Don't Miss These 12 Dividend Stocks That Pay Monthly Dividends

Most dividend stocks made payments to shareholders on a quarterly basis. But not all companies pay quarterly dividends. In rarer cases, companies may pay dividends to shareholders annually or semi-annually. There is an even more appealing group known as monthly dividend stocks.

These are stocks that pay dividends once a month, equating to 12 dividend payments per year. Monthly dividend stocks are more attractive than quarterly, semi-annually or annual dividend payers because investors receive more frequent dividends.

Monthly Dividend Stocks

For investors who want their dividend income to pay for monthly expenses, monthly dividend stocks are quite appealing. The following 12 monthly dividend stocks make 12 dividend payments each year.

1. Realty Income (O)

Realty Income is a retail-focused, blue-chip REIT that owns more than 6,500 properties. Realty Income owns retail properties that are not part of a wider retail development (such as a mall), but instead are standalone properties. This means that the properties are viable for many different tenants, including government services, healthcare services, and entertainment.

Realty Income is arguably the most well-known (and best) monthly dividend stock. In fact, the company has trademarked itself as The Monthly Dividend Company to cement this reputation.

Realty Income has declared over 600 consecutive monthly dividend payments without interruption and has increased its dividend over 100 times since its initial public offering in 1994. Realty Income is a member of the Dividend Aristocrats list.

The company has generated steady growth for decades. According to Realty Income, it has grown its earnings-per-share in 24 out of the past 25 years. Shares have a current dividend yield of 4.1%.

2. Main Street Capital (MAIN)

Main Street Capital is a Business Development Company or BDC. The company operates as a debt and equity investor for lower middle market companies (those with $10-$150 million of annual revenues) seeking to transform their capital structures. The BDC has the capability to invest in both debt and equity.

Main Street Capital Corporation also invests in the private debt of middle-market companies and has an asset management advisory business.

Main Street has a 6% dividend yield. The company has never reduced its monthly dividend payout since its 2007 IPO and has raised the dividend by over 80% since it went public. Main Street has paid cumulative dividends exceeding $31 per share since its IPO.

3. SL Green Realty (SLG)

SL Green is Manhattan’s largest office landlord, and currently owns 96 buildings totaling 41 million square feet. Office real estate is extremely challenged, as the coronavirus pandemic has forced many people to work at home. SL Green’s performance has improved in recent quarters.

In the 2021 first quarter, SL Green’s same-store net operating income decreased 1.4% year-over-year, but its occupancy rate improved from 93.4% at the end of the previous quarter to 94.2%. Its funds from operations (FFO) per share declined 17%. 

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This article originally appeared on The Financially Independent Millennial and was republished with permission ...

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