High-yield dividend stocks can play an important role in boosting a portfolio’s income potential. However, investors should be careful not to mistake a high yield for a safe investment. A high yield can sometimes reflect a falling share price and growing concerns about the company’s ability to maintain its payout.
In other words, the dividend yield is only part of the investment thesis. The underlying business and the cash flow supporting the dividend matter far more.
For investors with a decade-long horizon, dividend sustainability should be a key consideration. TSX stocks with resilient business models, recurring or predictable cash flows, sustainable payout ratios, and disciplined capital allocation are better positioned to maintain distributions through economic downturns. A strong track record of dividend payments can also indicate the strength of its business model.
With this background, here are two attractive high-yield dividend stocks worth holding for decades.
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High-yield dividend stock #1
Gibson Energy (TSX: GEI) is an attractive high-yield stock to hold for a decade. The energy infrastructure company has consistently rewarded shareholders with higher dividend payments. Gibson has increased its dividend for seven consecutive years, reflecting strong earnings and cash flow. Further, GEI stock offers a high yield of 5.7%.
Gibson operates a diversified portfolio of liquids infrastructure assets, including storage terminals, processing facilities, gathering systems, and waterborne loading services for crude oil and refined products, which drives steady cash flow and supports its distributions.
Gibson’s payouts are backed by its Infrastructure segment, which accounts for most of its earnings. Revenue from this business is largely secured through long-term, take-or-pay contracts with investment-grade customers. This contractual operating structure adds stability to earnings and cash flow, limits exposure to commodity price volatility, and supports dividend payments.
Gibson is well-positioned to sustain its payouts in the years ahead. The acquisition of Teine Energy’s Chauvin Infrastructure Assets expands its presence in Canada’s crude oil infrastructure market. Meanwhile, the Wink-to-Gateway Integration project is designed to strengthen connectivity across its network and improve operating efficiency. These projects are likely to boost the Infrastructure segment’s earnings, thereby supporting higher dividend payouts.
High-yield dividend stock #2
With a yield of about 6.6% and durable dividend payouts, SmartCentres REIT (TSX: SRU.UN) stock is a reliable dividend stock to hold for a decade. SmartCentres is one of Canada’s largest fully integrated real estate investment trusts (REITs), with a diversified portfolio of retail and mixed-use properties. Its strategically located assets help attract high-quality tenants, including large retailers, and maintain high occupancy levels.
Further, its high-quality real estate portfolio drives steady net operating income (NOI) growth and boosts funds from operations (FFO), enabling the REIT to pay uninterrupted monthly dividends for years. SmartCentres REIT currently pays $0.15 per unit each month. Moreover, the company appears well positioned to maintain its distributions over the long term, supported by strong operating fundamentals and a favorable leasing environment.
The REIT’s occupancy rate stood at 98.1% at the end of June 30, 2026. Strong leasing activity is also driving rents higher. Demand for its new retail space remains solid, and tenant retention is strong. These factors should continue to drive NOI and FFO growth, supporting its payouts.
The REIT also has significant land holdings and a substantial mixed-use development pipeline. These growth opportunities position SmartCentres REIT well to sustain its payouts.
