High Yield, Low Stress: 3 Income Stocks Ideal for Retirees

For retirees, the goal of investing often shifts from aggressive growth to maintaining a low-stress, predictable stream of income. One of the low-cost and effective ways to achieve this is through high-yield dividend-paying stocks.

However, dividends are never guaranteed, and no stock is completely risk-free. Thus, retirees should focus on companies with solid fundamentals, steady cash flows, strong balance sheets, and sustainable payout ratios. These companies generally handle economic downturns with more resilience. Their focus on uninterrupted distributions allows retirees to feel confident that their income won’t suddenly dry up due to short-term market pressures.

Against this background, here are three high-yield, low-stress income stocks for retirees to generate steady income.

Income stock #1: Brookfield Renewable Partners

Brookfield Renewable Partners (TSX:BEP.UN) is a dependable high-yield, dividend stock for retirees. This leading player in the renewable energy sector generates steady cash flow backed by low-cost assets, long-term contracts averaging 13 years, and high-quality revenue protected from inflation (about 75%). That stability supports its attractive current yield of about 5.3%.

The company is set to benefit as electrification, digital infrastructure, and the global push toward decarbonization continue to accelerate demand for renewable power. Its expanding portfolio, spanning hydroelectric, wind, solar, battery storage, and even nuclear assets, adds both resilience and growth potential. Efficient operations and disciplined capital deployment also mean Brookfield can keep reinvesting in higher-return projects.

Management expects more than 10% annual growth in funds from operations per unit, which should translate into dividend increases of 5–9% in the years ahead. With strong fundamentals, efficient operations, a long history of dependable payouts, and visibility over future dividends, Brookfield Renewable is a compelling income stock for retirees.

Income stock #2: Enbridge

Enbridge (TSX:ENB) is a top choice for income-focused retirees who want a dependable, high-yield dividend stock without added stress. Enbridge has been increasing its dividend year after year, irrespective of market conditions. This shows the resilience of its business model and cash flow. Moreover, ENB offers a high yield of 5.7%.

The energy infrastructure company recently announced a 3% dividend increase, raising its quarterly payment to $0.97, effective March 2026. This marked 31 consecutive years of dividend growth.

The majority of Enbridge’s earnings come from regulated assets or long-term contracts, providing stable cash flow even when oil and gas prices swing. This supports its payouts. Moreover, its vast North American pipeline network witnesses high utilization, driving distributable cash flow (DCF). Also, Enbridge targets a sustainable payout ratio of about 60–70% of its DCF.

Looking ahead, Enbridge’s liquid pipelines and expanding utility business will continue to drive steady earnings and dividend growth. Moreover, its expanding renewables portfolio augurs well for future growth, positioning it to capitalize on rising electricity demand.

Income stock #3: SmartCentres REIT

Retirees could consider SmartCentres REIT (TSX: SRU.UN) for its 7.3% yield, durable dividend payments, and monthly payouts. The REIT’s payouts are driven by the resilience of its high-quality real estate portfolio. It operates 197 mixed-use properties in high-traffic, densely populated communities where tenant demand remains strong. Thanks to higher demand, SmartCentres witnesses high occupancy (stood at 98.6% in Q3) and generates higher rental income.

Much of SmartCentres’ portfolio is anchored by essential retailers with nationwide reach. These high-quality tenants add stability to its income regardless of economic conditions and drive leasing activity. SmartCentres is also expanding beyond retail into mixed-use developments. This growth strategy positions the REIT to benefit from ongoing urbanization trends and maintain steady growth.

In short, high occupancy, strong leasing demand, a high rent collection rate of about 99%, and a mixed-use development pipeline position the REIT well to sustain its payouts.

The post High Yield, Low Stress: 3 Income Stocks Ideal for Retirees appeared first on The Motley Fool Canada.

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More reading

• Buy 928 Shares of This Stock for $300 in Monthly Dividend Income
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• 2 Solid TSX Dividend Stocks for Retirees
• Top TSX Dividend Stocks for Retirees

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Renewable Partners, Enbridge, and SmartCentres Real Estate Investment Trust. The Motley Fool has a disclosure policy.