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12 Cheap Monthly Dividend Stocks To Buy

In this article, we discuss 12 cheap monthly dividend stocks to buy now. You can skip our detailed analysis of dividend stocks and their performance over the years, and go directly to read 5 Cheap Monthly Dividend Stocks To Buy

The fluctuating market conditions have altered investor sentiment, bringing income-generating stocks to the limelight. Moreover, with economists pointing toward the probability of a recession this year, investors are preferring monthly or quarterly dividend stocks to generate stable regular income.

Dividend stocks tend to perform well during periods of slow economic growth. According to a recent report by Franklin Templeton, stocks with strong dividend growth track records are at their best during inflationary periods. The firm is also positive on dividend growth because many companies have the tendency to raise their payouts this year despite slow earnings growth. Another report published by BMO Capital revealed that dividend stocks delivered an annual average return of 7.8% from January 1998 to January 2013, compared to 2.4% return recorded for non-dividend companies in the same period. During this period, the S&P/TSX returned 4.3%, showing the dominance of dividend stocks over other asset classes.

As companies in the S&P 500 distributed a record amount in dividends in 2022, analysts expect the pattern to continue this year as well. Howard Silverblatt, a senior index analyst at S&P Dow Jones Indices, mentioned in his recent Wall Street Journal interview that dividends are expected to notch another record this year as investors are gravitating toward dividend-paying equities. He further mentioned that corporate balance sheets are stable despite elevated interest rates and higher inflation.

Quality companies like Merck & Co., Inc. (NYSE:MRK), AbbVie Inc. (NYSE:ABBV), and Chevron Corporation (NYSE:CVX) are popular among investors as these companies have shown solid dividend growth over the years and have stable cash position. However, this article will focus on cheap monthly dividend stocks to buy now.

Photo by Nick Chong on Unsplash

Our Methodology:

The stocks mentioned below pay monthly dividends to shareholders and have share prices below $15, as of January 13. These stocks can be good investment options because of their dividend yields and strong dividend policies. The stocks are ranked in an ascending order of their share prices.

12. Banco Bradesco S.A. (NYSE:BBD)

Share Price as of January 13: $2.92

Banco Bradesco S.A. (NYSE:BBD) is a Brazilian financial services company that provides various financial and insurance-related services to its consumers. The company currently pays a monthly dividend of $0.0032 per share for a dividend yield of 2.90%, as of January 13.

In addition to popular dividend stocks like Merck & Co., Inc. (NYSE:MRK), AbbVie Inc. (NYSE:ABBV), and Chevron Corporation (NYSE:CVX), Banco Bradesco S.A. (NYSE:BBD) can be a good option for dividend portfolios due to its monthly payouts.

In November, JPMorgan upgraded Banco Bradesco S.A. (NYSE:BBD) to Overweight from Neutral with a R$21 price target, highlighting the company’s strong sales momentum in the current market.

In the third quarter of 2022, Banco Bradesco S.A. (NYSE:BBD) reported an operating income of R$7.05 billion. The company’s net interest income of R$16.2 billion showed a 3.7% growth from the same period last year. It is one of the best dividend stocks on our list as it returned R$7.4 billion to shareholders in dividends during the first nine months of the year. The stock’s current share price stands at $2.92, which places it as one of the cheap monthly dividend stocks on our list.

At the end of Q3 2022, 15 hedge funds tracked by Insider Monkey reported owning stakes in Banco Bradesco S.A. (NYSE:BBD), up from 14 in the previous quarter. The collective value of these stakes is over $176 million. Fisher Asset Management was the company’s leading stakeholder in Q3.

11. U.S. Global Investors, Inc. (NASDAQ:GROW)

Share Price as of January 13: $3.03

U.S. Global Investors, Inc. (NASDAQ:GROW) is a Texas-based investment management company that sells mutual funds. The company currently pays a monthly dividend of $0.0075 per share and has a dividend yield of 2.94%, as of January 13. The stock is currently trading at $3.03 per share and is one of the cheap monthly dividend stocks on our list.

In the third quarter of 2022, U.S. Global Investors, Inc. (NASDAQ:GROW) reported revenue of $4.4 million and its net working capital for the quarter came in at $34.6 million. During the quarter, it repurchased nearly 40,000 shares of its class A shares, up 192% from the same period last year. The company’s cash position makes it one of the best dividend stocks on our list.

At the end of Q3 2022, 5 hedge funds in Insider Monkey’s database owned stakes in U.S. Global Investors, Inc. (NASDAQ:GROW), up from 4 in the previous quarter. The collective value of these stakes is nearly $2 million. Royce & Associates was the company’s leading stakeholder in Q3.

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

Share Price as of January 13: $3.53

Oxford Square Capital Corp. (NASDAQ:OXSQ) is a Connecticut-based investment management corporation that also operates as a business development company. In the third quarter of 2022, the company reported a net investment income of $11.4 million, which showed a 16.3% growth from the prior-year period. It had $14.3 million in cash and cash equivalents at the end of September, compared with $9 million in December 2021.

Oxford Square Capital Corp. (NASDAQ:OXSQ) currently pays a quarterly dividend of $0.035 per share and has a dividend yield of 11.73%, as of January 13. The stock is currently trading at $3.53 per share.

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. Among these hedge funds, Two Sigma Advisors owned the largest stake in the company.

9. Generation Income Properties, Inc. (NASDAQ:GIPR)

Share Price as of January 13: $5.20

Generation Income Properties, Inc. (NASDAQ:GIPR) is an American real estate investment that invests in retail, office, and industrial properties. In Q3 2022, the company reported a core FFO of $326,000 or $0.14 per basic diluted share. It had $2.6 million available in cash and cash equivalents at the end of the quarter.

Generation Income Properties, Inc. (NASDAQ:GIPR) is among the cheap monthly dividend stocks as it has a share price of $5.20 as recorded on January 13.

Generation Income Properties, Inc. (NASDAQ:GIPR) started its dividend policy in January 2021 and currently pays a monthly dividend of $0.039 per share. The stock’s dividend yield on January 13 came in at 9.00%.

8. Fortitude Gold Corporation (OTC:FTCO)

Share Price as of January 13: $6.24

Fortitude Gold Corporation (OTC:FTCO) is a Colorado-based gold producer that targets projects with low operating costs and high margins. The company aims to grow organically and remain debt free while distributing substantial dividends to shareholders. Its strong commitment to shareholders makes it one of the best dividend stocks on our list.

Fortitude Gold Corporation (OTC:FTCO) has a dividend policy of returning cash to shareholders while balancing the capital needs of its operations. It currently pays a monthly dividend of $0.04 per share and has a yield of 7.68%, as of January 13.

In the third quarter of 2022, Fortitude Gold Corporation (OTC:FTCO) reported revenue of $16.1 million. At the end of September, the company had over $42.2 million available in cash and cash equivalents. It returned $3 million to shareholders in dividends during the quarter.

7. Prospect Capital Corporation (NASDAQ:PSEC)

Share Price as of January 13: $7.32

Prospect Capital Corporation (NASDAQ:PSEC) is a New York-based business development company that specializes in debt and equity investments across the US. The stock trades at $7.32 per share, becoming one of the cheap monthly dividend stocks to buy now.

On December 30, Prospect Capital Corporation (NASDAQ:PSEC) declared a monthly dividend of $0.06 per share, which fell in line with its previous dividend. The stock’s dividend yield on January 13 came in at 9.78%.

In fiscal Q1 2023, Prospect Capital Corporation (NASDAQ:PSEC) paid $1.4 billion to shareholders in dividends and share repurchases. The company’s total investment income for the quarter came in at $202.6 million, up 19.6% from the same period last year.

As of the close of Q3 2022, 5 hedge funds tracked by Insider Monkey owned stakes in Prospect Capital Corporation (NASDAQ:PSEC), compared with 7 in the previous quarter. The collective value of these stakes is over $10 million. Two Sigma Advisors owned the largest stake in the company in Q3.

6. Gladstone Capital Corporation (NASDAQ:GLAD)

Share Price as of January 13: $10.14

Gladstone Capital Corporation (NASDAQ:GLAD) is a Virginia-based business development company that provides financial services to lower-middle market companies. On January 13, the company declared a monthly dividend of $0.075 per share, up 7.1% from its previous dividend. The company has raised its dividends thrice after slashing its payouts during the pandemic in 2020. The stock’s dividend yield on January 13 came in at 8.89%.

Gladstone Capital Corporation (NASDAQ:GLAD) can be a good investment option for income investors alongside popular dividend stocks like Merck & Co., Inc. (NYSE:MRK), AbbVie Inc. (NYSE:ABBV), and Chevron Corporation (NYSE:CVX).

In fiscal Q4 2022, Gladstone Capital Corporation (NASDAQ:GLAD) posted a net investment income of $0.22, which beat estimates by $0.01. The company’s total investment income was recorded at nearly $16 million, up 11% from the same period last year. At the end of the quarter, it had over $250 million available in the credit facility.

As of the close of Q3 2022, 5 hedge funds tracked by Insider Monkey reported owning stakes in Gladstone Capital Corporation (NASDAQ:GLAD), down from 7 in the previous quarter. The collective value of these stakes is over $3.7 million.

Click to continue reading and see 5 Cheap Monthly Dividend Stocks To Buy

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Disclosure. None. 12 Cheap Monthly Dividend Stocks To Buy is originally published on Insider Monkey.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

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The “Toll Booth” Operator of the AI Energy Boom

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The Hedge Fund Secret That’s Starting to Leak Out

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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

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He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…