Big yields can look tempting but can also bite. That’s why income investors need to look past the dividend yield and ask a harder question: could this stock still make sense 10 years from now? A high payout means little if the business fades, the dividend shrinks, or the share price keeps sliding. The better setup comes from stocks that can keep sending cash while giving investors a reason to stay patient. That’s why today we’re looking at Power & Infrastructure Split (TSX: PWI) and Yellow Pages (TSX: Y).
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PWI
Investors still want income, but they also want exposure to the long-term electricity buildout. Canada and the United States need more power infrastructure. Data centres need huge amounts of electricity. Utilities need grid upgrades. Renewable developers need transmission and storage. That broad theme gives power and infrastructure assets a long runway.
PWI is a split-share corporation that invests in a portfolio of global power and infrastructure companies, giving investors diversified exposure through one ticker. Its monthly income is the main draw. PWI also gives investors exposure to large infrastructure businesses rather than one operating company. That helps spread risk across multiple holdings.
The 10-year case comes from the power demand story. Infrastructure spending doesn’t move in a straight line, but electricity demand looks likely to climb over the next decade. Artificial intelligence (AI), electrification, manufacturing, and grid modernization all support that trend. PWI can benefit if the underlying portfolio performs well and if investor demand for infrastructure income stays strong.
Y
Yellow Pages offers a very different kind of high yield. The dividend stock may sound old-fashioned, but it no longer runs only on printed phone books. It operates digital media and marketing services for small- and medium-sized businesses across Canada. It also owns online properties such as YP.ca, Canada411, and 411.ca.
Small businesses still need customers. Many don’t have the time, staff, or expertise to manage digital marketing on their own. Yellow Pages helps those businesses with online visibility, advertising, websites, and leads. Furthermore, the dividend looks meaningful. The dividend stock also ended April with about $58 million in cash, giving it some flexibility.
The problem is growth. In the first quarter of 2026, Yellow Pages revenue fell 7.8% year over year to $46.8 million. Adjusted earnings before interest, taxes, depreciation, and amortization also declined. That’s the risk investors can’t ignore. Yet Yellow Pages has something income investors often like: cash generation. The dividend stock has continued to return money to shareholders through dividends and buybacks. It also announced a plan for a $25 million share buyback earlier this year.
Bottom line
Together, PWI and Yellow Pages offer two different income paths. PWI gives investors monthly exposure to power and infrastructure themes. Yellow Pages gives investors a cash-generating, turnaround-style dividend stock. Neither belongs in a portfolio without careful position sizing. But for investors seeking high yield over the next decade, both deserve a closer look — especially if you have $7,000 to let compound over the next decade, which could still bring in high income.
| COMPANY | RECENT PRICE | NUMBER OF SHARES | ANNUAL DIVIDEND | ANNUAL TOTAL PAYOUT | FREQUENCY | TOTAL INVESTMENT |
|---|---|---|---|---|---|---|
| PWI | $12.84 | 545 | $1.20 | $654.00 | Monthly | $6,997.80 |
| Y | $12.30 | 569 | $1.00 | $569.00 | Quarterly | $6,998.70 |
The key is simple. Collect the income, watch the payout, and never let yield alone make the decision.
