Easy Extra Money Idea of the Day:
I have already spoken about the virtues of monthly dividend stocks with my favorite monthly dividend stock Realty Income Corporation (O). My 2nd favorite monthly dividend stock is Main Street Capital Corporation (MAIN) for a number of reasons.
MAIN is a core monthly dividend stock in my dividend portfolio. I really enjoy monthly dividends for their compounding power and this stock has been paying steady monthly dividends since late 2008. Most monthly dividend stocks are REITs however MAIN is a business development company (BDC) which helps diversify your holdings. As an added bonus, MAIN normally pays 2 special dividend bonuses a year (June and December)!
- MAIN is a business development company specializing in long-term equity and debt investments in small and lower middle market companies
- Founded in 1997 and based in Houston, Texas
- Dividend Payout Schedule: Monthly
Note that while MAIN is not a REIT (Real Estate Investment Trust), for tax purposes, its dividends are still treated as ordinary income and taxed at a higher rate. So it may be better suited for an IRA (instead of a taxable account).
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