Investors seeking reliable passive income have no shortage of options on the TSX. Blue-chip dividend stocks such as Fortis and Enbridge have impressive track records of annual dividend increases, making them popular choices for long-term income investors.
Meanwhile, energy giant Canadian Natural Resources has rewarded shareholders with 26 consecutive years of dividend growth. Further, its payout has increased at a compound annual growth rate of 20% over that period.
These Canadian stocks are supported by durable businesses, resilient cash flows, and sustainable payout policies, which are the key characteristics income investors should look for when building a dependable dividend portfolio.
However, if you do not want to wait for three months between dividend payments and prefer more frequent cash distributions, look for companies that pay dividends monthly.
With this backdrop, here is a dividend stock with a long history of rewarding shareholders and currently offering an attractive yield of about 4.9%.
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A reliable monthly dividend stock
For investors seeking reliable monthly income, Dream Industrial REIT (TSX:DIR.UN) could be a solid option. The industrial real estate owner offers a monthly distribution, backed by a portfolio of strategically located properties.
Dream Industrial REIT currently pays $0.058 per unit each month. Based on its June 16th closing price of $14.16, the stock yields approximately 4.9%, making it a compelling option for passive-income investors.
Supporting the real estate investment trust’s (REIT’s) payout is a high-quality portfolio of urban industrial properties across Canada, Europe, and the United States. These assets serve tenants involved in warehousing, outdoor storage, light manufacturing, and last-mile logistics. These segments continue to benefit from long-term e-commerce growth and supply-chain modernization.
The REIT’s focus on urban industrial markets gives it a meaningful competitive advantage. With limited land available for new development near major population centres, supply remains constrained while demand for well-located industrial space stays strong. That dynamic helps support higher rents, strong occupancy levels, and stable cash flows.
Those advantages are consistently showing up in the numbers. At the end of the first quarter of 2026, occupancy stood at a robust 95.7%, reflecting continued demand for Dream Industrial’s properties. Meanwhile, rental growth remained healthy, particularly in Canada, where in-place rents increased 10.7% year over year. Lease renewals, new leasing activity, positive rental spreads, and contractual rent escalators all contributed to that growth.
Overall, Dream Industrial REIT is a reliable monthly dividend stock offering an attractive yield near the current levels.
Earn $116 per month from this dividend stock
Dream Industrial REIT is likely to sustain its payouts despite ongoing geopolitical uncertainty and trade tensions. It continues to benefit from strong demand for logistics and warehouse properties. Further, the REIT is witnessing rising leasing activity, higher rental rates, and the gradual absorption of vacant industrial space.
The company is also expanding its footprint in key urban markets while strengthening its earnings through strategic acquisitions. These initiatives are expected to support future revenue growth and help maintain its attractive monthly distributions.
Beyond traditional rental income, Dream Industrial REIT is creating new revenue streams through solar installations, electric vehicle charging stations, and telecom infrastructure across its properties. These initiatives diversify cash flow and improve earnings stability.
Its solar business is already gaining traction, with multiple projects operating and additional developments underway. At the same time, favourable industry trends continue to support demand for industrial real estate. Higher nearshoring activity, supply chain realignment, and growing logistics requirements related to defence spending are driving demand for strategically located warehouse space, helping sustain strong occupancy rates and rental growth.
With high-quality assets, diversified revenue streams, and favourable industry tailwinds, Dream Industrial REIT appears well-positioned to continue delivering dependable monthly income to investors.
At current prices, an investment of roughly 2,000 shares could generate approximately $116 in monthly dividend income.
