How $30,000 Split Across Three TSX Stocks Can Generate $1,705 in Dividends

A $30,000 investment split across three top dividend stocks with attractive yields can help generate steady passive income for years. Investors should consider TSX stocks with strong fundamentals and sustainable payouts for generating worry-free income. Diversification across multiple sectors further strengthens the portfolio by mitigating concentration risk and enhancing income stability.

Against that backdrop, here are three TSX stocks that you can buy today with $30,000. At current market prices, a $30,000 investment distributed among these companies could yield approximately $1,688 in annual dividend income.

Dividend stock #1: Enbridge

Enbridge (TSX: ENB) is one of the most reliable TSX stocks to generate consistent dividend income. It operates an extensive energy infrastructure network that links major supply and demand hubs, driving high asset utilization and supporting distributable cash flow (DCF).

Enbridge’s diversified revenue sources help reduce volatility and drive steady DCF growth. Further, Enbridge’s earnings are relatively insulated from commodity price swings, and the majority of its earnings stem from regulated assets or long-term, take-or-pay contracts. In addition, about 80% of earnings are protected from inflation. This operating structure ensures steady cash flow and drives dividend distributions.

Notably, Enbridge has raised dividends for 31 consecutive years at an impressive 9% compound annual rate. Currently, it offers a dividend yield of over 5.3%.

With a targeted payout ratio of 60–70% of DCF, Enbridge aims to sustain dividends while delivering mid-single-digit growth in the years ahead. Also, its expanding utility asset base, growing renewable portfolio, and rising artificial intelligence (AI)-driven energy demand position it well to keep generating reliable cash flow, supporting higher payouts.

Dividend stock #2: 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 solid net operating income. Notably, SmartCentres’ real estate portfolio is located in prime locations. This geographic advantage drives steady leasing demand and higher renewals, supporting higher customer retention and consistent payouts.

Thanks to the robust tenant demand across its portfolio, the REIT reports high occupancy. For instance, its occupancy stood at 98.6% at the end of the last reported quarter. Also, its high-quality tenant base, mostly large retailers, drives higher rent collection.

Looking ahead, the ongoing strength of its retail portfolio, a solid mixed-use development pipeline, and a large land bank position the REIT to sustain its monthly dividend.

Dividend Stock #3: BCE

BCE (TSX: BCE) stock could be another solid addition to your income portfolio. The company, one of Canada’s leading communications and media service providers, reduced its annualized dividend from $3.99 to $1.75 per share last year after a prolonged period of consistent increases.

This decision followed mounting pressure from heightened competition, regulatory challenges, and rising operating costs. While the reduction marked a significant shift, it reflects a strategic effort to improve the sustainability of its dividend policy.

By lowering its dividend, BCE has been able to retain a greater share of its cash flow, enabling it to prioritize debt reduction and strengthen its balance sheet. Management now targets a payout ratio of 40% to 55% of free cash flow, a range that appears more sustainable over the long term. Despite the adjustment, the stock continues to offer an attractive dividend yield of approximately 4.9%, which appeals to income investors.

Looking ahead, BCE is positioned to benefit from its diversified revenue base, which includes wireless services, fibre broadband, AI-driven enterprise solutions, and media operations. The company’s focus on margin improvement and customer retention, combined with its broad service offerings, is expected to support growth in free cash flow. This, in turn, should drive consistent dividend payments and enhance BCE’s prospects for long-term growth.

Earn over $1,705 per year with these 3 TSX stocks

Consider a $30,000 investment divided equally between Enbridge, SmartCentres REIT, and BCE. Allocating $10,000 to each company will generate over $1,705 per year.