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These monthly dividend stocks will put cash in your pocket EVERY single month in 2024 to make sure you have money to pay the bills. I'll take you through each stock to buy along with some of the weirdest ways to spend those monthly dividends!

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While each of these stocks and funds pay a monthly dividend, remember when you see a percentage dividend yield for a stock…that is always a yearly percentage. For example, we saw that JEPI pays a dividend yield of 10.6% that means the twelve monthly dividend payments together or $5.85 in this case is 10.6% of the stock price. That’s $5.86 divided by the stock price of $55.19 per share.

But that annual dividend is paid out over twelve months. Most dividend stocks try to pay equal amounts each month so investors can plan it around their needs but some, like the JEPI fund…well you get what the fund is able to pay out.

What does all this mean? Well if you want your dividend stocks to pay the bills, you’ll need to do a little planning. You can find how much you need to invest by dividing the amount you need by the dividend yield . For example, to pay for our $45 in I love you tuna with the 10.6% dividend yield fund…we divided $45 by 0.106 for $425.

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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.

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