One of many key components many earnings buyers overlook is how usually an organization pays its dividends. Positive, quarterly earnings is nice, however month-to-month dividend payouts are even higher with an entire totally different degree of money stream consistency — particularly when it comes from a actual property funding belief (REIT) that’s filled with blue-chip tenants and long-term leases.

Now, take into consideration proudly owning 2,000 shares of this TSX-listed inventory and sitting again because it drops almost $308 into your account each month. It’d sound like a dream, however that’s precisely how this REIT runs.

On this article, I’ll let you know why SmartCentres Actual Property Funding Belief (TSX:SRU.UN), considered one of Canada’s most dependable month-to-month dividend shares, might be a sensible choose for dependable earnings for long-term buyers.

A high month-to-month dividend inventory to purchase in Canada

To place it merely, the Vaughan-based SmartCentres REIT owns considered one of Canada’s largest portfolios of income-producing retail and mixed-use properties.

After climbing 8% during the last 10 months, it at the moment trades at $26.18 per share and carries a market cap of round $3.8 billion. For buyers in search of common earnings, its annualized dividend yield of roughly 7.1% makes it one of the vital beneficiant month-to-month dividend shares on the TSX at present.

Now, let’s dig into what’s been maintaining this REIT in nice form. Within the third quarter of 2025, SmartCentres posted an in-place and dedicated occupancy fee of 98.6% throughout its portfolio. That’s one of many highest amongst Canadian REITs and exhibits simply how resilient its leasing enterprise is. In the course of the quarter, the REIT leased one other 68,000 sq. toes of area, pushing its year-to-date whole to almost 394,000 sq. toes. On the brighter aspect, it renewed 84.3% of leases maturing this 12 months with rental progress of 8.4%, excluding anchor tenants.

Notably, lots of SmartCentres’s properties are anchored by very fashionable firms like Walmart, Canadian Tire, Loblaw, and Dollarama. Such massive gamers don’t simply lease area however assist pull visitors throughout complete procuring centres. This sturdy tenant base provides it monetary stability and affords SmartCentres buyers confidence in its month-to-month payouts.

Its progress pipeline provides extra cause to purchase it now

With new amenities opening quickly in Quebec and British Columbia, SmartCentres is actively increasing its self-storage footprint. The REIT just lately accomplished 13 townhome closings in Vaughan and has almost completed Section Certainly one of that undertaking, with 111 of 120 models already offered.

It additionally has a flagship Canadian Tire retailer beneath building in Toronto and a serious presence on the Vaughan Metropolitan Centre. I see these tasks as earnings streams ready to be unlocked, giving me extra confidence within the REIT’s capability to maintain paying excessive, reliable dividends each month.

Silly backside line

When you purchase 2,000 shares of SmartCentres REIT on the present market value, you’d earn round $308 each month in passive earnings, or about $3,708 yearly. However that may additionally imply investing almost $52,360 right into a single inventory. As a substitute of placing that a lot into only one or two picks, chances are you’ll wish to unfold it throughout just a few high quality dividend shares to diversify your earnings portfolio.