The 7% Dividend Stock Paying Cash Every 30 Days

For investors seeking to strengthen the income side of their portfolios, monthly dividend stocks with high yields can be a solid option. These TSX stocks distribute dividends every 30 days, providing cash flow that can be reinvested more frequently or used to cover short-term expenses.

This regular flow of income allows investors to compound their returns faster by putting their money back to work sooner. However, while the allure of a high yield is tempting, it’s important to look beyond only the yield. The company’s financial stability, its track record of consistent dividend payments, and its capacity to sustain those payouts over the long term are all key factors to consider.

With that balance of risk and reward in mind, here is a dividend stock that pays cash every 30 days and offers a yield of approximately 7%.

An attractive TSX stock with a 7% yield and monthly payouts

While only a handful of TSX stocks pay cash every 30 days, SmartCentres REIT (TSX:SRU.UN) stands out for its steady payouts in all market conditions. The monthly distributions of this Canadian real estate investment trust (REIT) are supported by its diversified portfolio of resilient real estate properties, which generates steady same-property net operating income (NOI).

The trust owns 197 strategically located mixed-use properties, most of which sit at key intersections close to where a majority of Canadians live and shop. This geographic advantage ensures a strong flow of foot traffic, which in turn supports a consistently high occupancy rate and sustained leasing demand.

SmartCentres benefits from the strength in its core retail properties and solid tenant mix, which includes established national retailers that remain relatively immune during economic slowdowns. Moreover, these tenants draw consistent consumer traffic, drive occupancy and leasing demand, and provide reliable rent collection, helping to safeguard the trust’s income base.

Moreover, SmartCentres has also been expanding into mixed-use developments, adding residential and office components to its holdings. This helps diversify its revenue streams and enhances the long-term durability of its cash flows.

Currently, SmartCentres REIT pays $0.154 per unit every 30 days, resulting in an attractive yield of approximately 7%.

Here’s why SmartCentres could maintain its payouts

SmartCentres REIT appears well-positioned to sustain its monthly distributions over the long term. The trust continues to strengthen its core retail portfolio by focusing on attracting high-quality tenants, improving its overall tenant mix, and expanding within existing properties. This strategy will help generate predictable cash flows, enabling it to maintain consistent dividend payouts.

SmartCentres REIT’s operating metrics remain solid. As of the second quarter of 2025, the REIT reported an in-place and committed occupancy rate of 98.6%. Further, rent collections exceeded 99%. Moreover, it has extended lease agreements at higher rents, indicating strong leasing demand for its properties that will help generate incremental income.

SmartCentres is accelerating its mixed-use development initiatives. This diversification enhances the REIT’s long-term earnings potential and positions it to benefit from evolving urban and consumer trends. Furthermore, its strong balance sheet and a large, underutilized land bank offer substantial growth potential.

Earn $154 every 30 days

SmartCentres REIT’s solid tenant base, high occupancy, consistent rent collection, and strategic portfolio enhancement suggest that it is well-equipped to deliver stable distributions in the years ahead. If you buy 1,000 shares of this high-yield REIT, you’d get $154 in passive income every 30 days.