Buying a stock with monthly dividend rather than a quarterly payout has an added advantage: you can multiply your income faster by more frequently reinvesting in the company’s stock.
It works exactly the same way as compounding works in an interest-paying bank account, where you can multiply your income by reinvesting your profit. 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.
If you’re looking for a stable monthly income from your stock investing, here are the seven top monthly dividend stocks.
