5 Monthly Dividend Stocks to Buy in April

In this article, we discuss 5 monthly dividend stocks to buy in April. If you want to check out some more stocks that pay monthly dividends, click 10 Monthly Dividend Stocks to Buy in April.

5. Peyto Exploration & Development Corp. (OTC:PEYUF)

Dividend Yield as of April 6: 4.39%

Number of Hedge Fund Holders: N/A

Peyto Exploration & Development Corp. (OTC:PEYUF) was founded in 1998 and is headquartered in Calgary, Canada. The company deals in the exploration and production of oil, natural gas, and natural gas liquids in the Deep Basin of Alberta. 

On February 16, Peyto Exploration & Development Corp. (OTC:PEYUF) declared a C$0.05 per share monthly dividend, in line with previous. The dividend was distributed on March 15, to shareholders of the company as of February 28. Peyto Exploration & Development Corp. (OTC:PEYUF)’s dividend yield on April 6 came in at 4.39%. 

Stifel analyst Robert Fitzmartyn on March 11 reiterated a Buy recommendation on Peyto Exploration & Development Corp. (OTC:PEYUF) and raised the firm’s price target on the shares to C$17 from C$16.50.

In the Q4 earnings press release on March 10, Peyto Exploration & Development Corp. (OTC:PEYUF) reported Q4 GAAP earnings per share of $0.42. The fourth quarter FFO of $166 million, or $0.96 per diluted share, was up 119% year-over-year. Revenue for the period also increased approximately 89% from the prior-year quarter, reaching $236.36 million. For its 2022 guidance, the company disclosed plans for its capital program of $350 to $400 million, which includes operating 5 drilling rigs throughout the year and expanding its infrastructure assets to facilitate higher production.