5 Best Monthly Dividend Stocks to Buy in October

4. Main Street Capital Corporation (NYSE:MAIN)

Dividend Yield as of October 5: 7.40%

Main Street Capital Corporation (NYSE:MAIN) is a Texas-based principal investment firm. The company is a strong dividend payer as it never slashed its payout ever since its first dividend in 2007. On August 2, the company announced a 2.31% hike in its monthly dividend to $0.22 per share. In addition to this, the company also declared a special dividend of $0.10 per share. The company has paid supplemental dividends for three years in a row. As of October 5, the stock’s dividend yield came in at 7.40%.

On August 4, Main Street Capital Corporation (NYSE:MAIN) reported its Q2 results, posting a total investment income of $85.2 million which showed a 26.6% year-over-year growth. The company had aggregate liquidity of $518.4 million while its cash and cash equivalents stood at $475 million at the end of June.

At the end of June 2022, 5 hedge funds tracked by Insider Monkey owned stakes in Main Street Capital Corporation (NYSE:MAIN), down from 9 in the previous quarter. The collective value of these stakes is over $19.3 million.