp0.0% 
Source: Suredividends as of April 3rd 2024

Energy

TickerNameDividend
Yield
Years of
Dividend
Increases
PRTPermRock Royalty Trust12.5%2
CRTCross Timbers Royalty Trust7.6%0
PBTPermian Basin Royalty Trust3.7%0
PVLPermianville Royalty Trust7.5%0
SBRSabine Royalty Trust7.7%0
SJTSan Juan Basin Royalty Trust6.7%0
FRHLFFreehold Royalties Ltd0.0%
HGTXUHugoton Royalty Trust0.0%
PEYUFPeyto Exploration & Development Corp.0.0%
PIFYFPine Cliff Energy Ltd0.0%
PRMRFParamount Resources Ltd.0.0%
SPGYFWhitecap Resources Inc0.0%
Source: Suredividends as of April 3rd 2024

Utilities

TickerNameDividend YieldYears of Dividend Increases
GWRSGlobal Water Resources Inc2.4%9
NPIFFNorthland Power Inc.0.0% 
TRSWFTransAlta Renewables Inc0.0% 
Source: Suredividends as of April 3rd 2024

cibc investors' edge

Healthcare

TickerNameDividend YieldYears of
Dividend
Increases
LWSCFSienna Senior Living Inc7.1%0
EXETFExtendicare Inc0.0% 
Source: Suredividends as of April 3rd 2024

Industrial

TickerNameSectorYears of
Dividend
Increases
EIFZFExchange Income CorpIndustrials2
SISXFSavaria Corp.Industrials 
Source: Suredividends as of April 3rd 2024

Monthly dividend payers with a track record of paying and increasing their dividends

TickerNameSectorPriceDividend YieldYears of Dividend Increases
ORealty Income Corp.Real Estate$52.875.8%26
STAGSTAG Industrial IncReal Estate$37.244.0%13
ADCAgree Realty Corp.Real Estate$56.845.3%11
GWRSGlobal Water Resources IncUtilities$12.522.4%9
LANDGladstone Land CorpReal Estate$13.084.3%9
MAINMain Street Capital CorporationFinancial Services$47.016.1%9