High-yield dividend stocks are an attractive investment to diversify your portfolio and generate steady income. However, not every high-yield stock is worth holding for the long haul. The best ones offer compelling yields backed by companies with resilient business models, strong fundamentals, the ability to generate profitable growth, and a proven history of rewarding shareholders through different market conditions.
Against this backdrop, here is a high-yield dividend stock you can buy and hold for a decade.
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A top TSX stock with a high yield of over 6%
Income-focused investors looking for a reliable, high-yield dividend stock to hold for a decade could consider SmartCentres REIT (TSX:SRU.UN). While many TSX dividend stocks offer sustainable yields, this real estate investment trust stands out for its attractive yield, dependable distributions, and solid underlying business.
SmartCentres pays a monthly distribution of $0.154 per unit, yielding over 6%. Further, these distributions are supported by a high-quality real estate portfolio and consistent cash flow.
The REIT owns a diversified portfolio of retail and mixed-use properties located in Canada’s key areas. These strategically positioned assets continue to attract tenants and support strong leasing demand, helping SmartCentres maintain high occupancy rates while benefiting from rental growth. As a result, the trust has generated healthy net operating income (NOI), providing a solid foundation for its monthly distributions.
Another key advantage is the strength of its tenant base. SmartCentres leases its properties to a wide range of established and financially stable tenants, reducing rent collection risk and contributing to predictable cash flows. This stability supports its payouts during periods of economic uncertainty.
With its proven track record of reliable monthly payouts and an attractive yield of over 6%, SmartCentres REIT remains an attractive option for investors looking to generate dependable passive income for a decade or more.
SmartCentres’ Q1 earnings: Leasing momentum remains strong
SmartCentres kicked off 2026 with another quarter of steady operating performance. The REIT reported Same Properties NOI growth of 1.4% year over year in Q1 2026, or 3.4% excluding anchor tenants. The gains were driven by a strong tenant base and higher customer traffic.
SmartCentres’ leasing fundamentals remained solid. In-place and committed occupancy reached 97.6% as of March 31, 2026, reflecting the resilience of its retail properties despite broader economic uncertainty. Approximately 80% of leases scheduled to expire in 2026 have already been extended, with rental spreads remaining robust.
Leasing activity remained healthy throughout the quarter. SmartCentres leased 55,795 square feet of previously vacant space while executing an additional 51,604 square feet of new retail leases, reflecting ongoing demand from tenants seeking well-located retail space.
The REIT’s retention rate stayed high, while rent collection remained close to 99%, reflecting the solid quality of its tenant base and the stability of its cash flows.
SmartCentres to keep rewarding shareholders
SmartCentres continues to benefit from the strength of its retail portfolio, supported by solid leasing activity, high occupancy rates, and growing rental income. These fundamentals provide a strong foundation for the REIT to maintain its attractive monthly distributions.
Beyond its core operations, SmartCentres is unlocking value from its extensive underutilized landbank. The company is also expanding its mixed-use development pipeline, creating new revenue streams and enhancing its long-term growth potential.
In summary, SmartCentres remains a compelling high-yield dividend stock to generate passive income over the next decade.
