Most companies pay dividends quarterly and that can lead to some lumpiness in an investor's income stream. Those desiring relatively consistent monthly dividend income would need to seek out companies paying on offsetting quarterly schedules, which would take some work to set up.

On the other hand, monthly dividend stocks make it easy to earn consistent passive income each month. Agree Realty (NYSE: ADC), EPR Properties (NYSE: EPR), Gladstone Land (NASDAQ: LAND), Realty Income (NYSE: O), and Stag Industrial (NYSE: STAG) stand out as great options among monthly payers. They offer attractive dividends currently yielding more than 3% that should increase over time, making them ideal for passive income seekers.

Agree Realty currently has a 4.4% dividend yield. At that rate, it would turn a $1,000 investment into $3.67 of dividend income each month ($44 annually). That's roughly three times the dividend income that an investor would earn in an S&P 500 index fund, given its current yield of around 1.5%. 

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Source Fool.com