Thursday, July 24, 2008

Top Monthly Dividend Stocks for July

There are over 340 different stocks that pay their dividends monthly, according to an Excel downloadable database at, and was recently updated with the latest yields. For purposes of this article, closed end funds [CEF’s], REIT’s, and oil income trusts are considered stocks. Many investors like the monthly payments because of the lower volatility of the stock and the acceleration of the return of capital.

One of the highest yielding monthly payers is the Boulder Growth & Income Fund (BIF), a closed end fund which invests in real estate investment trusts and other equities. They have been paying monthly dividends since 1988. The stock has a PE of 7 and a yield of 18.5%.

The top yielding Canadian company is Harvest Energy Trust (HTE) which yields 16.8%. They explore for and produce petroleum and natural gas in western Canada. They have a forward PE of 10.

The highest yielding REIT exchange trade fund is LMP Real Estate Income Fund Inc (RIT), which pays a yield of 16%. It invests in various real estate stocks including real estate investment trusts. The stock has a PE of 11.

One of the top yielding equity and growth funds is the Alpine Global Dynamic Dividend Fund (AGD), yielding 14.6%. Their goal is to look for stocks with the potential for dividend increases and capital appreciation.

The highest yielding United States based oil royalty trust is Cross Timbers Royalty Trust (CRT), which yields 14%. They own interests in properties in Texas, Oklahoma, and New Mexico. The stock has a PEG of 14.

The top yielding convertible bond fund is the Calamos Convertible Opportunities & Income Fund (CHI), which yields 12.5%. They invest in bonds of companies involved in the consumer goods, bank and financial, oil and gas, consumer staples, technology, industrials, healthcare, telecom, and utilities industries.

The highest yielding tax advantaged stock is the Pioneer Municipal and Equity Income Trust (PBF) which yields 11.2%. It invests in both stocks and municipal bonds.

The has just updated its Excel database list of over 340 different monthly dividend stocks, which can be downloaded, changed, and sorted.

Dividends are subject to reduction or elimination at any time.

Author does not own any of the above.

By Fred Fuld at

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