10 Highest-Paying Monthly Dividend Stocks

In this article, we discuss 10 highest-paying monthly dividend stocks. If you want to read our detailed analysis of dividend stocks and their returns in the past, go directly to read 25 Highest-Paying Monthly Dividend Stocks. 

10. Horizon Technology Finance Corporation (NASDAQ:HRZN)

Dividend Yield as of November 23: 10.05%

Horizon Technology Finance Corporation (NASDAQ:HRZN) is an American specialty finance company that specializes in structural debt products for life sciences and tech companies. Janne Montgomery initiated its coverage on the stock in October with a Neutral rating, appreciating the company’s strong brand and greater venture debt space.

On November 3, Horizon Technology Finance Corporation (NASDAQ:HRZN) announced a monthly dividend of $0.11 per share, having raised it by 10%. This was the first time the company raised its payout since 2016. However, it has been making consistent dividend payments to shareholders for the past 10 years, which makes it one of the best highest-paying monthly dividend stocks. The stock’s dividend yield on November 23 came in at 10.05%.

In Q3 2022, Horizon Technology Finance Corporation (NASDAQ:HRZN) reported a total investment income of $23.2 million, which saw a 39.5% growth from the same period last year. The company had $31.6 million available in cash. Its total investment portfolio for the quarter is worth over $634.6 million.

As of the close of Q3 2022, 5 hedge funds tracked by Insider Monkey owned stakes in Horizon Technology Finance Corporation (NASDAQ:HRZN), the same as in the previous quarter. These stakes are worth over $6 million collectively.

9. SLR Investment Corp. (NASDAQ:SLRC)

Dividend Yield as of November 23: 11.43%

SLR Investment Corp. (NASDAQ:SLRC) is a yield-oriented business development company that invests in senior secured loans of private middle market companies. The company currently pays a monthly dividend of $0.1367 per share for a dividend yield of 11.43%, as recorded on November 23.

In November, Compass Point upgraded SLR Investment Corp. (NASDAQ:SLRC) to Buy with a $15.75 price target. The firm appreciated the company’s diversified institutional-quality platform and shareholder-friendly fee structure.

In the third quarter of 2022, SLR Investment Corp. (NASDAQ:SLRC) reported a total investment income of $47.5 million, which showed a 47.9% growth from the prior-year period. The company ended the quarter with nearly $267 million available in cash and cash equivalents.

As of the end of the September quarter, 8 hedge funds tracked by Insider Monkey presented a bullish stance on SLR Investment Corp. (NASDAQ:SLRC), up from 7 in the previous quarter. The stakes owned by these hedge funds have a total value of over $11 million. Two Sigma Advisors owned the largest stake in the company in Q3.

8. Dynex Capital, Inc. (NYSE:DX)

Dividend Yield as of November 23: 12.09%

Dynex Capital, Inc. (NYSE:DX) is a Virginia-based real estate investment trust company that mainly invests in mortgage loans and securities on a leveraged basis. In October, BTIG maintained a Buy rating on the stock with a $13 price target, appreciating the company’s performance in the current market turmoil.

Dynex Capital, Inc. (NYSE:DX) currently offers a monthly dividend of $0.13 per share. The company hasn’t raised its dividends since the pandemic of 2020, however, it maintained regular payments throughout these years. As of November 23, the stock has a dividend yield of 12.09%.

In Q3 2022, Dynex Capital, Inc. (NYSE:DX) posted an EPS of $0.24 and a net interest income of $7.12 million. It reported over $260.3 million in cash and cash equivalents at the end of September and its total assets amounted to over $4 billion.

At the end of Q3 2022, 9 hedge funds tracked by Insider Monkey reported owning stakes in Dynex Capital, Inc. (NYSE:DX), holding a total value of over $27.8 million. Among these hedge funds, Balyasny Asset Management was the company’s leading stakeholder in Q3.

7. Ellington Financial Inc. (NYSE:EFC)

Dividend Yield as of November 23: 12.90%

Ellington Financial Inc. (NYSE:EFC) is an American real estate credit company that invests in a diverse array of financial assets. Maxim reiterated its Buy rating on the stock in October with a $15.50 price target, highlighting the company’s improving book value in the recent quarter.

Ellington Financial Inc. (NYSE:EFC) hiked its dividends twice last year and currently pays a monthly dividend of $0.15 per share. The company’s balance sheet and continuous dividend payments make it one of the best highest-paying monthly dividend stocks on our list. The stock’s dividend yield on November 23 came in at 12.90%.

In Q3 2022, Ellington Financial Inc. (NYSE:EFC) reported a net interest income of $36.5 million, and its adjustable distributable earnings came in at $26.5 million. It ended the quarter with $175.2 million in cash and cash equivalents, with roughly $400 million in other assets.

Ellington Financial Inc. (NYSE:EFC) was a part of 5 hedge fund portfolios in Q3 2022, compared with 4 in the previous quarter. The stakes owned by these hedge funds have a total value of $11.7 million.

6. Ellington Residential Mortgage REIT (NYSE:EARN)

Dividend Yield as of November 23: 13.24%

Ellington Residential Mortgage REIT (NYSE:EARN) is an American real estate investment trust company that engages in the acquisition and management of residential mortgage and real estate-related assets. In the past month, the stock delivered a 13.08% return to shareholders, as of the close of November 22.

In Q3 2022, Ellington Residential Mortgage REIT (NYSE:EARN) reported a total net interest income of $5.1 million, which showed a 5.7% growth from the same period last year. Its adjusted distributable earnings for the quarter came in at $3 million. The company currently pays a monthly dividend of $0.08 per share for a dividend yield of 13.24%, as of November 23.

In October, Piper Sandler maintained an Overweight rating on Ellington Residential Mortgage REIT (NYSE:EARN) with an $8 price target, highlighting the company’s growth across all sectors over the past years.

The number of hedge funds tracked by Insider Monkey owning stakes in Ellington Residential Mortgage REIT (NYSE:EARN) grew to 7 in Q3 2022, from 5 in the previous quarter. The collective value of these stakes is nearly $7 million. Renaissance Technologies owned the largest stake in the company, worth nearly $3 million.

5. Oxford Square Capital Corp. (NASDAQ:OXSQ)

Dividend Yield as of November 23: 14.02%

Oxford Square Capital Corp. (NASDAQ:OXSQ) is an investment management company that also operated as a business development organization. The company reported strong results in Q3 2022, posting a total investment income of $11.4 million, up 16.3% from the same period last year. It had over $14.3 million available in cash and cash equivalents at the end of September, compared with $9 million nine months ago.

On November 7, Oxford Square Capital Corp. (NASDAQ:OXSQ) declared a monthly dividend of $0.035 per share, which fell in line with its previous dividend. The stock has a dividend yield of 14.02%, as of November 23.

At the end of Q3 2022, 4 hedge funds tracked by Insider Monkey owned stakes in Oxford Square Capital Corp. (NASDAQ:OXSQ), growing from 2 in the previous quarter. The collective value of these stakes is over $1.6 million.

4. San Juan Basin Royalty Trust (NYSE:SJT)

Dividend Yield as of November 23: 14.49%

San Juan Basin Royalty Trust (NYSE:SJT) is an express trust that receives royalties from its overriding interests in oil and gas properties. The company currently offers a monthly dividend of $0.1719 per share and has a dividend yield of 14.49%, as of November 23.

At the end of September, San Juan Basin Royalty Trust (NYSE:SJT) reported total cash reserves worth $1 million. Its royalty income for the period came in at $21.3 million, up from $6.1 million during the same period last year.

As per Insider Monkey’s Q3 2022 database, 2 hedge funds owned stakes in San Juan Basin Royalty Trust (NYSE:SJT), the same as in the previous quarter. These stakes are worth $569,000 collectively.

3. AGNC Investment Corp. (NASDAQ:AGNC)

Dividend Yield as of November 23: 14.71%

AGNC Investment Corp. (NASDAQ:AGNC) is a Maryland-based real estate investment trust company that invests in residential mortgage-backed securities on a leveraged basis. Barclays upgraded the stock to Overweight in October, following the company’s recent quarterly earnings. The firm also mentioned that the company offers an attractive investment opportunity due to its stable book value.

In Q3 2022, AGNC Investment Corp. (NASDAQ:AGNC) reported a tangible book value of $9.08 per share. The company’s investment portfolio at the end of September stood at $61.5 billion. Since its IPO in 2008 through the third quarter of 2022, the company has cumulatively paid $11.8 billion in dividends, which makes it one of the best highest-paying monthly dividend stocks.

AGNC Investment Corp. (NASDAQ:AGNC) pays a monthly dividend of $0.12 per share and has a dividend yield of 14.71%, as of November 23.

AGNC Investment Corp. (NASDAQ:AGNC) saw a positive hedge fund sentiment in Q3 2022, as 28 funds tracked by Insider Monkey owned stakes in the company, up from 18 in the previous quarter. These stakes have a total value of over $157.7 million. With 4.2 million shares, Citadel Investment Group was one of the company’s leading stakeholders in Q3.

2. Orchid Island Capital, Inc. (NYSE:ORC)

Dividend Yield as of November 23: 17.79%

Orchid Island Capital, Inc. (NYSE:ORC) is a Florida-based specialty finance company that invests in residential mortgage-backed securities on a leveraged basis. The company currently pays a monthly dividend of $0.16 per share and has a dividend yield of 17.79%, as of November 23.

In the third quarter of 2022, Orchid Island Capital, Inc. (NYSE:ORC) reported a net interest income of $14.25 million and its per-share book value came in at $11.42. As of June, the company has repurchased 1.8 million shares of its common stock. It also reported roughly $220 million in cash and cash equivalents at the end of the quarter.

At the end of Q3 2022, 6 hedge funds tracked by Insider Monkey owned investments in Orchid Island Capital, Inc. (NYSE:ORC), compared with 5 in the previous quarter. These stakes have a total value of over $23.5 million.

1. ARMOUR Residential REIT, Inc. (NASDAQ:ARR)

Dividend Yield as of November 23: 20.80%

ARMOUR Residential REIT, Inc. (NASDAQ:ARR) is an American real estate investment trust company. In October, B. Riley maintained a Neutral rating on the stock with a $6 price target, presenting a positive stance on mortgage real estate investment trusts.

On November 22, ARMOUR Residential REIT, Inc. (NASDAQ:ARR) declared a monthly dividend of $0.10 per share, consistent with its previous dividend. The stock’s dividend yield on November 23 came in at 20.80%.

As of the close of Q3 2022, 8 hedge funds tracked by Insider Monkey owned stakes in ARMOUR Residential REIT, Inc. (NASDAQ:ARR), up from 5 in the previous quarter. The collective value of these stakes is over $23.8 million.

You can also take a look at 10 Monthly Dividend Stocks with High Yields and 10 Best Hydrogen Stocks To Buy Now

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