High 10 Non-REIT Month-to-month Dividend Shares

Printed on February 2nd, 2026 by Bob Ciura

Month-to-month dividend shares are securities that pay a dividend each month as an alternative of quarterly or yearly.

Month-to-month dividend shares have instantaneous enchantment for a lot of earnings buyers. Shares that pay their dividends every month supply extra frequent payouts than conventional quarterly or semi-annual dividend payers.

For that reason, we created a full listing of over 100 month-to-month dividend shares.

You may obtain our full Excel spreadsheet of all month-to-month dividend shares (together with metrics that matter like dividend yield and payout ratio) by clicking on the hyperlink under:

 

A lot of the month-to-month dividend shares listing is comprised of Actual Property Funding Trusts, or REITs.

Nonetheless, there are many month-to-month dividend shares that aren’t REITs. Different kinds of securities embody widespread shares, Enterprise Growth Corporations, or Grasp Restricted Partnerships.

Subsequently, this text will talk about the highest 10 non-REIT month-to-month dividend shares within the Positive Evaluation Analysis Database.

Desk Of Contents

The perfect non-REIT month-to-month dividend shares are ranked under, in response to their anticipated annual returns over the following 5 years.

You may immediately soar to a person part of the article by using the hyperlinks under:

Non-REIT Month-to-month Dividend Inventory #10: Trinity Capital (TRIN)

• Anticipated Annual Return: 8.5%

Trinity Capital is an internally managed BDC specializing on offering secured debt financing to venture-backed progress firms, primarily within the know-how and life sciences ecosystems.

As of its newest quarterly filings, it has investments in 97 portfolio firms, with the portfolio weighted towards Finance & Insurance coverage (~15.8%), SaaS (~10.3%), Healthcare Companies (~10.1%), Medical Gadgets (~9.9%), and House Expertise (~8.6%), amongst different industries.

The portfolio consisted of 76.6% loans, 14.5% tools financings, and eight.9% fairness and warrants. Final 12 months, the BDC generated $226.8 million in whole curiosity and dividend earnings.

On November fifth, 2025, Trinity Capital reported its Q3 outcomes for the interval ending September thirtieth, 2025. Funding earnings elevated 22.3% 12 months over 12 months to $75.6 million, pushed by robust origination exercise and continued demand throughout the corporate’s direct lending and tools financing platforms.

The online improve in internet property ensuing from operations was $27.6 million, or $0.39 per share, reflecting strong portfolio efficiency regardless of realized losses tied to pick out funding exits and conversions.

NAV per share rose to $13.31, up 31.9% year-over-year and modestly increased than $13.27 on the finish of the prior quarter. This was resulting from portfolio progress and accretive fairness issuance.

Click on right here to obtain our most up-to-date Positive Evaluation report on TRIN (preview of web page 1 of three proven under):

Non-REIT Month-to-month Dividend Inventory #9: Capital Southwest Corp. (CSWC)

• Anticipated Annual Return: 8.6%

Capital Southwest Company is an internally managed funding firm that has elected to be regulated as a BDC.

The corporate focuses on offering custom-made debt and fairness financing to decrease center market (LMM) firms and debt capital to upper-middle market (UMM) firms positioned primarily in america. Capital Southwest generates round $82 million in annual income.

On November third, 2025, Capital Southwest posted its fiscal Q2-2026 outcomes for the interval ending September thirtieth, 2025. Complete funding earnings was $56.9 million, up from $55.9 million within the prior quarter.

The rise in funding earnings was primarily pushed by increased money curiosity and price earnings, partially offset by a decline in payment-in-kind (PIK) curiosity.

The proportion of PIK earnings decreased once more sequentially, underscoring continued stability in money yields. In the meantime, the weighted common yield on debt investments was 11.5%, in comparison with 11.8% within the prior quarter.

Pre-tax internet funding earnings (NII) got here in at $34.0 million, up from $32.7 million in Q1-2026. On a per-share foundation, it was unchanged at $0.61. Undistributed taxable earnings (UTI) elevated to $1.13 per share, benefiting from $3.5 million in realized beneficial properties on an fairness exit throughout the quarter.

Click on right here to obtain our most up-to-date Positive Evaluation report on CSWC (preview of web page 1 of three proven under):

Non-REIT Month-to-month Dividend Inventory #8: Itau Unibanco (ITUB)

• Anticipated Annual Return: 8.6%

Itaú Unibanco Holding S.A. is headquartered in Sao Paulo, Brazil. It’s the world’s tenth-largest financial institution by market worth, and the biggest Latin American financial institution by property and market capitalization.

The financial institution has operations throughout South America and different locations like america, Portugal, Switzerland, China, Japan, and so on.

Itaú presently employs over 96,000 individuals worldwide and has a market capitalization of $81.4 billion.

On November 4th, 2025, Itaú Unibanco reported third-quarter outcomes for 2025. The corporate reported robust outcomes for the primary 9 months of 2025, with a recurring results of R$33.1 billion (~$5.96 billion USD), up 8.8% year-over-year.

Its credit score portfolio reached R$1.4 trillion (~$252 billion USD), increasing 6% in Brazil—pushed by progress in each particular person and company lending—though Latin America noticed a 1.2% decline.

Recurring ROE remained excessive at 21.1%, reflecting continued profitability even in a slower macro surroundings.

Web curiosity earnings rose 13.8% to R$91.8 billion (~$16.5 billion USD) resulting from increased mortgage volumes and stronger interbank deposit revenues.

Working effectivity additionally improved, with common and administrative bills falling 4.8%, helped by reductions in non-financial product gross sales, authorized provisions, and different prices.

Click on right here to obtain our most up-to-date Positive Evaluation report on ITUB (preview of web page 1 of three proven under):

Non-REIT Month-to-month Dividend Inventory #7: Dynacor Group (DNGDF)

• Anticipated Annual Return: 9.8%

Dynacor is a Canadian industrial gold processor with core operations in Peru, the place it purchases ore from artisanal and small-scale miners and processes it at its wholly owned Veta Dorada plant in Chala.

The power has a nameplate capability of 430 tonnes per day and is optimized for steady, high-efficiency throughput.

Dynacor’s mannequin is exclusive in that it doesn’t have interaction in exploration or mining, as an alternative working an in depth ore buying community throughout Peru to supply high-grade feedstock.

The corporate operates a robust logistics community for gathering ore, runs its personal labs for evaluation, and handles gold exports with safe, dependable methods.

Dynacor additionally reinvests in increasing its provide community and enhancing plant capability, whereas sustaining a lean value construction and constant manufacturing circulate.

On November eleventh, 2025, Dynacor reported its Q3 outcomes. The corporate posted income of $100.5 million, up from $76.2 million final 12 months, a 31.9% improve pushed primarily by considerably increased realized gold costs, regardless of decrease gold gross sales volumes tied to momentary ore provide disruptions earlier within the quarter.

Gold gross sales totaled 28,764 gold-equivalent ounces, down from 30,651 ounces in Q3 2024. The typical promoting worth rose sharply to $3,494 per ounce, in comparison with $2,485 final 12 months.

Web earnings was $5.5 million, barely under the $5.9 million recorded in Q3 2024. EPS declined to $0.13 from $0.16. Working margin was 11.7%, down from 13.6% final 12 months, reflecting non-recurring reorganization bills, increased common and administrative prices related to worldwide enlargement, and decrease manufacturing volumes.

Click on right here to obtain our most up-to-date Positive Evaluation report on DNGDF (preview of web page 1 of three proven under):

Non-REIT Month-to-month Dividend Inventory #6: Ellington Monetary (EFC)

• Anticipated Annual Return: 10.9%

Ellington Monetary Inc. acquires and manages mortgage, client, company, and different associated monetary property within the United States.

The corporate acquires and manages residential mortgage–backed securities (RMBS) backed by prime jumbo, Alt–A, manufactured housing, and subprime residential mortgage loans.

Moreover, it manages RMBS, for which the U.S. authorities ensures the principal and curiosity funds. It additionally offers collateralized mortgage obligations, mortgage–associated and non–mortgage–associated derivatives, fairness investments in mortgage originators and different strategic investments.

On November sixth, 2025, Ellington Monetary reported its Q3 outcomes. As with earlier quarters, the corporate reported solely earnings, not revenues.

Gross curiosity earnings totaled $122.85 million, up sequentially, whereas internet curiosity margins expanded throughout the credit score portfolio and Longbridge delivered robust origination and servicing outcomes amid report proprietary manufacturing. Adjusted EPS got here in at $0.53, a significant increase year-over-year.

The development mirrored continued securitization exercise, favorable contributions from earnings in unconsolidated entities, and a robust $0.16 per-share contribution from Longbridge, whereas the Company technique delivered a modest $0.04 per-share acquire regardless of a smaller portfolio and a difficult unfold surroundings.

E-book worth per share ended Q3 at $13.40, in contrast with $13.49 in Q2.

Click on right here to obtain our most up-to-date Positive Evaluation report on Ellington Monetary (EFC) (preview of web page 1 of three proven under):

Non-REIT Month-to-month Dividend Inventory #5: Oxford Sq. Capital (OXSQ)

• Anticipated Annual Return: 11.0%

Oxford Sq. Capital Corp. is a BDC (Enterprise Growth Firm) specializing in financing early- and middle-stage companies via loans and investments in collateralized mortgage obligations.

On the finish of Q3, the full truthful worth of Oxford Sq.’s funding portfolio was about $260.5 million throughout its debt, CLO fairness, and fairness/different holdings, allotted about 54.5% to senior secured debt, 43.5% to CLO fairness, and roughly 2% to fairness or different investments. Final 12 months, the BDC generated roughly $42.7 million in whole funding earnings.

On November sixth, 2025, Oxford Sq. Capital reported its Q3. The corporate generated roughly $10.2 million in whole funding earnings, primarily flat in contrast with $10.3 million in Q3 2024, as decrease said curiosity earnings from debt investments offset increased PIK earnings and stronger contributions from securitization autos.

The weighted common yield on debt investments elevated barely to 14.6% from 14.5% a 12 months earlier. The weighted common yield on CLO fairness investments stood at 9.7%, modestly increased than 9.6% in Q3 2024.

Complete bills have been about $4.7 million, in contrast with $4.2 million within the prior-year interval, primarily reflecting increased curiosity expense tied to the corporate’s excellent unsecured notes.

Web funding earnings (NII) got here in at $5.6 million, or $0.07 per share, versus $6.2 million, or $0.10 per share, in Q3 2024.

Click on right here to obtain our most up-to-date Positive Evaluation report on OXSQ (preview of web page 1 of three proven under):

Non-REIT Month-to-month Dividend Inventory #4: PennantPark Floating Price Capital (PFLT)

• Anticipated Annual Return: 11.3%

PennantPark Floating Price Capital Ltd. is a enterprise growth firm that seeks to make secondary direct, debt, fairness, and mortgage investments.

The fund additionally goals to take a position via floating fee loans in non-public or thinly traded or small market-cap, public center market firms, fairness securities, most popular inventory, widespread inventory, warrants or choices acquired in reference to debt investments or via direct investments.

On November 24, 2025, PennantPark Floating Price Capital Ltd. launched its fourth fiscal quarter and full 12 months 2025 monetary outcomes for the interval ended September 30, 2025.

For the quarter, PFLT reported core internet funding earnings of roughly $0.28 per share and a complete funding earnings close to $69.0 million, with income in keeping with analyst expectations, demonstrating regular underlying efficiency in its core lending enterprise.

The agency’s internet asset worth per share was reported round $10.83, modestly decrease than the prior quarter, reflecting market and portfolio valuation dynamics.

Portfolio property grew to roughly $2.77 billion, supported by robust origination exercise and a major three way partnership initiative that expanded lending capability.

Click on right here to obtain our most up-to-date Positive Evaluation report on PFLT (preview of web page 1 of three proven under):

Non-REIT Month-to-month Dividend Inventory #3: Saratoga Funding Corp. (SAR)

• Anticipated Annual Return: 12.7%

Saratoga Funding Corp is a enterprise growth firm (BDC) that gives custom-made debt and fairness financing to U.S. middle-market firms, specializing in earnings technology via predominantly senior credit score devices.

As of November thirtieth, 2025, the truthful worth of its funding portfolio was $1,016.0 million, excluding $169.6 million in money and money equivalents.

The portfolio composition by truthful worth was $852.5 million in first-lien time period loans (83.9%), $8.1 million in second-lien time period loans (0.80%), $16.3 million in unsecured loans (1.60%), $54.9 million in structured finance securities (5.40%), and $84.4 million in widespread fairness (8.3%).

SAR’s holdings span 39 distinct business classifications, with notable exposures in Healthcare Companies (largest single sector) at 9.7% of portfolio truthful worth, Structured Finance Securities at 7.3%, and Client Companies at 6.0%.

On January seventh, 2026, Saratoga Funding Corp. reported its fiscal Q3 2026 outcomes for the interval ending November thirtieth, 2025. Complete funding earnings declined 11.8% 12 months over 12 months to $31.6 million, reflecting decrease base charges and a smaller common portfolio following elevated repayments over the previous 12 months.

Web asset worth elevated to $413.2 million, or $25.59 per share, representing a 0.7% improve quarter over quarter. Web funding earnings was $9.8 million, or $0.61 per share, representing a 32% decline from $0.90 per share within the prior 12 months interval, resulting from decrease base rates of interest and a smaller common incomes asset base following elevated repayments over the previous 12 months.

Click on right here to obtain our most up-to-date Positive Evaluation report on SAR (preview of web page 1 of three proven under):

Non-REIT Month-to-month Dividend Inventory #2: Horizon Expertise Finance Corp. (HRZN)

• Anticipated Annual Return: 15.1%

Horizon Expertise Finance Corp. is a BDC that gives enterprise capital to small and medium–sized firms within the know-how, life sciences, and healthcare–IT sectors.

The corporate has generated enticing danger–adjusted returns via immediately originated senior secured loans and extra capital appreciation via warrants.

Horizon Expertise Finance Corp. is a BDC that gives enterprise capital to small and medium–sized firms within the know-how, life sciences, and healthcare–IT sectors.

On October twenty eighth, 2025, Horizon introduced its Q3 outcomes. For the quarter, whole funding earnings rose 6.9% year-over-year to $26.3 million, pushed primarily by increased price and curiosity earnings on investments from the debt portfolio.

The corporate’s dollar-weighted annualized yield on common debt investments in Q3 of 2025 and Q3 of 2024 was 18.6% and 15.9%, respectively.

Web funding earnings per share (IIS) remained flat year-over-year at $0.32. Web asset worth (NAV) per share improved to $7.12, up from $6.75 within the prior quarter, however this was down from $9.12 within the prior 12 months.

Horizon’s undistributed spillover earnings stood at $0.93 per share at quarter-end, sustaining a robust earnings cushion to help future dividends.

Click on right here to obtain our most up-to-date Positive Evaluation report on HRZN (preview of web page 1 of three proven under):

Non-REIT Month-to-month Dividend Inventory #1: PennantPark Funding Company (PNNT)

• Anticipated Annual Return: 15.5%

PennantPark Funding Company is a enterprise growth firm targeted on offering non-public credit score to U.S. core middle-market firms, sometimes with $10–$50 million of EBITDA, via primarily first-lien, senior secured loans.

As of September thirtieth, 2025, PNNT had a $1.3 billion funding portfolio throughout 166 firms, with a weighted common credit score unfold of 5.66%, median loan-to-value of 39%, median internet leverage of 4.5x, and a pair of.0x curiosity protection, reflecting a conservatively structured ebook.

The portfolio is closely skewed to senior secured credit score, with roughly about half in first-lien debt and the rest throughout subordinated debt, fairness co-investments, and three way partnership exposures, and solely 0.1% of the portfolio at truthful worth on non-accrual. PNNT pays dividends on a month-to-month foundation.

On November twenty fourth, 2025, PennantPark Funding reported its fiscal This fall outcomes for the fiscal 12 months ended September thirtieth, 2025. For the quarter, whole funding earnings declined 12 months over 12 months to $28.0 million, reflecting a smaller portfolio and a decrease weighted common yield on debt investments.

Web funding earnings was $9.8 million, or $0.15 per share, in contrast with $14.4 million, or $0.22 per share, within the prior 12 months interval, representing a 32% year-over-year decline in per-share earnings.

PennantPark reported a internet lower in internet property from operations of $1.0 million, or $(0.01) per share, in contrast with a internet improve of $18.4 million, or $0.28 per share, within the prior 12 months interval, resulting from realized losses on investments.

Web asset worth declined 6% 12 months over 12 months to $7.11 per share from $7.56, reflecting distributions and internet realized losses, partially offset by unrealized appreciation.

Click on right here to obtain our most up-to-date Positive Evaluation report on PNNT (preview of web page 1 of three proven under):

Additional Studying

In case you are inquisitive about discovering high-quality dividend progress shares and/or different high-yield securities and earnings securities, the next Positive Dividend assets can be helpful:

Month-to-month Dividend Inventory Particular person Safety Analysis

Different Positive Dividend Sources