High-yield dividend stocks are attractive investments for generating passive income. However, it is important not to focus solely on yield. Dividends are never guaranteed, and an unusually high yield can sometimes signal underlying business challenges or an unsustainable payout.
Investors should consider TSX stocks with a proven track record of paying dividends consistently, even during periods of economic stress. Firms with strong fundamentals, resilient earnings, and disciplined payout policies are far better positioned to maintain and potentially grow their distributions over time.
So if you want at least a 6% yield, here are three TSX-listed stocks to buy today.
High-yield dividend stock #1: Enbridge
Enbridge (TSX:ENB) is one of the most reliable high-yield dividend stocks to buy now. The company operates an extensive energy infrastructure network that links major supply and demand hubs, keeping its pipeline system highly utilized and its cash flows predictable.
Moreover, its diversified revenue streams and long-term commercial agreements, many of which are regulated or structured on a take-or-pay basis, add resilience to its business and limit its exposure to commodity price swings. In addition, much of its EBITDA benefits from built-in inflation protection.
This durable model has enabled Enbridge to consistently deliver higher earnings and distributable cash flow (DCF) per share, supporting higher dividend payments. Notably, Enbridge has raised its dividend for 31 consecutive years. Based on its January 14 closing price of $64.66, the stock yields more than 6%. Moreover, management targets a payout of 60% to 70% of DCF, balancing shareholder returns with funding for future growth.
Looking ahead, high system utilization, its expanding utility asset base, growing renewable portfolio, and rising AI-driven energy demand position Enbridge to continue generating reliable cash flow, supporting its payouts.
High-yield dividend stock #2: Whitecap Resources
Whitecap Resources (TSX:WCP) is another reliable high-yield dividend stock to buy now. The oil and gas company consistently rewards its shareholders through consistent monthly dividend payments. It currently offers a monthly dividend of $0.061 per share, yielding about 6.3%. Notably, from January 2013 to December 2025, WCP has returned approximately $3 billion to shareholders through dividends.
Whitecap supports its base dividend with a conservative payout ratio of 20–25%, leaving room for reinvestment and future increases as the business expands. Ongoing efforts to improve operational efficiency, optimize drilling performance, and maintain disciplined capital spending should support earnings growth and dividend sustainability.
Whitecap’s diversified asset base, low leverage, and large inventory of high-quality drilling locations provide a solid foundation for long-term growth. Moreover, the recent acquisition of Veren adds scale and premium assets, further strengthening cash flow potential and supporting future payouts.
High-yield dividend stock #3: SmartCentres REIT
SmartCentres REIT (TSX:SRU.UN) is a dependable high-yield dividend stock. It has been steadily paying monthly dividends regardless of the economic situation. The REIT distributes a monthly dividend of $0.154 per unit, yielding 6.8%.
The REIT’s payouts are supported by its high-quality assets, which consistently generate strong net operating income. Notably, SmartCentres’ real estate portfolio is located in prime locations. This geographic advantage drives leasing and renewals, supporting higher rental income, customer retention, and steady payouts.
The REIT reported a high occupancy rate 98.6% during the last reported quarter. This shows the strong demand for its properties. Further, it has been renewing its contracts with a higher rental spread. Also, its high-quality tenant base, mostly large retailers, drive higher rent collection.
The ongoing strength of its retail portfolio, a solid mixed-use development pipeline, and a large land bank well position the REIT to sustain its payouts going forward.
