5 Canadian Stocks I’d Buy if I Wanted Instant Income

When rates start looking shaky, instant income gets a lot more attractive. A stock or real estate investment trust (REIT) that pays you right away can help smooth out the ride when bond yields swing, central bank hopes change, or markets suddenly decide safe assets are not so safe after all. Better yet, income today gives you options. You can spend it, reinvest it, or just let it quietly build while you wait for the market to make up its mind. So let’s look at the top choices on the TSX today.

DIR

Dream Industrial REIT (TSX:DIR.UN) owns warehouses and industrial properties in Canada, Europe, and the U.S. In its latest results, Dream said 2025 funds from operations (FFO) per unit rose 5% to $1.05, comparative property net operating income (NOI) climbed about 6%, and average in-place rents increased 8%. It also renewed its buyback plan this month.

Based on the annual distribution at $0.70, investors get a yield near 5.6%. That looks reasonable for a dividend stock with improving leasing momentum, though rate pressure and refinancing costs still need watching.

Y

Yellow Pages (TSX:Y) is no longer the old directory story people remember. Now it runs digital marketing and media services for Canadian businesses, and it still throws off a chunky dividend. Over the last year, it completed a CEO transition and kept de-risking its pension plan, which helps clean up the balance-sheet story.

In 2025, revenue fell 7.4% to $198.9 million, but adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) still reached $43 million and net income came in at $18.1 million. With the shares around $13.46 and the annual dividend running at $1.00, the yield sits near 7.4%, and the dividend stock trades at about 10 times trailing earnings.

SRU

SmartCentres REIT (TSX:SRU.UN) owns one of the strongest retail real estate portfolios in Canada, with Walmart-anchored sites, apartments, self-storage, and a growing mixed-use pipeline. In its 2025 results, occupancy hit an impressive 98.6%, same-property NOI rose 3.7%, and FFO per unit for the fourth quarter edged up to $0.54.

It also opened a new Walmart at South Oakville and kept expanding its self-storage platform. With the monthly payout at $0.154, the yield is close to 6.9%. On an annualized fourth-quarter FFO basis, it trades at roughly 12 times cash flow.

CHP

Choice Properties REIT (TSX:CHP.UN) owns grocery-anchored retail, industrial assets, and mixed-use properties across Canada, and that grocery link gives it a nice defensive edge. In 2025, occupancy improved to 98.2%, FFO per unit rose 3.6% to $1.069, and management lifted the annual distribution again, this time to $0.78.

It also guided for 2026 FFO per unit of $1.08 to $1.10, so there is still modest growth in the tank. The yield sits near 5.1%, and the trust trades at about 14 times FFO. That is not a screaming bargain, but for dependable monthly income backed by essential real estate, it still looks like a solid fit.

EIF

Exchange Income (TSX:EIF) is the higher-octane choice. It owns a mix of aviation and manufacturing businesses, and it has earned a loyal following for its monthly dividend. The last year was busy in a good way. It posted record 2025 revenue of $3.3 billion, record adjusted EBITDA of $754 million, and record earnings per share of $3.20.

In the last few weeks, it also announced a $600 million investment-grade senior notes offering, expanded its credit facility, and highlighted an investment-grade bond rating, all of which should help fund future growth. At a monthly dividend of $0.23, the yield is roughly 2.7%. That yield is lower than the REITs, but the growth engine is stronger.

Bottom line

If I wanted instant income today, these are the dividend stocks I’d pick up immediately. And here’s what they could bring in from $7,000 invested in each!

COMPANYRECENT PRICENUMBER OF SHARESANNUAL DIVIDENDANNUAL TOTAL PAYOUTFREQUENCYTOTAL INVESTMENTEIF$102.7568$2.76$187.68Monthly$6,987.00DIR.UN$12.53558$0.70$390.60Monthly$6,994.74CHP.UN$15.41454$0.78$354.12Monthly$6,995.14SRU.UN$26.84260$1.85$481.00Monthly$6,978.40Y$12.81546$1.00$546.00Quarterly$6,994.26

All five can pay you quickly, but the best instant-income stocks are the ones that still look capable of paying you years from now.

The post 5 Canadian Stocks I’d Buy if I Wanted Instant Income appeared first on The Motley Fool Canada.

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More reading

• Transform Your TFSA Into a Cash-Creating Machine With $10,000
• 5 TSX Dividend Stocks With Solid Yields Built for Steady Cash Flow in Any Market
• Why This Steady 5.4% Yield Makes an Ideal TFSA Stock
• How to Set Up a $14,000 TFSA That Could Pay You Monthly for Life
• How Splitting $30,000 Across 3 TSX Stocks Could Generate $1,315 in Dividend Income

Fool contributor Amy Legate-Wolfe has positions in Walmart. The Motley Fool recommends Dream Industrial Real Estate Investment Trust, SmartCentres Real Estate Investment Trust, Walmart, and Yellow Pages. The Motley Fool has a disclosure policy.