Invest $30,000 in 3 Stocks for $1,481 in Passive Income

A $30,000 basket split across RioCan, North West, and Pizza Pizza could throw off about $1,481 yearly, but the income comes with very different risks.

Key Points
  • RioCan’s monthly payout looks better supported as occupancy and same-property NOI stay strong, though rates still matter.
  • North West offers steadier essential-retail income, but remote logistics and cost pressures can squeeze results.
  • Pizza Pizza has the biggest yield, yet weaker same-store sales make it the riskiest dividend in the trio.

Earnings season gets the headlines, but dividends do the heavy lifting. A $30,000 portfolio split evenly across RioCan Real Estate Investment Trust (TSX: REI.UN), North West Company (TSX: NWC), and Pizza Pizza Royalty (TSX: PZA) could generate about $1,481 in annual passive income right now, based on current forward yields. That’s not life-changing money on its own. But it’s a useful reminder. Investors don’t need to chase the hottest growth stock to see cash show up through the year.

Close-up of people hands taking slices of pepperoni pizza from wooden board.

Source: Getty Images

REI

RioCan looks relevant now because investors still want income, but rate cuts have not erased caution around real estate. The dividend stock owns major retail-focused properties across Canada, with a tilt toward necessity shopping, mixed-use sites, and urban locations.

The recent business picture looks stronger than the old “rates crushed real estate” story suggests. RioCan reported 4.7% commercial same-property net operating income growth in the first quarter of 2026 and reaffirmed its full-year core funds from operations outlook. That gives the payout a better backdrop. Still, risks remain. Higher borrowing costs, slower leasing, or pressure on consumers could weigh on units. Yet for investors seeking monthly income from Canadian real estate, RioCan still deserves a look.

NWC

North West Company adds something different. It’s not flashy, but that’s part of the appeal. The dividend stock operates stores in northern Canada, Alaska, the Caribbean, and other hard-to-serve markets. Many of its communities rely on it for food, household goods, and everyday essentials.

North West’s yield may look modest beside higher-income names, but investors should not dismiss it. The business raised its dividend over time and keeps a more conservative payout profile than many stocks. Its latest annual results showed some pressure, including weaker Canadian operations and lower quarterly earnings, but international strength helped offset the damage. The risk is valuation and execution. Remote retail can face high costs, weather disruptions, and supply-chain challenges. Even so, North West offers a steadier income stream tied to essential spending.

PZA

Pizza Pizza Royalty brings the highest yield of the three, but also the loudest warning label. The dividend stock collects royalties from the Pizza Pizza and Pizza 73 restaurant networks. It does not run the restaurants directly. Instead, it gives investors exposure to brand sales and cash distributions.

Investors should pay attention to that cut. First-quarter same-store sales fell 4.1%, royalty pool sales declined 3.6%, and adjusted earnings per share dropped 6.1%. Management still has growth levers, including new locations and menu efforts. But investors should treat Pizza Pizza as the higher-risk income pick here, not the safest.

Bottom line

Put together, this three-stock basket offers roughly $1,481 in passive income from $30,000, split across real estate, essential retail, and restaurants.

COMPANYRECENT PRICENUMBER OF SHARESANNUAL DIVIDENDANNUAL TOTAL PAYOUTFREQUENCYTOTAL INVESTMENT
PZA$12.70787$0.81$637.47Monthly$9,994.90
NWC$51.54194$1.64$318.16Quarterly$9,998.76
REI.UN$22.07453$1.16$525.48Monthly$9,997.71

The mix is not perfect. Pizza Pizza needs a rebound, RioCan remains sensitive to rates, and North West must keep costs under control. But for investors who want income with different business drivers, this trio of dividend stocks could make a useful watchlist for the next market pullback, especially if prices give them a better entry.

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends North West. The Motley Fool has a disclosure policy.

More on Dividend Stocks

Happy shoppers look at a cellphone.
Dividend Stocks

This Stock Pays a 5.6% Dividend Every Single Month: It Could Cover Your Phone Bill

RioCan pays a dividend every single month. See how its 5.6% yield could generate enough income to cover a $70…

Read more »

telecom towers concept for wireless technology
Dividend Stocks

Telus Stock: Buy, Sell, or Hold in Late 2026?

Telus stock is down 65% and just slashed its dividend by 55%. Here's what the new CEO's turnaround plan could…

Read more »

dividends can compound over time
Dividend Stocks

TFSA Passive Income: 2 TSX Dividend Stocks to Own for Decades

These companies have increased their dividends annually for decades.

Read more »

dividends grow over time
Dividend Stocks

3 Top Canadian Stocks for Income and Growth

With solid businesses, reliable financials, consistent dividends, and healthy growth prospects, these three Canadian stocks can deliver meaningful capital gains…

Read more »

Couple working on laptops at home and fist bumping
Dividend Stocks

The “Set It and Mostly Forget It” Dividend Stock

Fortis could be the dividend stock for investors who prefer a steady business and regular income without watching every market…

Read more »

Canadian Dollars bills
Dividend Stocks

How I’d Create $238 in Monthly TFSA Income With $100,000 Invested

Vanguard FTSE Canadian High Yield ETF (TSX:VDY) pays dividends every month.

Read more »

concept of real estate evaluation
Dividend Stocks

Imagine Part of Your Mortgage Payment Coming From Dividends Instead of Your Paycheque

The mortgage is usually the biggest bill Canadians pay each month. With the right TSX dividend stocks, part of it…

Read more »

pregnant mother juggles work and childcare
Dividend Stocks

I’m Locking These 3 Dividend Stocks Into My TFSA for the Long Run

Here are three top dividend stocks that could be excellent additions to your TFSA.

Read more »