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Hello Everyone,
I'm interested in making monthly dividends to supplement my income. But i dont know where to start. I googled for a monthly dividend stockscreener but i only find screeners for all stocks and not just monthly. I thought there would be a better way than to search through every stock. also what to look for in a monthly dividend stock? whats the average amount I should budget each month to buy the stocks?
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Hi, and welcome.
First of all, you don't need a stock that pays monthly in order to get income monthly. Most of the north american companies pay out a quarterly dividend, so 4x per year. With a few different companies you can already achieve monthly income, though the amount will of course vary from month to month. Eventually you will want to own quite many different companies from different sectors in order to have more safety.
However that is not to say that it's a bad idea to look for companies that pay every month, I own a few of those and I couldn't be happier with the stable monthly cashflow. REITs and MLPs often pay out monthly, so those are good places to start looking.
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The three companies that I own who pay monthly are Realty Income (O), STAG Industrial (STAG) and Chatham Lodging Trust (CLDT).
Realty Income is the steadiest of the three, but is a bit overvalued now and yields just under 4%.
STAG appears reasonably valued and yield around 6%.
CLDT is the cheapest of the three, but also has the biggest concerns about future growth at the moment. It yields 7.4%.
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10-14-2016, 12:14 AM
(This post was last modified: 10-14-2016, 12:14 AM by Dividend Watcher.)
Shaw Communications (SJR) is a dual-listed Canadian communications/cable company that pays monthly.
Main Street Capital (MAIN) is a Business Development Company (BDC) that pays monthly.
crimsonghost is correct. You can get dividends every month by assembling a collection of companies that pay on different quarterly schedules. If you want to see you options, get the CCC spreadsheet located here and look through the schedule in column 'P'. A, B & C correspond to the payment cycle.
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“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan
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sorry for the late response. been working alot. Thank you all for your replies and insight. I have alot of research to do
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IBM, MaCdonalds, and Prctor and Gamble area also a good choice for safe and monthly dividend earning choice.
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(10-21-2016, 03:55 AM)Sniper Wrote: IBM, MaCdonalds, and Prctor and Gamble area also a good choice for safe and monthly dividend earning choice.
Ummmm, nope. Those are all quarterly payers.
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(10-21-2016, 03:41 PM)Kerim Wrote: (10-21-2016, 03:55 AM)Sniper Wrote: IBM, MaCdonalds, and Prctor and Gamble area also a good choice for safe and monthly dividend earning choice.
Ummmm, nope. Those are all quarterly payers.
What I think he means is that PG pays on month 1 of the Q, IBM on month 2 of the Q and MCD on month 3, equal investments in all 3 would generate a fairly consistent amount on a monthly basis.
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http://ilovedividends.com/american-dividend-stocks.html
Very hard to set up a substantial monthly program as it forces you to leave many March, June, September, and December payers(greater percentage pay those months) out of your portfolio.
David Fish's Champion spreadsheet also lists dates. You could sort his data that way and start building.
The alternative is to just budget accordingly.
I do track this with my portfolio as well.
There are people who use up their entire lives making money so they can enjoy the lives they have entirely used up
Frederick Buechner
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Sweet more info thank you all for your contributions to this thread im researching and trying to process it all
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But most of the blue-chip companies included in the S&P-500 index pay quarterly dividends. Investors seeking a monthly dividend income are usually left with real estate income trusts (REITs) or business development companies with a basket of risky portfolios.
It needs a lot of hard work to find the monthly paying companies.
EPR properties and LTC Properties Inc. are two of the monthly dividend stocks paying companies
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It really isn't that difficult to find payers for each month if you do a little digging.
For example here is a group for each month just from my own portfolio.
Jan/April/July/Oct
DPS, GE, MDU, OXY, PM, XEL
Feb, May, Aug, Nov
AAPL, ABBV, CBRL, GIS, OHI, SBUX
Mar, Jun, Sep, Dec
CHD, CMI, CVX, D, FLO, IBM, LMT, MCD, MSFT, QCOM, TGT, WFC
While there are more companies that pay on the March, June, September, December schedule, there are still plenty of good companies that pay in other months. It would take a bit of work to balance them out if one is inclined, but it is simply a matter of weighting to get the income balanced out. An easier workaround is simply to to keep a couple months worth of reserves and then just withdraw a set amount each month. The cash balance will drop during the leaner months and then replenish during the higher paying ones.
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