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Some Canadian companies are poised to continue to navigate the macro challenges better and deliver healthy capital gains. Even if the operating environment is challenging, investors can confidently put their surplus money in stocks of companies that have consistently grown their funds regardless of economic conditions. So, if you have $500 to invest, invest in these five stocks now.
Consumer organizations Known for their defensive business model. Within the consumer space, investors can consider stocks Dollarama (TSX:DOL), which outperformed the benchmark index in 2022. Its sales and revenue have a CAGR (compound annual growth rate) of 11% and 17% since 2011, respectively.
Also, its value offerings and extensive store inventory continues to drive traffic and its finances. The company is poised to deliver solid growth despite a weak macro environment that is pushing up its share price.
Within the consumer sector, Food Gooch-tart (TSX:ATD) is another high-quality stock that can be invested with confidence for steady returns. Its resilient business model, solid growth profile and steady dividend growth support my bullish outlook.
Its large store base, value pricing and wide offerings bode well for growth. Also, its growing footprint in the US and focus on strategic acquisitions will accelerate its growth rate. Couche-Tard’s dividend has grown at a CAGR of around 25% over the past decade. Also, it can continue to increase its shareholder returns through higher dividends in the years to come.
Canadian National Railways
Canadian National Railways (TSX: CNR) is a leading transportation and logistics company that will be a solid addition to your portfolio. Its services are considered vital to the economy, and the company provides steady growth in its finances and enhances shareholder returns through consistent dividend growth (26 consecutive years of increased dividend).
Its diversified customer base, capacity infrastructure investments and fleet additions bode well for future growth. Also, there is a strong need to expand the interdisciplinary network and partnerships that will support its growth.
Slim (TSX:GSY) is a leading provider of leasing and lending services to subprime customers in Canada. The financial services company continues to deliver stellar growth regardless of the economic climate. Both its top and bottom lines have grown at high double-digit rates over the past decade. Meanwhile, high loan origination and a large subprime lending market bode well for delivering stellar growth in the coming years.
goeasy’s wide product range, channel expansion, consistent credit and payments performance and growth in loan portfolio will boost its sales and revenue. Also, goeasy has a top A dividend paying stock It has paid dividends for 18 years and has increased them for the last eight consecutive years. Its growing revenue base indicates that goeasy can continue to grow its shareholder returns at a healthy pace.
Aritzia (TSX:ATZ) is the best stock to build wealth. The fashion house has consistently delivered strong revenue growth due to strong demand supporting full-price sales. Also, Aritzia is profitable and has grown its revenue rapidly.
Management projects its top line to record 15-17% compound annual growth through 2027. Also, its revenue growth is expected to outpace the sales growth rate. Overall, Aritzia is poised to deliver solid growth and outperform the benchmark index.