Passive-Income Power: How to Make Over $105/Week in a Choppy Market

Investors looking to generate big passive income in a rough market should look to stocks like Keyera Corp. (TSX:KEY) and others in late April.

Ambrose O'Callaghan

Ambrose O'Callaghan graduated with a BA in Political Science from McMaster University. After that, he jumped into the banking world. He worked from the front line to an investment associate role. After that, he found a way to marry his experience and knowledge in the world of banking and finance to his love and passion for writing. Ambrose is a passionate believer in Warren Buffett's value investing model.

Published April 26, 2022 2:30 pm EDT

All the way back in 2020, I’d looked at some of the best ways to build passive income in Canada. One of the simpler ways is to snag dividend stocks on the TSX. Today, I want to discuss how Canadians can look to generate weekly income of over $105 in an increasingly volatile market. We are going to take a hint from previous hypotheticals and keep our passive-income portfolio in a TFSA. That gives us $81,500 of cumulative room to work with. Let’s jump in.

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This super monthly dividend stock is worth targeting as markets battle volatility

Timbercreek Financial (TSX: TF) is a Toronto-based company that provides shorter-duration structured financing solutions to commercial real estate investors in Canada. Shares of this TSX stock have dropped 2.1% in 2022 at the time of this writing. It closed at a price of $9.43 on April 25.

In the fourth quarter of 2021, net investment income rose marginally to $22.4 million. Meanwhile, adjusted distributable income was reported at $16.2 million — up from $14.6 million in the previous year. Adjusted distributable income per share increased marginally to $0.20.

I’d look to snag 2,880 shares of Timbercreek in this hypothetical for a purchase price of $27,158.40. Timbercreek currently offers a monthly dividend of $0.058 per share, which represents a monster 7.3% yield. That means these holdings will allow us to generate weekly passive income of $38.54 going forward.

Here’s a REIT that can add punch to your passive-income portfolio

BTB REIT (TSX: BTB.UN) is a Montreal-based real estate investment trust (REIT) that owns and manages properties in eastern and western Canada. This REIT has jumped 5.1% in the year-to-date period. This has represented most of its gains over the last year.

Investors can expect to see its first-quarter 2022 results in early May. In 2021, Recurring funds from operations rose to $0.385 for the full year — up from $0.35 in 2020. Meanwhile, its total asset value reached $1.1 billion.

This REIT closed at $4.25 per share on April 25. We can pick up 6,400 shares of BTB REIT for a total purchase price of $27,200. It offers a monthly distribution of $0.025 per share. That represents a 7% yield. This means that investors can generate weekly income of $36.92 in their TFSA.

One more stock that offers mouth-watering passive income right now

Keyera (TSX: KEY) is the third dividend stock I’d look to snatch up to bolster your passive-income portfolio in late April. This Calgary-based company is engaged in the energy infrastructure business. Its shares have jumped 10% so far in 2022.

The company delivered net earnings of $324 million, or $1.47 per share in 2021 — up from $62.0 million, or $0.28, in the previous year. Meanwhile, its adjusted EBITDA climbed to $955 million compared to $873 million in 2020.

Keyera closed at $31.63 per share on April 25. TFSA investors can snatch up 855 shares for a total price of $27,043.65. This dividend stock last paid out a monthly distribution of $0.16 per share, representing a tasty 6% yield. That means we can generate weekly income of $31.56.

Conclusion

Investors will be able to churn out weekly passive income of $107.02 in their TFSA. This tax-free income could be a nice boon, especially in a choppy market.