Investing in monthly dividend-paying stocks can provide you with a reliable source of income that can be used to supplement your salary or fund other investments. These stocks pay out a portion of their profits to shareholders on a regular basis, typically every month. One benefit of investing in monthly dividend stocks is that you receive your payments more frequently than you would with stocks that pay dividends on a quarterly or annual basis. This can help you manage your cash flow more effectively and make it easier to plan your budget.

Additionally, many monthly dividend stocks are in industries that tend to be less affected by economic downturns. Such as real estate and utilities, which can provide a level of stability to your portfolio.

When choosing monthly dividend stocks, it’s important to do your research and carefully evaluate the company’s financials and business prospects. Also, consider diversifying your portfolio across different sectors and companies to reduce risk. Overall, monthly dividend stocks can be a great way for retail investors to earn a steady stream of income, and potentially increase their returns. Keeping this in mind, let’s look at three top monthly paying dividend stocks to watch in the stock market in 2023.

Monthly Dividend Stocks To Watch Now

Realty Income (O Stock)

First up, is Realty Income Corporation (O). For starters, Realty Income is a real estate investment trust that focuses on the acquisition and ownership of commercial properties across the United States. The company has a long history of paying dividends, and currently pays out a monthly dividend of $0.25 per share. The dividend yield is currently around 4.51%.

This past week, Realty Income Corporation announced it has declared its 631st consecutive monthly dividend of $0.2485 per share, which is equivalent to $2.982 per share on an annualized basis. The dividend will be payable on February 15th, 2023 to shareholders who are recorded on the books as of February 1st, 2023. The ex-dividend date for this month’s dividend is January 31st, 2023.

In the last month of trading, O stock is up 2.40% as of Friday’s closing bell. Meanwhile, on Friday, shares of O stock closed the day red on the day by 0.54% at $66.19 a share.

O stock chart
Source: TD Ameritrade TOS

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Stag Industrial (STAG Stock)

Another monthly dividend stock is STAG Industrial, Inc. (STAG). In brief, STAG is a real estate investment trust that focuses on the acquisition and ownership of industrial properties across the United States. The company has a consistent track record of paying dividends, and currently pays out a monthly dividend of $0.12 per share. The dividend yield is currently around 4.20%.

Last week, the company announced its common stock dividends for the first quarter. In detail, Stag Industrial has raised its monthly dividend for common stock to $0.122500 per share, which amounts to an annual dividend of $1.47.

Over the last month of trading action, shares of STAG stock have advanced by 4.85%. While, on Friday, STAG stock closed lower by 1.20% at $34.99 a share.

STAG stock
Source: TD Ameritrade TOS

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Main Street Capital (MAIN Stock)

Finally, we have Main Street Capital Corporation (MAIN). To start, Main Street Capital is a publicly traded business development company that provides long-term debt and equity capital to lower-middle market companies. The company has a long history of paying dividends and currently pays out a monthly dividend of $0.225 per share. The dividend yield is currently around 7.01%.

Last week, Main Street Capital Corporation has announced that during the 4th quarter of 2022, it originated new or increased commitments in its private loan portfolio of $44.2 million and funded total investments across its private loan portfolio with a cost basis of $86.4 million. In addition, as of December 31, 2022, Main Street’s private loan portfolio consisted of approximately $1.5 billion invested across 85 different borrowers.

In the last month of trading, MAIN stock has recovered by 3.55%. Meanwhile, as of Friday’s closing bell, shares of MAIN stock closed the trading day modestly lower by 0.77% at $38.51 a share.

MAIN stock
Source: TD Ameritrade TOS

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