In this article, we discuss 5 cheap monthly dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and their previous performance, go directly to read 13 Cheap Monthly Dividend Stocks to Buy.
5. Ellington Financial Inc. (NYSE:EFC)
P/E Ratio (TTM): 11.66
Ellington Financial Inc. (NYSE:EFC) operates as a specialty finance company primarily engaged in investing in a diverse array of financial assets, including mortgage-related assets, consumer loans, and other structured financial products. On November 7, the company declared a monthly dividend of $0.15 per share, which was in line with its previous dividend. The company has a dividend yield of 13.91%, as of November 17.
At the end of Q2 2023, 6 hedge funds tracked by Insider Monkey reported having stakes in Ellington Financial Inc. (NYSE:EFC), up from 5 in the previous quarter. The consolidated value of these stakes is nearly $17 million.
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Follow Ellington Financial Inc. (NYSE:EFC)
4. Sabine Royalty Trust (NYSE:SBR)
P/E Ratio (TTM): 9.76
Sabine Royalty Trust (NYSE:SBR) is a publicly traded royalty trust that derives income from its ownership interests in oil, gas, and mineral properties. The trust’s primary objective is to collect royalty income from producing properties and distribute it to its shareholders. The company offers a monthly dividend of $0.7208 per share and has a dividend yield of 1.046%, as recorded on November 17.
As of the end of Q2 2023, 7 hedge funds tracked by Insider Monkey owned stakes in Sabine Royalty Trust (NYSE:SBR), up from 6 in the previous quarter. The collective value of these stakes is over $10.6 million.
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Follow Sabine Royalty Tr (NYSE:SBR)
3. Gladstone Capital Corporation (NYSE:GLAD)
P/E Ratio (TTM): 8.83
Gladstone Capital Corporation (NYSE:GLAD) is an American business development company that specializes in providing debt and equity financing to lower middle-market companies. The company’s monthly dividend currently comes in at $0.0825 per share and has a dividend yield of 9.83%, as of November 17.
According to Insider Monkey’s database of Q2 2023, 5 hedge funds owned stakes in Gladstone Capital Corporation (NYSE:GLAD), the same as in the previous quarter. These stakes are collectively valued at roughly $11 million. Among these hedge funds, Millennium Management was the company’s leading stakeholder in Q2.
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Follow Gladstone Capital Corp (NASDAQ:GLAD)
2. Main Street Capital Corporation (NYSE:MAIN)
P/E Ratio (TTM): 8.16
An American business development company, Main Street Capital Corporation (NYSE:MAIN) has been growing its dividends for three consecutive months. It currently offers a monthly dividend of $0.24 per share and has a dividend yield of 6.95%, as of November 17.
The number of hedge funds tracked by Insider Monkey owning stakes in Main Street Capital Corporation (NYSE:MAIN) jumped to 12 in Q2 2023, from 9 in the previous quarter. The collective value of these stakes is more than $51.3 million. Citadel Investment Group was one of the company’s leading stakeholders at the end of the second quarter.
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Follow Main Street Capital Corp (NYSE:MAIN)
1. Fortitude Gold Corporation (NYSE:FTCO)
P/E Ratio (TTM): 7.52
Fortitude Gold Corporation (NYSE:FTCO) tops our list of the best dividend stocks with monthly payouts. The Colorado-based company specializes in the production of gold. The company offers a monthly dividend of $0.04 per share and has a dividend yield of 7.88%, as of November 17.
You can also take a look at 10 Best Alternative Meat Stocks to Buy and 11 Best High-Dividend Stocks to Buy Now
