Living off your investment portfolio is a great way to conserve money during your retirement, especially considering you’ll be on a fixed income, so you’ll want to look at other options besides dividend stocks that only pay out quarterly. That means monthly you have bills that are stacking up that you won’t have money to cover for months to come until the next dividend stock comes in. You can alleviate this issue by re-investing some of your portfolio in monthly dividend stocks. Take a look at some of the best monthly dividend stocks you can add to your portfolio to help boost that needed income and keep in mind you won’t find any penny stocks here, so be prepared to re-invest a significant chunk of change to get dividends that can support you in retirement.
Apple Hospitality REIT
Apple Hospitality REIT is the leading company behind the Hilton and Marriot hotel chain. It is one of the top five owners of these two brands across the nation. It holds 241 hotels in 34 states and focuses on competitive markets like Nashville, Dallas, Atlanta, Los Angeles, and San Diego. APLE has generated consistent income growth and has provided a steady monthly dividend of $.10 per share, or $1.20 annually. The REIT first became publicly traded in 2015 and has been a reliable dividend provider since then.
Another REIT on the list, Gladstone Land invests in farms and farmland across the United States. The company owns more than 75 farms with 63,000 acres across nine different states. REIT’s farmland is used primarily to grow fresh fruits and vegetables, rather than crops like soybeans and rice. These farms tend to produce higher productivity and rents. The outlook for this monthly dividend stock is good since 2/3 of America’s farmers are nearing retirement age. The advanced aging of America’s farmers could create plenty of acquisition opportunities from the REIT in the future. Gladstone anticipates another dividend hike in January, so now is a prime opportunity to jump in on this stock.
Global Net Lease
Global Net Lease is another real estate company that owns significant office assets across the United States and Europe. GNL has more than 333 properties with more than 25 million square feet of leasable space. The company has leased 99.5% of its properties to 104 different tenants. GNL is focused on expanding its properties in the United States. In 2018 alone, the company acquired 14 properties. It expects to continue growing with $372 million in acquisitions planned for 2019. GNL has been paying monthly dividends since 2012. The last rate increase was in 2015 where the dividend payout was tripled to $.18 per share or $1.80 annually. The company has had consistent growth in the past and appears to be managed well.
These are just a handful of monthly dividend-paying stocks that can help give retirees some reliable monthly income. All three companies appear to be in a good place financially, which means long-term dividend payments for those who invest in the company.