Since childhood, most of us have been taught that earning money requires putting in time and effort. Most of us grow up understanding that money comes from work, whether through childhood chores, a part-time job, or a full-time career.
But as you start building savings, there’s another possibility worth exploring. Instead of relying entirely on your own time to earn extra income, you can gradually put some of your money to work. This is where dividend investing can change the way you think about earning money. Certain Canadian stocks regularly reward their investors by sharing a portion of their profits with shareholders, allowing investors to receive cash without taking on another job. And you don’t necessarily need thousands of dollars to get started.
In this article, I’ll highlight two affordable Canadian dividend stocks that could help you build an extra income stream even with a small investment.
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Rogers Sugar stock
If you only have a small amount available to start earning dividend income, Rogers Sugar (TSX: RSI) offers an accessible entry point at just $6.53 per share.
Based in Vancouver, Rogers refines and sells sugar and maple products. Its shares have gained 6% over the last year, giving it a market cap of about $837 million. At the current price, RSI stock offers an attractive 5.5% annualized dividend yield.
In the first nine months of its fiscal year 2026 (ended in June), Rogers’ adjusted EBITDA rose nearly 9% YoY to $120.7 million, backed mainly by stronger sugar-segment performance. Its trailing 12-month free cash flow also improved by $2.2 million to $90 million, an important factor for dividend investors.
Meanwhile, Rogers is advancing its LEAP expansion project, which is expected to add roughly 100,000 metric tonnes of sugar-refining capacity in the first half of 2027. This additional capacity could strengthen future earnings and cash flow, although project financing costs are expected to rise.
With its shares trading below $7 and yielding 5.5%, Rogers could be a practical starting point for Canadians seeking extra dividend income and long-term growth potential.
Peyto stock
If you’d rather have that extra income arriving every month, Peyto Exploration & Development (TSX: PEY) offers a 5.7% yield with 12 payouts a year.
The Calgary-based firm produces natural gas and natural gas liquids in Alberta. After climbing 25% over the last year, PEY stock trades at $25.41 per share with a market cap of $5.2 billion.
In the second quarter, its production grew 10% YoY to 145,320 barrels of oil equivalent per day, supported mainly by its drilling program. Its natural gas hedges and sales into markets beyond Alberta also helped offset weaker local gas prices.
Combined with lower controllable costs, these efforts boosted Peyto’s funds from operations by 19% YoY in the latest quarter. As a result, its adjusted net profit jumped 24% YoY, while quarterly free funds flow reached $140.6 million. That allowed the company to distribute $71.8 million in dividends and reduce net debt by $72.4 million during the quarter.
Meanwhile, Peyto is also investing in new wells and has signed a 10-year natural gas supply agreement with Centrica, starting in 2029. Its hedging program has already secured nearly $590 million in revenue for 2027, offering additional protection against volatile gas prices. Overall, with monthly dividends, growing production, and strong cash generation, Peyto offers another great way to build a regular income stream without a large upfront investment.
