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GOOD

Monthly Paychecks, Monster Yields up to 13.5%

April 17, 2026 — 09:30 am EDT

Written by

BNK Invest for

BNK Invest->

In three charts, we'll show why monthly dividends are superior to even blue-chip payers. Plus, we'll discuss five monthlies that yield between 9.7% and 13.5%.

First, let's talk about monthly dividend timing. Check out what our monthly cash flow looks like if we invest in five of the market's largest dividend-paying companies. These are five of the S&P 500's biggest holdings, and we can find them in just about every major large-cap fund:

Source: Income Calendar

The good news? Every three months, we cash a dividend check.

The bad news? That harvest is followed by two months of crickets.

Let's compare that dividend calendar with the projections for my five-pack of monthly payers.

Source: Income Calendar

We can retire on dividends with this type of schedule.

Look at the bottom-right figures, too. Check out that yield gap. It's not subtle.

It's not unusual, either. If you're holding investments that pay monthly, chances are they yield many times more than the broader market. In fact, my final graphic shows not only that's true, but that my five-pack of monthly payers even offers well more than double the yield of the more respectable S&P 500 High Dividend Index.

Source: S&P Global Market Intelligence

Why the fat yields? Monthly payers tend to cluster in the high-yield corners of the market that many investors never bother to explore, like real estate investment trusts (REITs), business development companies (BDCs), and closed-end funds (CEFs).

Here's the beauty of it: REITs, BDCs and CEFs cover enough ground that we can build a genuinely diversified monthly-income portfolio without ever leaving their ZIP codes. Just consider this five-pack of 9.7% to 13.5% yielders that pay us every 30 days or so.

Gladstone Commercial (GOOD)

Dividend Yield: 9.7%

I'll start with a traditional equity REIT, Gladstone Commercial (GOOD). This landlord owns 151 single-tenant and anchored multi-tenant net-leased properties, leased out to 109 unique tenants, typically in long-term contracts of seven years or longer.

Occupancy is high, at 99.1% as of the end of 2025, but that's carried by its industrial tenants, which boast a sparkling 99.8% occupancy. The office portfolio is around 94%--not great, but up a couple points from spring 2025.

It's also a lesser worry by the year. Several mixed-property REITs have been selling off their office property ever since COVID blasted that part of the real estate market, but Gladstone's slow migration away predates the pandemic.

Source: Gladstone Commercial March 2026 Investor Presentation

The biggest headline out of Gladstone lately is founder David Gladstone's exit from the CEO chair. In fact, he's handing over the reins not just at GOOD, but also at two BDCs he founded--Gladstone Capital (GLAD) and Gladstone Investment (GAIN). In reality, it's a nothingburger for now. At GOOD, David will be succeeded by Arthur Cooper, who has been with the Gladstone family of companies since 2001 and Gladstone Commercial's president since 2022. Meanwhile, David will still be chairman, CEO and president of Gladstone Management Corporation, GOOD's external manager.

Shares have soared so far in 2026, but it might just be a bounce off a bottom--GOOD is still 30% below late 2024 levels. So the company needs some shaking up, but there are no immediate catalysts on the horizon. Gladstone didn't make a single acquisition during its fourth quarter. But GOOD has done a decent job of repositioning its balance sheet, including making an $85 million private placement debt issuance in December. That could give it some room for dealmaking in the year ahead.

GOOD is now three years removed from a 20% cut to its monthly dividend, to the current 10 cents per share. But the company still pays a sweet yield of nearly 10%, and that dividend is at least covered for now, at a little less than 90% of core funds from operations (FFO, an important REIT metric of profitability and dividend health). But there's not much fuel remaining for dividend growth, either.

Trinity Capital (TRIN)

Dividend Yield: 13.1%

GOOD's nearly double-digit yield is a relative rarity among equity REITs. But life-changing yields are the norm for BDCs like Trinity Capital (TRIN).

Trinity is among the more growth-focused BDCs out there. Its bleeding-edge portfolio includes companies such as quantum computing leader Rigetti Computing (RGTI), emergent hair color startup Madison Reed and automotive industry AI operating system maker Impel.

And as you can see, Trinity's breadth extends past it