Companies That Pay Monthly Dividends
I’ve always thought it would be great if the dividends I received were sufficient to pay all of my bills each and every month. It seems like a fairly easy thing to figure out. All I had to do is buy enough dividend paying stocks so that the dividends equalled the amount of money I owed on my recurring bills (electricity, water/sewage/garbage, cable/internet, and cell phone). Sounds simple but most companies pay quarterly dividends and my bills arrive monthly.
If I could only budget my quarterly dividends well enough to ensure there was enough income to pay for my bills each month I would be satisfied. But it would be so much simpler if my dividends arrived on a monthly basis just like my bills. Luckily there are companies that pay dividends on a monthly basis rather than a quarterly basis. The advantages are obvious.
Below is a list of 24 companies headquartered in the United States that pay dividends on a monthly basis. None of these companies will be found on the list of Dividend Aristocrats so due diligence must be taken before any investing is conducted. However, if monthly dividends are important, a closer look at the following companies may be in order.
If I could only budget my quarterly dividends well enough to ensure there was enough income to pay for my bills each month I would be satisfied. But it would be so much simpler if my dividends arrived on a monthly basis just like my bills. Luckily there are companies that pay dividends on a monthly basis rather than a quarterly basis. The advantages are obvious.
Below is a list of 24 companies headquartered in the United States that pay dividends on a monthly basis. None of these companies will be found on the list of Dividend Aristocrats so due diligence must be taken before any investing is conducted. However, if monthly dividends are important, a closer look at the following companies may be in order.
American Realty Capital Properties (ARCP) owns and acquires single tenant, freestanding commercial real estate that is net leased on a medium-term basis, primarily to investment grade credit rated and other creditworthy tenants. The company principally invests in retail and office properties. As of June 20, 2012, its portfolio consisted of 118 properties. American Realty Capital Properties, Inc. was founded in 2010 and is based in New York, New York. (Daily Chart) (Weekly Chart)
ARMOUR Residential REIT, Inc. (ARR) is a real estate investment trust launched and managed by ARMOUR Residential Management LLC. It invests in the real estate markets of the United States. The fund seeks to invest in hybrid adjustable rate, adjustable rate and fixed rate residential mortgage backed securities issued or guaranteed by a U.S. Government-sponsored entity (GSE), such as the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, or guaranteed by the Government National Mortgage Administration. The company’s portfolio also includes the investments in unsecured notes and bonds, treasuries, and money market instruments. ARMOUR Residential REIT, Inc. was founded in 2008 and is based in Vero Beach, Florida. (Daily Chart) (Weekly Chart)
BreitBurn Energy Partners L.P. (BBEP) engages in the acquisition, exploitation, and development of oil and gas properties in the United States. The company’s properties include natural gas, oil, and midstream assets comprising fields in the Antrim Shale in Michigan, and the New Albany Shale in Indiana and Kentucky; the Evanston and Green River Basins in southwestern Wyoming, the Wind River and Big Horn Basins in central Wyoming, and the Powder River Basin in eastern Wyoming; the Permian Basin in Texas; the Los Angeles Basin in California; the Belridge Field in the San Joaquin Basin in California; and fields in Florida’s Sunniland Trend. As of December 31, 2012, its total estimated proved reserves were 149.4 million barrels of oil equivalent. BreitBurn GP, LLC serves as the general partner to the company. BreitBurn Energy Partners L.P. was founded in 2006 and is headquartered in Los Angeles, California. (Daily Chart) (Weekly Chart)
Chatham Lodging Trust (CLDT) is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It primarily invests in premium-branded upscale extended-stay and select-service hotels to create its portfolio. Chatham Lodging Trust was founded on October 26, 2009 and is based in Palm Beach, Florida. (Daily Chart) (Weekly Chart)
Chambers Street Properties (CSG) is a equity real estate investment trust. The firm invests in the real estate markets of United States, United Kingdom, and Germany. It focuses on acquiring, owning and operating the properties. The firm invests in industrial and office properties. Chambers Street Properties was founded in 2004, and is based in New Jersey, United States. (Daily Chart) (Weekly Chart)
Gas Natural Inc. (EGAS) engages in the distribution and sale of natural gas to residential, commercial, and industrial customers. It distributes approximately 33 billion cubic feet (Bcf) of natural gas to approximately 69,000 customers through regulated utilities operating in Kentucky, Maine, Montana, North Carolina, Ohio, Pennsylvania, and Wyoming. The company markets approximately 1.4 Bcf of natural gas to commercial and industrial customers in Montana and Wyoming; and manages midstream supply and production assets for transportation customers and utilities. The company also owns 160 natural gas producing wells and gas gathering assets located in Glacier and Toole counties in Montana. In addition, the company owns the Shoshone interstate and the Glacier gathering natural gas pipelines located in Montana and Wyoming. Further, it delivers liquid propane, heating oil, and kerosene to approximately 3,400 residential, commercial, and agricultural customers in North Carolina and Virginia. The company was formerly known as Energy, Inc. and changed its name to Gas Natural Inc. in July 2010. Gas Natural Inc. was founded in 1909 and is based in Great Falls, Montana. (Daily Chart) (Weekly Chart)
EPR Properties (EPR), a real estate investment trust (REIT), develops, owns, leases, and finances entertainment and related properties in the United States and Canada. Its properties include megaplex theatres, entertainment retail centers, and destination recreational and specialty properties. As of December 31, 2007, the company had a real estate portfolio of 79 megaplex theatre properties located in 26 states in the U.S. and Ontario, Canada; 1 additional theatre property under development; 8 entertainment retail centers located in Westminster, Colorado, New Rochelle, New York, White Plains, New York, Burbank, California, and Ontario, Canada; and 1 additional entertainment retail center under development and land parcels leased to restaurant and retail operators. EPR Properties qualifies as a REIT under the Internal Revenue Code and would not be subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its shareholders. The company was founded in 1997 and is based in Kansas City, Missouri. (Daily Chart) (Weekly Chart)
Fifth Street Finance Corp. (FSC) is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, and management buyouts in small and mid-sized companies. It seeks to invest in education services, business services, retail and consumer, healthcare, manufacturing, food and restaurants, construction and engineering, and media and advertising sectors. The fund invests between $5 million to $75 million principally in the form of one-stop, first lien, and second lien debt investments, which may include an equity component in companies with enterprise value between $20 million and $150 million and EBITDA between $3 million and $50 million. It has a hold size of up to $75 million and may underwrite transactions up to $100 million. The fund primarily invests in North America. It seeks to be a lead investor in its portfolio companies. (Daily Chart) (Weekly Chart)
Full Circle Capital Corporation (FULL) is an externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Full Circle invests primarily in asset-based senior secured loans and, to a lesser extent, mezzanine loans and equity securities issued by smaller and lower middle-market companies that operate in a diverse range of industries. Our investments generally range in size from $3 million to $10 million or more. (Daily Chart) (Weekly Chart)
Gladstone Investment’s (GAIN) debt investments primarily consist of three types of loans to small and medium sized businesses in the United States: senior term loans, senior subordinated loans, and junior subordinated loans. Loans range from $5 million to $30 million with terms of up to seven years. Gladstone Investment’s equity investments typically take the form of preferred or common equity (or warrants to acquire the foregoing). Historically, as Gladstone Investment has primarily been a buyout fund, it aims to maintain a portfolio consisting of approximately 80% debt investments and 20% equity investments, at cost. Gladstone Investment operates as a closed-end, non-diversified management investment company and has elected to be treated as a business development company (“BDC”) under the Investment Company Act of 1940. (Daily Chart) (Weekly Chart)
Gladstone Capital’s (GLAD) debt investments primarily consist of three types of loans to small and medium sized businesses in the United States: senior term loans, senior subordinated loans, and junior subordinated loans. Loans range from $5 million to $30 million with terms of up to seven years. Gladstone Capital’s equity investments typically take the form of preferred or common equity (or warrants to acquire the foregoing). Historically, as Gladstone Capital has primarily been a debt fund, it aims to maintain a portfolio consisting of approximately 95% debt investments and 5% equity investments, at cost. Our goals are to achieve and grow current income through our debt investments that will allow distributions to stockholders to grow over time and to provide stockholders with long term appreciation in the value of our assets by investing in equity securities that we believe can grow over time to permit us to sell our equity investments for capital gains. (Daily Chart) (Weekly Chart)
Gladstone Commercial’s (GOOD) typical investment ranges from $5 million to $20 million. Gladstone Commercial’s portfolio of real estate is leased to a wide cross section of tenants ranging from small businesses to large public companies, many of which are corporations that do not have publicly-rated debt. Gladstone Commercial intends to continue to enter into purchase agreements for real estate with existing triple net leases with terms of approximately 10 to 15 years, with built in rental increases.Gladstone Commercial provides two types of real estate transactions: (1) We purchase real estate already owned by a business and lease it back to them; therefore freeing up their equity in the real estate, and (2) We buy real estate that is already leased to good tenants. (Daily Chart) (Weekly Chart)
Gladstone Land (LAND) owns farmland in Arizona, California, Florida, Oregon, and Michigan with an appraised value over $113 Million. We are actively seeking other farm properties to purchase across the United States. Gladstone Land acquires farmland that it rents to corporate and independent farmers on a triple-net lease basis, an arrangement under which the farmer maintains the property while paying rent to Gladstone Land. We offer land owners and farmers the following options: (1) For sellers that farm the land, we offer a long-term sale leaseback transaction which allows farmers to free up capital to repay existing indebtedness, grow their farming operations, reitre or for other business endeavors, (2) For sellers that do not farm the land, we will purchase the property and keep the existing tenant on the farm with a long-term lease (3) For farmers that find properties they want to farm, but not own, we may purchase the farm and rent it to the farmer with flexible lease terms. (Daily Chart) (Weekly Chart)
Harvest Capital Credit Corporation (HCAP) is a publicly traded Business Development Company that provides customized financing to small and midsized businesses located throughout North America. Their products include senior secured debt, unitranche term loans, junior secured term loans, subordinated debt investments and minority equity co-investments. Their origination appetite includes transactions initiated by private equity sponsors as well as non-sponsored deals for companies with revenues of $10 million to $100 million. We intend to directly originate transactions but will also consider syndicated or club transactions. Investments usually take the form of subordinated debt, junior secured term loans, unitranche term loans and, to a lesser extent, senior secured term loans. We will also consider minority equity investments alongside a portfolio company’s ownership and/or private equity sponsor. We seek to make debt investments ranging in size from $2.0 million to $10.0 million, or larger amounts through our limited partner relationships, and equity co-investments of up to $1.0 million. (Daily Chart) (Weekly Chart)
Horizon Technology Finance Corporation (HRZN), a specialty finance company, lends to and invests in development-stage companies in the United States. It provides secured loans to companies backed by established venture capital and private equity firms in the technology, life science, healthcare information and services, and cleantech industries. Horizon Technology Finance Corporation was founded in 2008 and is based in Farmington, Connecticut. (Daily Chart) (Weekly Chart)
Inland Real Estate Corporation (IRC), a real estate investment trust (REIT), engages in the ownership, operation, and development of shopping centers and single-tenant retail properties in the Midwest region of the United States. As of December 31, 2007, the company owned interests in 152 investment properties, comprising 70 neighborhood retail centers totaling approximately 4,397,000 gross leasable square feet; 20 community centers totaling approximately 3,007,000 gross leasable square feet; 28 power centers totaling approximately 4,622,000 gross leasable square feet; 1 lifestyle center totaling approximately 562,000 gross leasable square feet; and 33 single-user properties totaling approximately 2,139,000 gross leasable square feet. Inland Real Estate Corporation has elected to be taxed as a REIT under the Internal Revenue Code and would not be subject to federal income tax to the extent it distributes at least 90% of its REIT taxable income to stockholders. The company was formed in 1994 and is based in Oak Brook, Illinois. (Daily Chart) (Weekly Chart)
JAVELIN Mortgage Investment Corp. (JMI) is a Real Estate Investment Trust (REIT) that invests in mortgage backed securities and related investments. It is externally managed by ARMOUR Residential Management LLC. (Daily Chart) (Weekly Chart)
Linn Energy, LLC (LINE), an independent oil and natural gas company, engages in the acquisition and development of oil and natural gas properties. The company’s properties are located in the Mid-Continent, the Hugoton basin, the Green River basin, the Permian basin, Michigan, Illinois, the Williston/Powder River basin, California, and East Texas in the United States. As of December 31, 2012, it had proved reserves of 4,796 billion cubic feet equivalent oil, natural gas, and natural gas liquids; and operated 15,804 gross productive wells. The company was founded in 2003 and is headquartered in Houston, Texas. (Daily Chart) (Weekly Chart)
LTC Properties, Inc. (LTC) operates as a health care real estate investment trust (REIT) in the United States. It invests in senior housing and long term healthcare properties, including skilled nursing properties, assisted living properties, independent living properties, and combinations through mortgage loans, property lease transactions, and other investments. Its portfolio consists of 89 skilled nursing properties, 102 assisted living properties, 14 other senior housing properties, 2 schools, and a parcel of land under development. As a REIT, the company would not be subject to federal income tax, if it distributes at least 90% of net taxable income to its stockholders. LTC Properties, Inc. was founded in 1992 and is based in Westlake Village, California. (Daily Chart) (Weekly Chart)
Main Street Capital Corporation (MAIN) is a business development company specializing in long- term equity, equity related, and debt investments in small and lower middle market companies. The firm focuses on investments in warrants, PIK (Payment in Kind) interest, convertible securities, junior secured or unsecured, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, ownership transitions, recapitalizations, strategic acquisitions, business expansion, growth financings, and other growth initiatives primarily for later stage businesses. It does not seek to invest in start-up companies or companies with speculative business plans. It seeks to invest in traditional or basic businesses. The firm primarily invests in companies based in the Southern, South Central, and Southwestern regions of the United States but also considers other domestic investment opportunities. It invests between $2 million and $15 million in companies with revenues between $5 million and $300 million, enterprise values between $3 million and $50 million, and EBITDA between $1 million and $10 million. The firm seeks to charge a fixed interest rate between 12 percent and 14 percent, payable in cash, in case of its mezzanine loan investments. The firm typically invests in the form of term debt with equity participation and/or direct equity investments. It prefers to maintain fully diluted equity positions in its portfolio companies of 5 percent to 50 percent, and may have controlling interests in some instances. The firm also co-invests with other investment firms. It seeks to exit its debt investments through the repayment of the investment from internally generated cash flow and/or refinancing within a period of three to seven years. Main Street Capital Corporation was founded in 1997 and is based at Houston, Texas. (Daily Chart) (Weekly Chart)
PennantPark Floating Rate Capital Ltd. (PFLT) is an externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Our investment objective is to seek current income and capital appreciation by investing primarily in Floating Rate Loans and other investment made to U.S. middle-market private companies whose debt is rated below investment grade. Under normal market conditions, we generally expect that at least 80% of the value of our Managed Assets, which means our net assets plus any borrowings for investment purposes, will be invested in Floating Rate Loans and investments with similar economic characteristics, including cash equivalents invested in money market funds. We generally expect that senior secured loans will represent at least 65% of our overall portfolio. We also generally expect to invest up to 35% of our overall portfolio opportunistically in other types of investments, including second-lien, high yield, mezzanine and distressed debt securities and equity investments. Our investment size may generally range between $1 million and $10 million, on average, although we expect that this investment size will vary proportionately with the size of our capital base. (Daily Chart) (Weekly Chart)
Prospect Capital Corporation (PSEC) is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, buyouts, recapitalizations, turnaround, growth capital, development, subordinated debt tranches of collateralized loan obligations, cash flow term loans, and bridge transactions. It also makes real estate investments particularly in multi-family residential real estate asset class. The fund makes secured debt, senior debt, unitranche debt, first-lien and second lien, private debt, mezzanine debt, and equity investments in private and microcap public businesses. It typically invests across all industry sectors, with a particular expertise in the energy and industrial sectors. The fund invests in aerospace and defense, chemicals, conglomerate services, consumer services, ecological, electronics, financial services, machinery, manufacturing, media, pharmaceuticals, retail, software, specialty minerals, textiles and leather, transportation, oil and gas production, coal production, materials, industrials, consumer discretionary, information technology, utilities, pipeline, storage, power generation and distribution, renewable and clean energy, oilfield services, healthcare, food and beverage, education, business services, and other select sectors. It prefers to invest in the United States and Canada. The fund seeks to invest between $10 million to $250 million per transaction in companies with EBITDA between $5 million and $150 million, sales value between $25 million and $500 million, and enterprise value between $5 million and $1000 million. It fund also co-invests for larger deals. The fund seeks control acquisitions by providing multiple levels of the capital structure. The fund focuses on sole, agented, club, or syndicated deals. (Daily Chart) (Weekly Chart)
QR Energy, LP (QRE), through its subsidiary, QRE Operating, LLC, engages in the acquisition, exploitation, development, and production of oil and natural gas properties in the United States. As of December 31, 2012, the company’s properties consisted of working interests in 4,527 gross producing wells located in Alabama, Arkansas, Florida, Kansas, Louisiana, Michigan, New Mexico, Oklahoma, and Texas. It also had estimated net proved reserves of 56.8 million barrels of oil and condensate; 190.3 billion cubic feet of natural gas; and 10.6 million barrels of natural gas liquids. QRE GP, LLC operates as the general partner of the company. QR Energy, LP was founded in 2006 and is headquartered in Houston, Texas. (Daily Chart) (Weekly Chart)
Realty Income Corporation (O) is a publicly traded real estate investment trust. It invests in the real estate markets of the United States. The firm makes investments in commercial real estate. Realty Income Corporation was founded in 1969 and is based in Escondido, California. (Daily Chart) (Weekly Chart)
Solar Senior Capital Ltd. (SUNS) is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans. The fund invests between $5 million and $30 million in companies with EBITDA between $20 million and $60 million. (Daily Chart) (Weekly Chart)
Stellus Capital Management (SCM) seeks to develop long-term relationships with middle market companies, management teams, financial sponsors, lending institutions, and deal intermediaries by providing flexible financing throughout the capital structure. Through our Private Credit strategy we focus on providing first lien, second lien, unitranche, mezzanine, and convertible debt to middle market companies in a range of industries. In our Energy Private Equity strategy we focus on providing equity and equity-linked debt capital to small and middle market energy businesses. (Daily Chart) (Weekly Chart)
Vanguard Natural Resources, LLC (VNR), through its subsidiaries, engages in the acquisition and development of oil and natural gas properties in the United States. It owns properties and oil and natural gas reserves primarily located in nine operating areas: the Arkoma Basin in Arkansas and Oklahoma; the Permian Basin in West Texas and New Mexico; the Big Horn Basin in Wyoming and Montana; the Piceance Basin in Colorado; South Texas; the Williston Basin in North Dakota and Montana; the Wind River Basin in Wyoming; the Powder River Basin in Wyoming; and Mississippi. As of December 31, 2012, the company had total proved reserves of 152.2 million barrels of oil equivalent, as well as owned working interests in 2,266 net productive wells and approximately 785,085 gross undeveloped acres. Vanguard Natural Resources, LLC was founded in 2006 and is headquartered in Houston, Texas. (Daily Chart) (Weekly Chart)
Wheeler Real Estate Investment Trust, Inc. (WHLR) engages in acquiring, financing, developing, leasing, owning, and managing real estate properties in the mid-Atlantic, southeast, and southwest United States. It acquires strip centers, neighborhood, grocery-anchored, community, and free-standing retail properties. The company leases its properties to national and regional retailers. As of June 30, 2011, its portfolio had a total gross leasable area of 368,865 square feet. The company was founded in 2011 and is headquartered in Virginia Beach, Virginia. (Daily Chart) (Weekly Chart)
Whitestone REIT (WSR) is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It is engaged in owning and operating commercial properties in culturally diverse markets in major metropolitan areas. The firm was formerly known as Hartman Commercial Properties REIT. Whitestone REIT was founded on 1998 and is based in Houston, Texas. (Daily Chart) (Weekly Chart)
