Who doesn’t want to see a little extra money arriving in their bank account without having to work another shift? I certainly understand the appeal, especially when your regular paycheque already has so many places to go. But most side income ideas often sound much easier than they actually are. Driving deliveries after work, taking freelance assignments, or giving up your weekends might bring in extra cash, but you’re still trading more of your time for money.
Personally, I’d rather explore ways to make some of my savings do the work instead. That’s one reason I like dividend stocks. They won’t make you rich overnight, and you need money to invest in the first place, but they can gradually provide cash without demanding another shift on your calendar.
In this article, I’ll share two TSX dividend stocks that could help Canadians earn extra income while keeping their evenings and weekends free.
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Keyera stock
Keyera (TSX: KEY) is one Canadian stock worth considering if you want your savings working alongside your regular paycheque. Based in Calgary, the company operates energy infrastructure that handles natural gas processing, transportation, storage, and marketing.
Keyera shares have gained 29% over the past year. As of October 28, the stock traded at $54.55 per share, giving the business a market cap of $15.9 billion. For income seekers, its 4.1% annualized dividend yield makes it even more attractive, paid in quarterly instalments.
Beyond that impressive share price gain, Keyera has been expanding its infrastructure business, which helped lift its fee-based realized margin by nearly 38% year-over-year (YoY) to $350 million in the second quarter of 2026. Its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the quarter also climbed about 6% YoY with the help of strong demand for services and contributions from its acquisitions.
However, operational disruptions at Alberta EnviroFuels and Enbridge‘s Line 5 pipeline led Keyera to cut its 2026 Marketing realized margin guidance in September to $320 million–$350 million.
But the underlying strength of its long-term growth outlook remains intact. After buying Plains’ Canadian natural gas liquids business and taking full ownership of KAPS, Keyera has expanded its reach across energy markets. The company now expects its fee-based adjusted EBITDA per share to grow at a compound annual rate of 16% to 18% from 2025 through 2027.
Coupled with the recent 4.2% dividend increase, that expansion gives income-focused Canadians a reason to consider this TSX dividend stock.
Sienna Senior Living stock
For Canadians who’d rather see cash arrive more often, Sienna Senior Living (TSX: SIA) offers another route to passive income. Based in Markham, Ontario, the company operates retirement communities, assisted-living and memory-care services, and long-term care residences.
At the time of writing, Sienna traded at $19.86 per share and had a market cap of $2.2 billion. At that market price, the stock offered a 4.7% dividend yield, and unlike Keyera, Sienna pays its dividend monthly.
In early October, the company announced plans to buy Brighton Retirement & Active Living in Ontario for about $73.8 million. The property has 165 residential suites, including 124 retirement suites that were already about 95% occupied. Sienna expects this deal to complete in the fourth quarter of 2026.
The Brighton purchase is part of a bigger expansion. Meanwhile, Sienna reported adding more than $430 million of assets through acquisitions so far in 2026. It has also been accelerating its long-term care redevelopment work through a $625 million joint venture partnership. Together, these investments could expand the business and support earnings over time as the company executes its plans.
For someone who already has a full-time job, Sienna’s monthly payments and expanding seniors’ living platform could make it an attractive stock to hold for additional income.
