Buying and holding high-yield dividend stocks can enhance the income potential of your portfolio. The key, however, is to focus on companies with strong fundamentals, consistent profitability, and a proven track record of maintaining reliable dividend payouts across market cycles. These Canadian stocks are built to hold for 10 years or more, thanks to their durable payouts.
With that in mind, here are two Canadian dividend stocks offering high yields of over 6% worth owning for the next 10 years.
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High-yield dividend stock #1: SmartCentres REIT
SmartCentres REIT (TSX: SRU.UN) is a dependable high-yield dividend stock to hold for the next 10 years or more. The real estate investment trust (REIT) distributes $0.154 per unit per month, yielding about 6.4% annually.
Its dividend is supported by resilient cash flow generated from a high-quality portfolio of retail and mixed-use properties located in prime markets. These strategic locations help maintain high occupancy levels, drive consistent leasing demand, and secure higher rents during renewals.
That strength is already showing up in the numbers. In the first quarter of 2026, SmartCentres reported an impressive 97.6% occupancy rate, while rent collection remained near 99%. Leasing momentum also stayed strong, with renewal rental rates climbing 11.5% excluding anchor tenants. Meanwhile, same-property net operating income (NOI) increased 3.4%, supported by stable tenant demand, rising base rents, and healthy customer traffic across its retail portfolio.
Another key advantage is the REIT’s financially strong tenant base, which helps ensure dependable rent collection even during periods of economic uncertainty. That stability lowers counterparty risk and strengthens the reliability of its monthly distributions.
Beyond its core retail operations, SmartCentres is also building future growth engines through an expanding pipeline of mixed-use and residential developments. This diversification strategy could unlock additional long-term revenue streams while reducing reliance on traditional retail income alone.
Importantly, the REIT’s solid balance sheet and a large underutilized landbank provide additional flexibility for future expansion. Its ongoing retail intensification and development projects are expected to support higher funds from operations (FFO) over time, strengthening the sustainability of its distributions.
High-yield dividend stock #2: Firm Capital
Firm Capital Mortgage Investment Corporation (TSX: FC) is an attractive high-yield dividend stock for long-term income investors. The company specializes in short-term residential and commercial real estate lending through its mortgage banking platform, offering financing solutions that include construction loans, bridge financing, mezzanine debt, and equity investments.
Firm Capital focuses on short-duration, lower-risk loans that are often overlooked by traditional lenders. This strategy has helped it generate reliable cash flow across varying market conditions.
It has an exceptional dividend track record. Firm Capital has paid uninterrupted monthly dividends since 2013, making it a dependable option for passive-income portfolios. Currently, the company pays a $0.078-per-share dividend, yielding more than 7.8%. On top of that, shareholders have also benefited from special year-end dividends, boosting total income.
The company’s payout stability is supported by a diversified mortgage portfolio with exposure to resilient real estate segments, including residential construction and land development. In addition, recurring lending fees and predictable interest income provide a solid foundation for sustaining its high yield.
