5 High Growth Monthly Dividend Stocks to Buy

4. ARMOUR Residential REIT, Inc. (NYSE:ARR)

YoY Revenue Growth for the Most Recent Reported Quarter: 259%

Monthly Dividend per Share: 8 cents

ARMOUR Residential REIT, Inc. (NYSE:ARR) is a Vero Beach, Florida-based publicly listed REIT founded in 2008 that primarily invests in agency and non-agency-based residential mortgage-backed securities (RMBS). Agency-based RMBS are issued and guaranteed by government-sponsored Fannie Mae, Freddie Mac, or Ginnie Mae. Meanwhile, Non-agency RMBS are securities backed by mortgages that are not guaranteed by any government agency.

ARMOUR Residential REIT, Inc.’s (NYSE:ARR) dividend yield stands at 17.94% as of February 28. In Q4 2022, the company reported a net interest income of $11.6 million and a net interest margin of 2.59%, which increased by 38 basis points compared to the previous quarter. The company uses leverage to enhance returns on its portfolio and engages in interest rate hedging activities to manage interest rate risk. You can read ARMOUR Residential REIT, Inc.’s (NYSE:ARR) earnings call transcript for Q4 2022 here.