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Only 6% of dividend payers offer monthly payouts, as opposed to the more common quarterly or annual payments, which may not meet immediate monthly expenses. The Contrarian Income Report identifies 19 monthly payers with an average yield of 9.1%, allowing investors to generate monthly passive income to cover bills.
For example, the DoubleLine Income Solutions Fund (DSL) yields 11.8%, providing $983.33 in monthly income for a $100,000 investment. Since its addition to the portfolio in April 2016, DSL has delivered 115 monthly dividends totaling $15.71 per share, equating to 92% of the initial investment returned in payouts.
Investors seeking to diversify their portfolios can consider spreading their investments among various solid monthly payers to achieve a consistent income stream, as income from these dividends could sufficiently cover recurring monthly expenses.
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