How to Generate $150 in Passive Income With $30,000 in 3 Stocks

In today’s uncertain economic environment, building passive income has become increasingly important. Beyond providing financial stability, it can also help offset the impact of rising prices. One of the most convenient and cost-effective ways to generate passive income is by investing in monthly dividend-paying stocks. Additionally, reinvesting these regular payouts can further enhance long-term returns.

COMPANYRECENT PRICENUMBER OF SHARESINVESTMENTDIVIDENDTOTAL PAYOUTFREQUENCYPZA$15.27654$9,986.6$0.0775$50.70MonthlySRU.UN$27.02370$9,997.4$0.15417$57MonthlyWCP$14.61684$9,993.2$0.0608$41.60MonthlyTotal$149.30Monthly

With this in mind, here are three top monthly dividend stocks that could help you generate around $150 in monthly income with a $30,000 investment, equally allocated among them.

Pizza Pizza Royalty

Pizza Pizza Royalty (TSX:PZA) operates the Pizza Pizza and Pizza 73 restaurant brands through a franchise-based model, earning royalties tied to franchisee sales. This structure helps shield its financials from rising input costs, such as commodity and wage prices. In its recently reported fourth-quarter results, same-store sales edged up 0.2%, with a 1.8% increase at Pizza 73 more than offsetting a slight 0.1% decline at Pizza Pizza locations.

Both brands experienced lower customer traffic, which management attributed to cautious consumer spending and increased competition. However, higher average ticket sizes – driven by a rise in premium delivery orders – helped support overall sales. Meanwhile, adjusted EPS (earnings per share) remained flat at $0.245.

Looking ahead, Pizza Pizza Royalty focuses on driving growth through value offerings, menu innovation, ongoing restaurant renovations, and an improved digital customer experience. The company also plans to expand its traditional restaurant network by 2–3% this year. Supported by these initiatives, it appears well-positioned to sustain its dividend payouts. It currently pays a monthly dividend of $0.0775 per share, yielding 6.1%.

SmartCentres Real Estate Investment Trust

Another top monthly dividend stock worth considering is SmartCentres Real Estate Investment Trust (TSX:SRU.UN), which currently offers an attractive yield of 6.9%. The REIT owns and operates 198 strategically located properties across Canada and benefits from a strong tenant base, with 95% of tenants having regional or national presence. Additionally, about 60% of its tenants provide essential services, helping maintain consistently high occupancy levels regardless of broader economic conditions. This stability enables SmartCentres to generate reliable cash flows and maintain steady monthly distributions. It currently pays a monthly dividend of $0.15417 per share.

Looking ahead, SmartCentres continues to expand its portfolio, with 87.4 million square feet of development projects in its pipeline, including 0.8 million square feet currently under construction. These growth initiatives, combined with its resilient occupancy levels, are expected to support its financial performance and sustain its ability to deliver attractive monthly dividends to investors.

Whitecap Resources

My final pick is Whitecap Resources (TSX:WCP), which currently offers an attractive forward yield of 5%. The oil and natural gas producer operates primarily in the Western Canadian Sedimentary Basin. Ongoing geopolitical tensions in the Middle East, coupled with disruptions such as the closure of the Strait of Hormuz – which carries nearly 20% of global petroleum liquids – have driven oil and natural gas prices higher.

Elevated commodity prices tend to benefit producers like Whitecap. The company has also strengthened its production capabilities through its merger with Veren, completed in May 2025. In addition, it boasts a robust resource base, with 2.2 billion barrels of oil equivalent in proved and probable reserves, representing a reserve life index of more than 16 years. Whitecap plans to invest $2–$2.1 billion this year to enhance its production capacity. In a supportive pricing environment, higher output could continue to drive its financial performance, underpinning both potential share price gains and sustainable dividend payouts.

The post How to Generate $150 in Passive Income With $30,000 in 3 Stocks appeared first on The Motley Fool Canada.

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Fool contributor Rajiv Nanjapla has no position in any of the stocks mentioned. The Motley Fool recommends SmartCentres Real Estate Investment Trust and Whitecap Resources. The Motley Fool has a disclosure policy.