Retirees living off portfolio income don’t get to sync their grocery bills, utility payments, and Medicare premiums to a quarterly calendar. Monthly dividend payers solve that mismatch. With the Fed funds upper bound holding at 3.75% since December 2025 and the 10-year Treasury sitting at 4.72% as of August 10, income seekers face a real choice between risk-free bonds and dividend equities that can grow with inflation. The five names below all pay every month, all trade on US exchanges, and each just reported Q2 2026 results that inform how safe the next 12 checks look.
A quick structural note: the four REITs here (O, ADC, STAG, LTC) are pass-through entities required to distribute at least 90% of taxable income, and Main Street Capital is a Business Development Company (BDC) subject to the same 90% rule. All issue standard 1099s, not K-1s.
Realty Income (O)
Realty Income (NYSE:O | O Price Prediction) is the benchmark monthly payer. Q2 2026 delivered revenue of $1.55B, up 9.7% year over year, and AFFO per share of $1.09, up 3.8%. Management raised full-year AFFO guidance to $4.44 to $4.45 and lifted 2026 investment volume guidance to $10.0B, aided by a newly announced $6B hyperscale data center joint venture. Portfolio occupancy sits at 98.8%, and the company just declared its 115th consecutive quarterly dividend increase, extending a streak of 670 straight monthly payouts.
The August 14, 2026 payment of $0.271 per share annualizes to $3.252, a yield near 5% on the $61.89 close on August 11. Shares are up 13.14% year to date. Risk to flag: Net Debt/EBITDAre ticked up to 5.4x from 5.2x, and non-investment-grade tenants still make up the majority of ABR.
Agree Realty (ADC)
Agree Realty (NYSE:ADC) is a net-lease retail REIT skewed toward investment-grade tenants. Q2 2026 revenue was $205.1M, up 16.85% year over year, with AFFO per share of $1.14, up 7.4%. CEO Joey Agree called it "the most active investment quarter and first half in Company history," backed by record Q2 investment of roughly $502M at a 7.0% cap rate. Portfolio occupancy is 99.8%, and 73.2% of ABR comes from investment-grade tenants, an unusually high figure for the sector.
The July monthly dividend of $0.267 pays August 14 and represents a 4.3% year-over-year increase. Shares closed at $73.39, up 4.4% YTD but down 5.53% over the past month. Risk: interest expense jumped to $40.3M from $32.3M, and the quarter included a $5.9M impairment provision.
STAG Industrial (STAG)
STAG Industrial (NYSE:STAG) owns single-tenant warehouses across the US, giving retirees exposure to logistics and e-commerce infrastructure. Q2 marked the fourth consecutive EPS beat, with revenue of $224.37M (+8.08%) and Core FFO per share of $0.65 (+3.2%). New lease cash rent change was a striking +19.8%, and same-store cash NOI grew 3.4%. CEO Bill Crooker said "STAG enters the back half of 2026 with an active pipeline, a fortified balance sheet, and clear momentum."
The forward dividend of $1.518 yields around 4% on the $36.74 close. Analyst target price is $42.08. Trailing P/E is 28x. Risk: interest expense rose to $37.5M from $33.6M, and total portfolio occupancy slipped to 94.5%.
Main Street Capital (MAIN)
Main Street Capital (NYSE:MAIN) is a Houston-based BDC lending to lower-middle-market businesses. Q2 2026 produced adjusted EPS of $1.04, beating the $0.96 estimate, an annualized ROE of 18.9%, and NAV per share of $33.92, up $0.46 sequentially. Non-accruals held at 1.1% of the portfolio at fair value, and a $46.4M realized gain on Centre Technologies boosted results.
Retirees get a stacked income stream: regular monthly dividends of $0.265 through Q3, rising to $0.265 in Q4, plus a 20th consecutive supplemental of $0.30 paid in September. Shares closed at $59.03, up 12.22% over the past month. Risk: total investment income fell 15.7% year over year, and continued benchmark rate cuts would pressure floating-rate income.
LTC Properties (LTC)
LTC Properties (NYSE:LTC) is a healthcare REIT reinventing itself around seniors housing operations (SHOP). Q2 2026 revenue jumped 64.11% year over year to $98.86M, and Core FFO per share of $0.68 blew past the $0.44 estimate. SHOP now covers 39 communities across 12 operators, and CEO Pam Kessler laid out a "pathway to 75% by end of 2028" for SHOP’s share of NOI. Management narrowed 2026 Core FFO guidance to $2.76 to $2.78.
The $0.19 monthly dividend has been steady for years, giving a forward yield near 5.72% on the $38.11 close. Shares are up 14.79% YTD. EPS runs at $2.77, keeping the payout well covered. Risk: skilled nursing still accounts for 33% of exposure, and the SHOP transition carries operator execution risk.
What to watch next: if the Fed resumes cutting later this year, spreads on the BDC portfolio at Main Street Capital could compress even as REIT financing costs ease. That trade-off will determine whether income keeps compounding at the pace retirees need.
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