How Splitting $30,000 Across Three TSX Stocks Could Generate $2,092 in Annual Dividends

If you have $30,000 sitting on the sidelines, splitting it equally across TELUS (TSX:T), RioCan (TSX:REI.UN), and Enbridge (TSX:ENB) could put roughly $2,092 in annual dividend income in your pocket. That works out to about $174 per month or $523 a quarter.

Here is how the math works out and why the businesses behind the dividends look solid.

What $30,000 in dividend stocks buys you today

Putting $10,000 into each stock at current prices gives you approximately 596 shares of TELUS, 488 shares of RioCan, and 137 shares of Enbridge.

COMPANYRECENT PRICENUMBER OF SHARESDIVIDENDTOTAL PAYOUTFREQUENCYTELUS$16.78596$0.418$249QuarterlyEnbridge$73137$0.97$133
QuarterlyRioCan$20.51488$0.0965$47
Monthly

At current annual dividend rates of $1.67, $1.16, and $3.88 per share, respectively, the income breakdown is roughly $995 from TELUS, $566 from RioCan, and $531 from Enbridge. That adds up to approximately $2,092 per year.

The blended yield on this portfolio is roughly 7%, well above what most savings accounts or guaranteed investment certificates currently offer.

And unlike a fixed term deposit, each of these businesses has a credible case for dividend growth ahead.

The bull case for Telus stock

TELUS has now delivered free cash flow growth of 38%, 12%, and 11% in three consecutive years. For 2026, the company is guiding for approximately $2.5 billion in free cash flow, representing another 10% increase.

The current $1.67 annual dividend consumes about 70% of free cash flow, which management described as sustainable. Dividend growth is paused for now while the company pays down debt, but that deleveraging is moving quickly.

Net debt to EBITDA (earnings before interest, tax, depreciation, and amortization) dropped from 3.9 times to 3.4 times in a single year, and management is targeting three times or better by the end of 2027.

When the dividend starts growing again, shareholders who bought at today’s prices will benefit the most. At $16.78, the yield is nearly 10%.

RioCan is more than just a mall landlord

RioCan is not the retail real estate story it was a decade ago. Today, 86% of its properties include a grocery store. Tenants include Loblaws, Metro, Sobeys, Shoppers Drug Mart, and Dollarama.

On the Q4 earnings call, CEO Jonathan Gitlin described the current environment as a leasing super cycle. Long-term leases signed in the early 2000s are expiring now. Pandemic-era short-term leases are also maturing, which gives RioCan the ability to reset rents to current market rates.

In 2025, new leases came in at approximately $29.65 per square foot, about 28% above the portfolio average. Management expects this gap to persist for at least three more years, covering 10.1 million square feet of maturing leases.

At $20.51, the stock trades at just 12 times forward core funds from operations, a 20% discount to its long-term historical average of 15 times.

Enbridge is an energy behemoth

Enbridge just raised its dividend for the 31st consecutive year, which is exceptional for a cyclical company.

For 2026, management is guiding for EBITDA between $20.2 billion and $20.8 billion and distributable cash flow of $5.70 to $6.10 per share. The $3.88 annual dividend sits comfortably within the 60% to 70% payout ratio target. Management has committed to roughly 5% annual dividend growth through to the end of the decade.

Underpinning that commitment is a $39 billion secured project backlog extending out to 2033. As CEO Greg Ebel noted on the Q4 earnings call, the company expects to sanction another $10 billion to $20 billion of new projects over the next 24 months.

Data centre gas demand, LNG export growth, and Western Canadian oil production growth are all driving that opportunity. At $73, Enbridge offers a 5.3% yield backed by one of the most durable dividend track records in Canadian investing history.

The post How Splitting $30,000 Across Three TSX Stocks Could Generate $2,092 in Annual Dividends appeared first on The Motley Fool Canada.

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More reading

• 4 Secrets I’ve Learned From Studying TFSA Millionaires
• The Canadian Stocks I’d Hold in a TFSA and Never Feel the Need to Sell
• Should You Buy, Sell, or Hold Enbridge Stock in 2026?
• 2 Dividend Stocks That Belong in Every Income Investor’s Portfolio
• The Canadian Blue-Chip Stocks I’d Use to Build Lasting Long-Term Wealth

Fool contributor Aditya Raghunath has positions in Enbridge. The Motley Fool recommends Enbridge and TELUS. The Motley Fool has a disclosure policy.