Dividends are a common way for businesses to reward shareholders by distributing a percentage of their profits. Dividends are normally paid out quarterly, however, some corporations choose to pay them out monthly. Monthly dividend stocks have grown in favor among investors seeking a consistent supply of income. These stocks are often from businesses with continuous cash flow and earnings, such as real estate investment trusts (REITs), utilities, and telecommunications firms.
Monthly dividend stocks can provide a consistent stream of income for investors, particularly those who are retired or rely on investment income. However, before investing in these stocks, investors should properly evaluate them. Some firms may provide high dividend yields, but if their financials or profitability are weak, they may not be able to continue those payouts in the long run. Furthermore, if this has you keen on investing in monthly dividend stocks, here are three to watch in the stock market today.
Monthly Dividend Stocks To Buy [Or Avoid] Now
- Realty Income Corporation (NYSE: O)
- STAG Industrial, Inc. (NYSE: STAG)
- Pembina Pipeline Corporation (NYSE: PBA)
Realty Income Corporation (O Stock)
Realty Income (O) is a real estate investment trust (REIT) that owns and operates over 12,000 properties across a variety of industries, including retail, commercial, and industrial. The company has a long history of paying monthly dividends, earning it the nickname “The Monthly Dividend Company.”
Just this month, the company announced its 634th consecutive monthly dividend for common stock. In detail, The monthly dividend will be in the amount of $0.2550 per share, or an annualized amount of $3.060 per share. The dividend will be paid on May 15, 2023, to stockholders of record as of May 1, 2023. The ex-dividend date for April’s dividend is April 28, 2023.
Year-to-date, shares of Realty Income Corp have fallen by 4.66% so far. Meanwhile, during Wednesday morning’s trading action, O stock opened the day slightly lower by 0.51% at $60.80 a share.
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STAG Industrial (STAG Stock)
Second, STAG Industrial (STAG) is a REIT that focuses on single-tenant industrial properties. The company’s portfolio consists of over 500 properties across 41 states, with tenants in industries such as logistics, manufacturing, and e-commerce.
In April, STAG Industrial announced its second-quarter common stock dividends. Diving in, the company’s Board of Directors declared a monthly common stock dividend of $0.122500. Moreover, this dividend is payable on May 15, 2023, to shareholders of record on April 28, 2023. This results in an annual dividend yield of 4.45%.
Since the start of 2023, STAG stock has advanced by 2.10% year-to-date. Additionally, during Wednesday morning’s trading session, shares of STAG Industrial opened modestly lower by 0.54% at $33.03 a share.
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Pembina Pipeline Corp. (PBA Stock)
Last but not least, Pembina Pipeline (PBA) is a Canadian energy transportation and midstream company that operates a network of pipelines, storage facilities, and processing plants. The company’s assets are primarily located in Western Canada, with a focus on natural gas and crude oil.
At the beginning of this month, the company announced the date and time it will release its first quarter 2023 financial results. Specifically, Pembina Pipeline will report its Q1 2023 results on Thursday, May 4, 2023, following the close of the U.S. stock market.
Year-to-date, shares of PBA are flat on the year so far. Moving along, during Wednesday morning’s trading session, PBA stock is trading lower on the day so far by 0.69% at $33.04 a share.
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