15 Great Stocks That Pay Monthly Dividends

Dividend-paying stocks are generally regarded as less volatile in down markets than equities that don't pay dividends, plus the income they provide can help blunt the effects of inflation on your portfolio.

Most of the 3,000 or so publicly traded companies that do pay dividends do so quarterly, but several dozen pay monthly, making them a nice choice for passive income. Here are 15 strong performers to consider from that list.

5 Stocks Under $49
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Agree Realty (NYSE: ADC) is a real estate investment trust (REIT) that's been actively providing passive income to investors since going public in 1994. This owner of more than 1,400 retail properties across the country just raised its monthly dividend to $0.23 a share, good for a yield of about 3.97% at a share price of about $67.92.

ALSO READ: 3 REITs Under $100 You Can Buy and Hold Forever

AGNC Investment (NASDAQ: AGNC) is a mortgage REIT, making its money from buying and selling residential mortgage-backed securities primarily from Fannie Mae, Freddie Mac, and Ginnie Mae (i.e., the agencies). AGNC is currently yielding about 12.55% based on a share price of about $10.98 and a yield of $0.12 that’s been unchanged since April 2020.

Gladstone Commercial (NASDAQ: GOOD) stock is yielding about 6.86% at a share price of about $21.04. This REIT is an owner of industrial and office buildings across the country with a record of 189 consecutive monthly dividends. That includes raising the payout for three straight years, to currently about $0.13 per share per month.

ALSO READ: 3 REITS That Prove Slow and Steady Wins the Race

Gladstone Capital (NASDAQ: GLAD) is under the same corporate ownership as Gladstone Commercial and operates as a business development company, specializing in multiple avenues of providing capital to lower middle-market firms. Its stock is trading at about $11.65, good for a yield of about 6.8% from a monthly dividend of nearly $0.07 a share.

Ellington Financial (NYSE: EFC) invests in multiple financial assets, including consumer, residential, and commercial loans and mortgage-backed securities. This mortgage REIT is currently paying $0.15 per share per month. A share price of about $16.19 puts Ellington's yield at about 11.08%.

5 Stocks Under $49
Presented by Motley Fool Stock Advisor
We hear it over and over from investors, "I wish I had bought Amazon or Netflix when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" It's true, but we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Click here to learn how you can grab a copy of "5 Growth Stocks Under $49" for FREE for a limited time only.

Broadmark Realty (NYSE: BRMK) offers another flavor of mortgage REIT investing. Broadmark focuses on short-term loans to developers and builders of residential and commercial properties. The monthly dividend of $0.07 produces a yield of about 10.47% at a current price of about $7.81 per share.

ALSO READ: Investing in Mortgage REITs

LTC Properties (NYSE: LTC) is a healthcare REIT with investments in about 180 properties evenly split between senior housing and skilled nursing in 27 states. LTC stock is yielding about 6.75% at a share price of around $33 and has been paying a monthly dividend of $0.19 since October 2016.

SL Green Realty (NYSE: SLG) is Manhattan’s largest office landlord, with a portfolio of 88 buildings in and around New York City. This REIT has raised its payout by nearly 22% in the past three years and began paying monthly in March 2020. The yield is now about 5.39% from a stock price of around $69.22 and a monthly dividend of $0.31.

ALSO READ: This Office REIT Is Betting Big on Manhattan's Recovery

Realty Income (NYSE: O) calls itself “The Monthly Dividend Company.” This retail REIT has done just that for 621 straight months and has raised the dividend annually for more than 25 years as it grew its holdings to more than 11,000 properties in all 50 states, Puerto Rico, Spain, and the United Kingdom. Realty Income is currently paying about $0.25 per month, giving it a 4.08% yield at a share price of about $69.36.

Shaw Communications (NYSE: SJR) is not a REIT. It’s a provider of telephone, internet, television, and mobile services in the Canadian provinces of Alberta and British Columbia and satellite television across that country. Shaw stock pays around $0.08 monthly, yielding about 3.19% while selling for approximately $29.78 per share.

5 Stocks Under $49
Presented by Motley Fool Stock Advisor
We hear it over and over from investors, "I wish I had bought Amazon or Netflix when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" It's true, but we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Click here to learn how you can grab a copy of "5 Growth Stocks Under $49" for FREE for a limited time only.

STAG Industrial (NYSE: STAG) went public in 2011. This industrial REIT now owns about 544 buildings in 44 states and is taking advantage of the intense demand for warehouse and logistics properties. STAG has raised its dividend for four straight years, including by nearly 11% in the past three, and is yielding about 3.61% at a share price of around $37.32 and a monthly payout of $0.12.

ALSO READ: 3 Best Industrial REITs to Buy Now

Permian Basin Royalty Trust (NYSE: PBT) has been an owner of interests in Texas oil and gas properties since 1980. This stock is currently yielding about 2.83% at a share price of $13.12. The monthly dividend changes frequently. It was around $0.03 in April after rising from almost $0.02 in March.

Dynex Capital (NYSE: DX) invests in agency and nonagency residential- and commercial-backed mortgage securities. This mortgage REIT has been paying a monthly dividend of $0.13 per share since June 2020. That provides investors with a current yield of about 9.79% based on a share price of about $16.23.

ARMOUR Residential REIT (NYSE: ARR) is another mortgage REIT with an inflation-beating yield, in this case, a peer-busting 16% at a share price of about $7.34. Mortgage REITs can be notoriously volatile in times of rising interest rates. This REIT has been paying the same $0.10 per share per month since June 2020 and has seen its yield rise while its share price sagged.

Let's finish this list with a mutual fund. BlackRock Income Trust (NYSE: BKT) is a close-ended, fixed-income mutual fund managed by the gigantic BlackRock Advisors. Launched in 1988, this fund generates its income from agency and other mortgage-backed securities and U.S. Treasury obligations. It's currently paying $0.03 per month per share, good for a yield of about 8.64% at a share price of around $4.80.

5 Stocks Under $49
Presented by Motley Fool Stock Advisor
We hear it over and over from investors, "I wish I had bought Amazon or Netflix when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" It's true, but we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Click here to learn how you can grab a copy of "5 Growth Stocks Under $49" for FREE for a limited time only.

This diverse list of monthly dividend payers should give you some great options to consider for stock purchases that will provide inflation-fighting income now and good prospects for share price growth when the good times return.

Marc Rapport has positions in Agree Realty and Gladstone Commercial. The Motley Fool has positions in and recommends Stag Industrial. The Motley Fool has a disclosure policy.