Hot Canadian Dividend Stocks to Buy

In this article, we will discuss Hot Canadian Dividend Stocks to Buy

For investors seeking consistent cash flow, monthly dividend stocks offer a unique advantage—regular income throughout the year. Whether you’re preparing for retirement, reinvesting for the long term, or simply looking to supplement your monthly budget, certain TSX-listed stocks stand out for their dependable payouts. Four noteworthy names currently offering this kind of reliability are: SmartCentres REIT (TSX:SRU.UN), Dream Industrial REIT (TSX:DIR.UN), Gibson Energy (TSX:GEI), and Capital Power (TSX:CPX).

Also Read: Dividend Paying Stocks in Canada

SmartCentres REIT (SRU.UN)

SmartCentres REIT is one of the Hot Canadian Dividend Stocks to Buy. SmartCentres specializes in retail real estate, particularly properties anchored by essential services such as Walmart, grocery stores, and pharmacies. These tenants provide consistent rental income, helping the REIT weather economic ups and downs.

At present, shares of SmartCentres are trading near $29 and provide a monthly dividend of $0.154—equivalent to an attractive 8.2% yield. Over the past year, the company has generated $970 million in revenue and earned $246 million in net income. That strong financial footing supports its commitment to ongoing monthly dividend payments.

Also Read: Reliable TSX Dividend Stocks for 2025

Dream Industrial REIT (DIR.UN)

Dream Industrial REIT is one of the Hot Canadian Dividend Stocks to Buy. Dream Industrial takes a different approach, focusing on industrial assets like warehouses and logistics hubs—properties that have become more valuable due to e-commerce growth and evolving supply chains.

Gibson Energy is one of the Hot Canadian Dividend Stocks to Buy. The REIT distributes $0.059 per share each month and trades around $10.50, offering a yield of approximately 5.8%. While rising interest costs recently pressured earnings, Dream Industrial remains geographically diversified with assets in Canada, the U.S., and Europe. Long-term lease agreements help ensure predictable cash flows, making it a stable option for monthly income seekers.

Gibson Energy (GEI)

Gibson Energy is one of the Hot Canadian Dividend Stocks to Buy. Gibson Energy operates in the energy infrastructure segment, providing services like oil storage and transportation rather than producing oil itself. This means its earnings are generally less volatile and tied to long-term contracts instead of commodity prices.

In Q1 2025, the company posted earnings per share of $0.30, up from $0.25 a year earlier. Gibson pays a quarterly dividend of $0.39, but many investors spread this income out monthly through dividend reinvestment programs. With shares priced around $23, the yield stands at a strong 7.3%, appealing to those looking for steady income in the energy sector.

Capital Power (CPX)

Capital Power is one of the Hot Canadian Dividend Stocks to Buy. Capital Power offers stability through its position in the utilities sector. The company produces electricity from a blend of natural gas and renewable sources like wind and solar, typically selling this power through long-term contracts that help lock in cash flow.

Currently trading near $57, Capital Power pays an annual dividend of $2.61, which breaks down to about $0.2175 per month—resulting in a yield close to 4.7%. Its Q1 2025 performance showed net income of $150 million and adjusted funds from operations of $218 million, both marking year-over-year improvements. The company also remains committed to its goal of increasing dividends by 6% annually through 2025.