Archives February 2025

Updated on February 26th, 2025 by Bob Ciura
Spreadsheet data updated daily

Most companies distribute dividends on a quarterly or semi-annual payment schedule, but there are some that pay dividends monthly.

However, the number of companies that distribute monthly dividends is limited.

You can see all the monthly dividend stocks here.

You can also download our full Excel spreadsheet of all monthly dividend stocks (along with metrics that matter, like dividend yield and payout ratio) by clicking on the link below:

 

This article provides an overview of monthly dividend stocks, and includes a top 10 list of monthly dividend stocks that most income investors haven’t heard of.

Table of Contents

Monthly Dividend Stocks Overview

Monthly dividend payments are beneficial for one group of investors in particular; retirees who rely on dividend stocks for income.

With that said, monthly dividend stocks are better under all circumstances (everything else being equal), because they allow for returns to be compounded on a more frequent basis.

More frequent compounding results in better total returns, particularly over long periods of time.

Of course, there are also potential risk factors when investing in monthly dividend stocks.

Investors should note many monthly dividend stocks are highly speculative. On average, monthly dividend stocks tend to have elevated payout ratios.

An elevated payout ratio means there’s less margin for error to continue paying the dividend if business results suffer a temporary (or permanent) decline.

As a result, we have real concerns that many monthly dividend payers will not be able to continue paying rising dividends in the event of a recession.

The following 10 dividend stocks pay dividends each month, but have risk factors and unique business models that investors should carefully consider before buying.

The following list is comprised of 10 monthly dividend stocks with market caps below $3 billion, which means they are smaller companies than the more widely-followed monthly dividend stocks.

The list excludes extremely speculative monthly dividend stocks such as oil and gas royalty trusts. It also excludes mortgage REITs which are also high-risk securities.

The 10 monthly dividend stocks you’ve never heard of are sorted by dividend yield, from lowest to highest.

Monthly Dividend Stock You’ve Never Heard Of: Global Water Resources (GWRS)

Global Water Resources is a water resource management company. It owns, operates, and manages water, wastewater, and recycled water utilities in Phoenix, Arizona.

It owns 25 water and wastewater utilities in Phoenix and serves more than 74,000 people. It also recycles more than 1 billion gallons of water every year.

The company believes it has the capacity for hundreds of thousands of service connections, but its current scale is quite small.

Annual revenue is about $42 million, and the stock trades with a market capitalization of ~$300 million.

Source: Investor relations

On November 6th, 2024, Global Water reported its Q3 results for the period ending September 30th, 2024. Quarterly revenues fell by 1.5% year-over-year to $14.3 million.

The drop in revenue was mainly attributable to the recognition of $0.5 million in unregulated revenue related to infrastructure coordination and financing agreements (ICFAs) in the third quarter of 2023 that did not recur this time around.

Still, regulated revenue increased 2.2% to $14.3 million, primarily due to total active service connections rising 4.7% to 63,889.

Click here to download our most recent Sure Analysis report on GWRS (preview of page 1 of 3 shown below):

Monthly Dividend Stock You’ve Never Heard Of: Phillips Edison & Company (PECO)

Phillips Edison & Company is a real estate investment trust that is one of the nation’s largest owners and operators of omni-channel grocery-anchored shopping centers.

As of its latest quarterly filings, Phillips Edison & Company owned equity interests in 316 shopping centers, including 294 wholly-owned shopping centers and 22 shopping centers owned through three unconsolidated joint ventures, which comprised about 35.7 million square feet in 31 states.

In addition to managing its shopping centers, its third-party investment management business provides comprehensive real estate management services to its unconsolidated joint ventures and one private fund.

Phillips Edison & Company generates just over $660 million in annual revenues, pays dividends on a monthly basis, and is based in Cincinnati, Ohio.

On February 6th, 2025, Phillips Edison & Company released its Q4 and full-year results for the period ending December 31st, 2024. For the quarter, total revenues were $173.0 million, an increase of 12.1% year-over-year.

Same-center NOI grew by 6.5% to $110.4 million, while new and renewal leasing spreads stood at 30.2% and 20.8%, respectively. Leased portfolio occupancy remained strong at 97.7%.

Despite slightly higher interest and operating expenses, Nareit FFO for the quarter rose 12.0% to $83.8 million. Nareit FFO per share was $0.61, up from $0.56 last year. For the year, Nareit FFO came in at $2.37.

Click here to download our most recent Sure Analysis report on PECO (preview of page 1 of 3 shown below):

Monthly Dividend Stock You’ve Never Heard Of: STAG Industrial (STAG)

STAG Industrial is an owner and operator of industrial real estate. It is focused on single-tenant industrial properties and has ~560 buildings across 41 states in the United States.

The focus of this REIT on single-tenant properties might create higher risk compared to multi-tenant properties, as the former are either fully occupied or completely vacant.

Source: Investor Presentation

However, STAG Industrial executes a deep quantitative and qualitative analysis on its tenants. As a result, it has incurred credit losses that have been less than 0.1% of its revenues since its IPO.

In mid-February, STAG Industrial reported (2/12/25) financial results for the fourth quarter of fiscal 2024. Core FFO-per-share grew 5% over the prior year’s quarter, from $0.58 to $0.61, exceeding the analysts’ consensus by $0.01, thanks to hikes in rent rates.

Net operating income grew 9% over the prior year’s quarter even though the occupancy rate dipped sequentially from 97.1% to 96.5%. On the other hand, interest expense increased 25% year-on-year due to high interest rates.

STAG expects core FFO per share of $2.46-$2.50 for 2025.

Click here to download our most recent Sure Analysis report on STAG Industrial Inc. (STAG) (preview of page 1 of 3 shown below):

Monthly Dividend Stock You’ve Never Heard Of: EPR Properties (EPR)

EPR Properties is a specialty real estate investment trust, or REIT, that invests in properties in specific market segments that require industry knowledge to operate effectively.

It selects properties it believes have strong return potential in Entertainment, Recreation, and Education. The portfolio includes about $7 billion in investments across 350+ locations in 44 states, including over 200 tenants.

Source: Investor Presentation

EPR posted third quarter earnings on October 30th, 2024, and results were better than expected on both the top and bottom lines. Funds-from-operations came to $1.29, which was two cents ahead of estimates. FFO was down from $1.47 per share a year ago. On a dollar basis, FFO fell from $113 million to just over $100 million.

Revenue was off almost 5% year-over-year to $180.5 million, which was $21.5 million ahead of expectations. For the nine months, revenue was off from $534 million to $521 million.

Click here to download our most recent Sure Analysis report on EPR (preview of page 1 of 3 shown below):

Monthly Dividend Stock You’ve Never Heard Of: LTC Properties (LTC)

LTC Properties is a REIT that invests in senior housing and skilled nursing properties. Its portfolio consists of approximately 50% senior housing and 50% skilled nursing properties.

Just like other healthcare REITs, LTC benefits from a strong secular trend, namely the high growth of the population that is above 80 years old. This growth results from the aging of the baby boomers’ generation and the steady rise of life expectancy thanks to sustained progress in medical sciences.

The REIT owns 194 investments in 26 states, with 31 operating partners.

Source: Investor Presentation

In late October, LTC reported (10/29/24) financial results for the third quarter of fiscal 2024. Funds from operations (FFO) per share grew 5% over the prior year’s quarter, from $0.65 to $0.68, but missed the analysts’ consensus by $0.01.

The increase in FFO per share resulted primarily from higher income from previously transitioned properties and higher income from loan originations. LTC drastically improved its leverage ratio (Net Debt to EBITDA) from 5.3x to 4.2x thanks to various asset sales.

Click here to download our most recent Sure Analysis report on LTC (preview of page 1 of 3 shown below):

Monthly Dividend Stock You’ve Never Heard Of: Gladstone Land Corp. (LAND)

Gladstone Land Corporation is a real estate investment trust, or REIT, that specializes in the owning and operating of farmland in the U.S.

The trust owns about 160 farms, comprising more than 110,000 acres of farmable land. Gladstone’s business is made up of three different options available to farmers, all of which are done on a triple-net basis.

The trust offers long-term sale leaseback transactions, traditional leases of farmland, and outright purchases of farm properties.

Gladstone posted fourth quarter and full-year earnings on February 19th, 2025, and results were somewhat weak. Funds-from-operations per-share came to just nine cents, widely missing estimates for 14 cents.

Revenue fell 14% year-over-year to $21.1 million, but did beat estimates by about $650k.

Total cash lease revenues fell, driven by lower fixed base cash rents, which was partially offset by additional participation rents recorded during the quarter.

Fixed base cash rents fell by about $4.9 million, which was due to the execution of certain lease agreements in 2024 where rent amounts were reduced.

In addition, a large farm in Florida was sold during the first quarter of 2024. Participation rents were driven higher by stronger production yields in almond and pistachio farms.

Click here to download our most recent Sure Analysis report on LAND (preview of page 1 of 3 shown below):

Monthly Dividend Stock You’ve Never Heard Of: Modiv Industrial REIT (MDV)

Modiv Industrial acquires, owns, and actively manages single-tenant net-lease industrial, retail, and office properties in the United States, focusing on strategically essential and mission-critical properties with predominantly investment-grade tenants.

As of its most recent filings, the company’s portfolio comprised 44 properties that occupied 4.6 million square feet of aggregate leasable area.

Modiv has nearly 43 properties in its portfolio that occupy 4.5 million square feet of aggregate leasable area.

Modiv reported its Q3 results for the period ending September 30th, 2024. For the quarter, rental income came in at $11.6 million, down 7.3% year-over-year.

This was mainly due to the elimination of some non-NNN tenant reimbursements related to the August 2023 portfolio disposition of 13 properties.

Management fee income was stable at nearly $66 million. Total income reached nearly $11.7 million, down 7.2% from $12.6 million last year.

AFFO was $3.7 million, or $0.34 per diluted share, in line with AFFO of $3.7 million, or $0.33 per diluted share, in the prior year period.

Click here to download our most recent Sure Analysis report on MDV (preview of page 1 of 3 shown below):

 

Monthly Dividend Stock You’ve Never Heard Of: Gladstone Investment Corp. (GAIN)

Gladstone Investment is a business development company (BDC) that focuses on US-based small- and medium-sized companies.

Industries which Gladstone Investment targets include aerospace & defense, oil & gas, machinery, electronics, and media & communications.

A rundown of GAIN’s investment process can be seen in the image below:

Source: Investor Presentation

Gladstone Investment reported its second quarter (Q2 2024 ended September 30) earnings results on November 7. The company generated total investment income of $22.6 million during the quarter, which represents an increase of 2% compared to the prior quarter.

This was a better performance compared to the previous quarter, when the growth rate was negative.

Gladstone Investment’s adjusted net investment income-per-share totaled $0.24 during the fiscal second quarter. That was unchanged from the previous quarter’s level.

Gladstone Investment‘s net asset value per share totaled $12.49 on a per-share basis at the end of the quarter.

Click here to download our most recent Sure Analysis report on GAIN (preview of page 1 of 3 shown below):

Monthly Dividend Stock You’ve Never Heard Of: Gladstone Capital Corp. (GLAD)

Gladstone Capital is a business development company, or BDC, that primarily invests in small and medium businesses. These investments are made via a variety of equity (10% of portfolio) and debt instruments (90% of portfolio), generally with very high yields.

Loan size is typically in the $7 million to $30 million range and has terms up to seven years.

Source: Investor Presentation

Gladstone posted fourth quarter and full-year earnings on November 13th, 2024, and results were short of analyst estimates. Net investment income, which is akin to earnings, came to 50 cents per share.

NII was expected to be 53 cents, and was down from 57 cents in the prior quarter. Total investment income, which is a revenue measure, came to $23.7 million, down from $25.7 million in the previous quarter.

Total repayments and net proceeds were $12.6 million, down from $86.4 million in the prior quarter. Total investments at fair value rose 5.1% quarter-over-quarter to $796 million. Net asset value per common share was $21.18 in September, up from $20.18 in June.

Click here to download our most recent Sure Analysis report on GLAD (preview of page 1 of 3 shown below):

Monthly Dividend Stock You’ve Never Heard Of: Horizon Technology Finance (HRZN)

Horizon Technology Finance Corp. is a BDC that provides venture capital to small and medium–sized companies in the technology, life sciences, and healthcare–IT sectors.

The company has generated attractive risk–adjusted returns through directly originated senior secured loans and additional capital appreciation through warrants.

Source: Investor Presentation

On October 29th, 2024, Horizon released its Q3 results for the period ending September 30th, 2024. For the quarter, total investment income fell 15.5% year-over-year to $24.6.7 million, primarily due to lower interest income on investments from the debt investment portfolio.

More specifically, the company’s dollar-weighted annualized yield on average debt investments in Q3 of 2024 and Q3 of 2023 was 15.9% and 17.1%, respectively.

Net investment income per share (IIS) fell to $0.32, down from $0.53 compared to Q3-2023. Net asset value (NAV) per share landed at $9.06, down from $9.12 sequentially.

After paying its monthly distributions, Horizon’s undistributed spillover income as of June 30th, 2024 was $1.27 per share, indicating a considerable cash cushion.

Click here to download our most recent Sure Analysis report on HRZN (preview of page 1 of 3 shown below):

Additional Reading

Monthly dividend stocks may be more attractive for income investors due to their frequent payouts.

Additionally, many monthly dividend payers offer investors high yields. The combination of a monthly dividend payment and a high yield could be especially appealing.

We have compiled a reading list for additional dividend growth stock investing ideas:

New silver collectors’ type to be issued soon:

“950th anniversary of the founding of the Benedictine abbey in Hronské Beňadik“

TECHNICAL DATA
Composition: silver .900
Diameter: 34.00 mm
Weight: 18.00 g
Artist: Tomáš Lamač
Mint: Mincovňa Kremnica (Slovakia)



LINK: Mincovňa Kremnica

The executive order to create America’s first sovereign wealth fund has sparked debate over its governance, transparency, and potential impact on global markets.

US President Donald Trump announced last week the creation of the first American sovereign wealth fund. He had pledged during his campaign to pursue such a policy, but this time, he formalized it with an executive order directing a plan for the fund to be developed within 90 days.

The news about the emerging US Sovereign Wealth Fund should not surprise those who follow trends in sovereign finance. Various developed countries, such as the United Kingdom and France, have explored or executed the idea of a new sovereign fund—despite fiscal challenges—to promote industrial policies, protect national champions from foreign takeovers, or advancing technology-advanced but vulnerable sectors.

The US government’s initiative is also driven by the recognition that federal assets are underutilized, creating an opportunity to “monetize the asset side of the US balance sheet for the American people,” according to the US Treasury Secretary Scott Bessent.

“America is locked out of the US dynamic capital markets and returns because we are not a player,” argues Chris Campbell, former assistant secretary of the US Treasury for Financial Institutions during Trump’s first term, “and the burden is on the taxpayer to fund the government.”

The Trump Administration has not provided specifics on the fund’s risk profile, asset allocation, governance structure, transparency, or reporting requirements—key factors that typically define a sovereign wealth fund. The news immediately raised skepticism among financial commentators, some of whom view the new initiative as a way to allocate part of the Treasury’s general budget to a discretionary fund controlled by a select group of insiders. Similar structures have, in other countries, led to corruption and inefficient investments—as seen in Malaysia and Libya. Whether the details of the new fund will support these concerns remains to be seen.

In any case, Congress must approve the fund’s creation—an uphill battle, given longstanding resistance to privatizing federal assets and services, according to Campbell.

While certain US states have their own sovereign wealth funds—such as the Alaska Permanent Fund, which is financed by the state’s income from natural resources—the United States lacks a national fund at the federal level. Establishing such a fund could position the US as a major player in the international sovereign wealth community—an intriguing shift at a time when Trump’s ‘America First’ agenda has led the country to withdraw from many global organizations and forums.

One such forum is the International Forum on Sovereign Wealth Funds (IFSWF), which operates under the International Monetary Fund umbrella. According to its mandate, the IFSWF aims to strengthen the sovereign wealth fund community through dialogue, research, and self-assessment. This unique forum brings together funds from different countries, both developing and developed economies, with distinctively different transparency and asset-allocation strategies. Yet, considering the new commercial focus of the US Administration, US participation through state and federal funds can support global markets and promote US leadership. A fund’s affiliation with the Federal Reserve will strengthen US participation in such a forum.

In fact, the announcement alone has already triggered broader debate about how the United States can leverage its resources and financial infrastructure for strategic investments—both domestically and internationally. The discussion could help cultivate the investment expertise within the US government, develop a pipeline of institutional investing talent, and position commercial investments as tools for national security and diplomacy.

Lenders across Europe are ramping up M&A efforts to scale operations, strengthen balance sheets, and navigate an evolving financial landscape.

The European banking sector is experiencing a wave of consolidation as institutions seek to bolster their market position, expand their asset base, and improve returns. With interest rates stabilizing and capital reserves at healthy levels, banks are taking advantage of strategic acquisitions to fuel growth and enhance profitability.

UBS completed its landmark acquisition of Credit Suisse in July, marking one of the most significant deals in the sector. In the UK, Nationwide finalized its purchase of Virgin Money, while in December, Italy’s UniCredit increased its stake to 28% of Commerzbank, Germany’s second-largest lender. Dutch lender ING has also signaled its intent to acquire rival banks in major European markets.

Higher interest rates and improved capital buffers have strengthened European banks’ ability to pursue acquisitions. As rates begin to ease, M&A activity could gain further momentum, with banks looking to scale up and boost profitability in an increasingly competitive environment.

“There are a number of possible explanations for the run of European banking deals,” says Russ Mould, investment director at AJ Bell. “They include a drive for further consolidation to boost margins and returns on equity—especially within the EU, where the banking system remains highly fragmented. Strong balance sheets that easily meet regulatory requirements allow room for M&As, even after the distribution of increasingly generous dividends and buyback programs.”

Ultimately the key issue is valuation. The price, or valuation, paid for an asset is the definitive arbiter of investment return and the buyers clearly feel they were able to pay prices that gave them downside protection, and yet leave them with upside potential.

Despite the surge in M&A activity in the European banking sector, challenging the largest banks in the US and China may take some time, as they outpace European competitors in domestic activity, cross-border lending and digitalization. 

According to S&P Global Market Intelligence, in 2024, the bank with the most assets in the world was the Industrial and Commercial Bank of China, totaling $6.3 trillion. It was followed by the Agricultural Bank of China, which has amassed $5.6 trillion, and the China Construction Bank Corp. with $5.4 trillion. JPMorgan Chase was the biggest US-based bank with $3.9 trillion in assets. In comparison, the largest European bank was the UK-based HSBC Holdings with $3 trillion.

Written by the Market Insights Team

Trump’s tax plans optimism

George Vessey – Lead FX & Macro Strategist

US stocks closed at a five-week low and bonds soared yesterday as another disappointing reading on the US consumer fuelled concern about the health of the world’s largest economy. The US dollar index also retreated after US Secretary of the Treasury Scott Bessent said that US yields and the dollar will drop lower due to the Trump policy even if the Federal Reserve (Fed) keeps rates on hold. However, both the dollar and Treasury futures have gone into reverse after House Republicans passed a budget blueprint, paving the way for $4.5 trillion in tax cuts.

The twists and turns in macro and political developments are keeping investors on edge and financial markets volatile. The growth-scare narrative in the US worsened on Tuesday as a closely watched measure of consumer confidence fell by the most since August 2021 in February on concerns about the outlook for the broader economy. That prompted traders to boost bets on Fed rate cuts this year even as inflation pressures seem to be intensifying. Treasury yields fell to their  lowest levels in 2025. A gauge of megacaps extended a plunge from its peak to more than 10%, Bitcoin and the wider crypto-market suffered substantial losses and the US dollar index closed below its 100-day moving average for the first time since October 2024. A lot of the sudden moves look to be part of a reversal in the Trump trade and a growing narrative of softening consumption in the US driving Fed easing bets.

However, the tax cut plans have halted the slide in equities and the dollar, whilst Treasuries have steadied. Republicans have defended the cuts, insisting they will stimulate economic growth and, along with other Trump measures such as tariffs, limit increases to the deficit. The refocus on fiscal matters might help the dollar temporarily and divert attention from weak consumer activity until tariffs become a priority again next week.

Euro faltering at $1.05

George Vessey – Lead FX & Macro Strategist

The euro has staged a prominent appreciation against the US dollar in February, despite having fallen to an over 2-year low earlier in the month. EUR/USD has risen around 4% from near $1.01 to testing the key psychological (and resistance) handle of $1.05, though still six cents below its 5-year average.

A cyclically-driven turn in the US dollar has been noteworthy, with soft US economic data disappointing, helping EUR/USD rebound, but hard data remains robust for now. Reports of a possible peace agreement in Ukraine is also seen as providing a modest boost to EU economies, mainly due to higher military spending prompted by increased security fears, plus lower gas prices alleviating energy cost concerns and providing further support to the euro. Tariff fatigue also set in, allowing risk appetite to improve, aiding the pro-cyclical euro. Germany’s election results, despite bringing relief, has so far failed to enhance the euro’s uplift meaningfully though.

Stability in rates markets has also failed to boost the euro. The inverse relationship EUR/USD usually has with the MOVE index (volatility in fixed income), decoupled around the US election. The index is down around 16% since then and was recently trading near its lowest levels since early 2022. All else being equal, EUR/USD should’ve risen above $1.10.

But of course a huge variety of variables drive FX, and the weight those variables have on currencies often fluctuates. As a result, EUR/USD’s struggle to convincingly break north of $1.05 of late implies that hopes of sustained rally might be pinned more on a substantial turn in the US economy, though predicting the timing on that front is difficult.

Pound lacking fresh catalyst against euro

George Vessey – Lead FX & Macro Strategist

Sterling rallied to near its highest level of 2025 against the euro last week, and remains over two cents above its year-to-date low of €1.18 and well above its 5-year average of €1.16. GBP/EUR has been in a steady, healthy, uptrend for the best part of two years, enduring just six months of modest losses over this period and gaining almost 8% overall. There are some reasons to expect more gains over the course of 2025, but the absence of a fresh positive catalyst could limit upside potential.

Though excess euro pessimism is arguably here, the euro domestic context, both cyclical and political, remains euro-negative at this stage. Although the UK economy is expected to grow only ~1% this year, recent activity data has been more upbeat. Meanwhile, the Eurozone economy is expected to grow around 0.9%, with stronger US protectionism limiting growth in both regions. If and how US President Trump delivers on his tariff threats remains to be seen, but the UK should fare better than the Eurozone under most scenarios given the majority of UK sales to the US are services. Political uncertainty is also higher across Europe versus the UK, though the German election result has boosted hopes of pro-growth structural changes in Europe’s largest economy. The most significant bullish factor supporting GBP/EUR though is interest rate differentials. The European Central Bank is likely to cut interest rates more than the Bank of England (BoE) this year. Still-elevated UK wage growth and services inflation supports this assumption. That said, this is likely priced into the exchange rate and in fact, the real rate differential (taking into account inflation) suggests €1.19 is a fairer value.

So, where to next for sterling versus the euro? Barring any major deviations in the above (slightly stronger UK growth, less political uncertainty and fewer BoE rate cuts), GBP/EUR should remain supported and we don’t see a major trend reversal occurring anytime soon. However, the pair continues to bump into resistance around €1.21, which is near the upper limit of the post-Brexit vote range since 2016. We need a decisive break above here to establish a new higher trading range.

Equities, oil and yields lower

Table: 7-day currency trends and trading ranges

Key global risk events

Calendar: February 24-28

All times are in GMT

Have a question? [email protected]

*The FX rates published are provided by Convera’s Market Insights team for research purposes only. The rates have a unique source and may not align to any live exchange rates quoted on other sites. They are not an indication of actual buy/sell rates, or a financial offer.