Investing in high-yield dividend shares that provide month-to-month payouts is an efficient option to generate secure passive revenue within the present low-interest-rate atmosphere. Towards this backdrop, let’s take a look at three Canadian shares that provide month-to-month dividends at increased yields.

SmartCentres Actual Property Funding Belief

With REITs (actual property funding trusts) mandated to pay 90% of their taxable revenue to shareholders, these corporations could be best for income-seeking buyers. Due to this fact, I’ve chosen SmartCentres Actual Property Funding Belief (TSX:SRU.UN) as my first choose. With its 197 strategically situated properties, round 90% of the nation’s inhabitants could have at the very least one of many REIT’s buying centres inside 10 kilometres. Moreover, the REIT boasts a robust tenant base, with 95% having a nationwide or regional presence and 60% offering important companies. Supported by these beneficial elements, the corporate maintains a robust occupancy price, which reached 98.6% by the tip of the second quarter of 2025.

Moreover, SmartCentres is steadily increasing its portfolio, holding growth approvals for about 58.1 million sq. ft, with roughly 0.8 million sq. ft of tasks at the moment underway. In the meantime, the sluggish provide as a consequence of elevated development bills and better rates of interest has elevated the demand for retail house, thereby driving rental development. Amid these beneficial elements, I anticipate SmartCentres to proceed paying dividends at a more healthy price. In the meantime, it at the moment distributes a month-to-month payout of $0.1542 per share, equating to a pretty yield of seven.1%.

Whitecap Assets

One other month-to-month dividend inventory I favour is Whitecap Assets (TSX:WCP), an organization that’s engaged in oil and pure fuel manufacturing throughout Western Canada. It has strengthened its manufacturing capabilities by its strategic mixture with Veren, thereby turning into Canada’s seventh-largest oil and pure fuel producer. The strategic mixture has additionally bolstered its stability sheet, enhancing liquidity and decreasing leverage.

In the meantime, preliminary synergies from integrating Veren’s belongings and workforce have contributed in direction of WCP’s price consolidation and improved credit score profile. Moreover, the corporate’s administration expects to leverage shared information and experience throughout its mixed portfolio to attain additional features in capital effectivity and working price financial savings over the following 6 to 12 months. Together with these initiatives, the corporate’s deliberate capital investments of $1.2 billion within the second half of this yr may increase its manufacturing, thereby supporting its monetary development. Amid these wholesome development prospects, I anticipate WCP, which at the moment gives a powerful ahead dividend yield of 6.9%, to proceed paying dividends at engaging yields.

Pizza Pizza Royalty

My closing choose could be Pizza Pizza Royalty (TSX:PZA), which has adopted a extremely franchised enterprise mannequin, working all of its Pizza Pizza and Pizza 73 model eating places by its franchisees. It collects royalties from its franchisees based mostly on their gross sales, due to this fact making its financials much less inclined to rising commodity costs and labour wages. Though the corporate intends to pay all of the obtainable money to its shareholders, it maintains affordable reserves to stabilize its month-to-month payouts towards the seasonal fluctuations inherent within the restaurant trade. In the meantime, it at the moment gives a wholesome ahead dividend yield of 6.1%.

Furthermore, the corporate continues to increase its footprint and expects to boost its conventional restaurant rely by 2–3% this yr. Together with these expansions, its menu improvements, advertising and marketing initiatives, and renovations of current eating places may drive its similar restaurant gross sales. Contemplating these wholesome development prospects and secure money flows from its asset-light enterprise mannequin, I anticipate PZA to proceed rewarding its shareholders with wholesome yields.