Allocate $10,000 each into Timbercreek Financial (TSX:TF), Fiera Capital (TSX:FSZ), and Telus (TSX:T) today, and you would collect close to $2,820 in dividends over the next 12 months.
Here is the appeal of high-yield dividend stocks. You buy shares once, then the cash keeps showing up in your account. For an investor building a low-cost passive income stream, that is about as hands-off as it gets.
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How the $30,000 split turns into $2,820 a year
Let’s see how investing $30,000 split evenly between the three TSX dividend stocks can help you earn close to $3,000 in annual dividends over the next 12 months.
Timbercreek pays the most. At a recent price near $6.56 and an annual dividend of $0.69 per share, the yield sits around 10.5%.
You can purchase 1,524 Timbercreek shares with $10,000 and earn $1,060 a year in annual dividends. Notably, Timbercreek pays you a monthly dividend of $0.058 per share.
Telus stock is priced at $17.35 and pays a quarterly dividend of $0.42, which translates to a yield of 9.6%. You can own 576 Telus shares with $10,000 and generate $962 in annual dividends.
The third stock on the list is Fiera Capital, which pays a quarterly dividend of $0.11 per share, yielding almost 8%. You can own 1,855 shares of Fiera and generate $800 in annual dividends.
Add the three together, and you land at roughly $2,820 in yearly dividends, or an average yield of 9.4%.
Timbercreek Financial keeps paying each month
Timbercreek is a mortgage lender providing short-duration loans to commercial real estate borrowers across Canada.
The company has paid a dividend for 11 straight years and offers you exposure to the real estate lending sector.
Given consensus price targets, Timbercreek stock trades at a 7% discount in June 2026. If we adjust for dividends, cumulative returns could be closer to 18%.
Fiera Capital is a private markets stock
Fiera is an asset manager and ended Q1 with $160.2 billion in assets under management.
It reported an adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $42.7 million in Q1 and lowered operating expenses by 7% year over year. The private markets segment now accounts for 37% of revenue while holding just 14% of assets.
Given consensus price targets, Fiera stock trades at a 15% discount in June 2026. If we adjust for dividends, cumulative returns could be closer to 23%.
Telus is the steady blue chip of the group
Telus is among the largest telecom companies in North America. The blue-chip stock is down 50% from all-time highs, allowing shareholders to buy the dip and benefit from an elevated yield of almost 10%.
Telus declared a quarterly dividend of $0.42 per share in May, payable July 2, according to a company statement.
The company has a long record of raising its payout, though management has cautioned that future increases have been suspended.
Telus is also spending heavily in capital expenditures, committing over $24 billion to network expansion in Ontario, which will impact near-term cash flow
The Foolish takeaway
For an investor focused purely on income, this trio of Canadian stocks offers diversification and a steady income stream. A blended 9.4% yield on $30,000 is attractive compared to the TSX index yield of less than 3%.
If steady passive income is your goal, these three deserve a spot on your watch list. Just go in with your eyes open, size the positions sensibly, and remember that a 9% yield is the market telling you to read the fine print.
