How $30,000 Split Across Three TSX Stocks Can Generate $1,566 in Dividends

2026-05-13 16:00:00 ET

Splitting $30,000 across top dividend stocks with attractive yields can help you generate steady passive income for years. The strategy is to focus on TSX stocks with solid fundamentals , dependable cash flows, and sustainable dividend payments. Moreover, allocating capital across multiple sectors and industries can help protect your portfolio from company-specific or sector-specific downturns while ensuring a steadier income stream.

Against this background, here are three TSX stocks to generate steady dividends.

Dividend stock #1: SmartCentres REIT

SmartCentres REIT ( TSX:SRU.UN ) is one of the top TSX stocks to generate steady dividend  income. It distributes $0.154 per unit monthly, yielding 6.6%. The REIT’s durable payouts are supported by stable cash flow from its high-quality portfolio of retail and mixed-use properties located in prime markets.

Strong occupancy levels (97.6% at the end of the first quarter), steady leasing demand, and rising rental rates continue to support consistent net operating income (NOI) growth. In the first quarter of 2026, same-properties NOI increased 1.4% year over year, or 3.4% excluding anchor tenants, reflecting healthy leasing activity and improved occupancy across its portfolio.

The company also renewed about 80% of leases expiring in 2026, achieving rent growth of 11.5% excluding anchor tenants. At the same time, leasing momentum stayed strong with more than 55,000 square feet of vacant space filled during the quarter.

Beyond strength in its retail properties, SmartCentres is expanding its mixed-use developments, helping diversify revenue streams. Supported by a solid balance sheet and valuable land holdings, the REIT appears well-positioned to sustain its monthly distributions.

Dividend stock #2: TC Energy

TC Energy ( TSX:TRP ) is another compelling dividend stock. The company has a long track record of paying and growing dividends, supported by highly regulated and contracted assets. The company operates a vast natural gas transmission and storage network that connects low-cost supply regions with high-demand markets and LNG export hubs. This supports high asset utilization and dividend payments.

Notably, most of its earnings come from regulated assets and long-term take-or-pay contracts. This operating structure reduces exposure to commodity price volatility and makes revenue more predictable.

The company’s resilient business model and growing cash flow enabled it to increase its dividend for 26 consecutive years. With rising LNG exports, electrification trends, growing power demand from data centres, and a secured $23 billion capital program, the company appears well-positioned to generate reliable earnings, strengthen cash flow visibility, reduce debt gradually, and continue growing shareholder payouts.

Dividend Stock #3: BCE

BCE ( TSX:BCE ) could be a reliable addition to your portfolio for dividend income. The communications and media services giant has rewarded shareholders through consistent dividend payments. Notably, the company reduced its annual payout from $3.99 to $1.75 per share last year as rising competition, regulatory challenges, and higher operating costs pressured profitability. The move helped improve financial stability, protecting future payouts.

By lowering its dividend, BCE has redirected more cash toward debt reduction and balance sheet strengthening. Management is now targeting a dividend-payout ratio of 40% to 55% of free cash flow, a more sustainable range that could support reliable distributions over time. Even after the reduction, the stock still offers a dividend yield above 5.2%.

Looking ahead, BCE’s diversified operations, including wireless services, fibre broadband, AI-powered enterprise solutions, and media assets, position it for steady long-term growth. Its large customer base, network strength, and focus on improving margins and customer retention should help drive free cash flow and support consistent dividend payments in the years ahead.

Earn about $1,566 per year

SmartCentres REIT, TC Energy, and BCE are dependable dividend stocks. By splitting $30,000 across these stocks, you can generate over $1,566 in dividend income per year.

The post How $30,000 Split Across Three TSX Stocks Can Generate $1,566 in Dividends appeared first on The Motley Fool Canada .

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends SmartCentres Real Estate Investment Trust. The Motley Fool has a disclosure policy .

2026