3 Defensive Canadian Stocks in a High Stock Market
The last few days saw the Canadian stock market retreating from its all-time high. Today, at writing, it’s in the red by about 0.55%.
While some stocks like Maxar Technologies and Docebo lost altitude by falling about 26% and 6%, respectively, down to earth, other stocks are showing strength and resilience by being in the green. They include Waterloo Brewing (TSX:WBR), West Fraser Timber (TSX:WFG)(NYSE:WFG), and Converge Technology Solutions (TSX:CTS). A closer look suggests more upside might be coming!
Waterloo Brewing stock has appreciated about 4.4% as of writing with a market cap north of $245 million. It is Ontario’s largest Canadian-owned brewery. It is a regional brewer of award-winning premium quality and value beers that was founded in 1984.
The brewer is a consumer defensive stock with a track record of dividend increases. The brewery has increased its dividend every single year in the past five years. It’s a high-growth-stock suspect, as its three-year dividend-growth rate is approximately 16%!
Its growth has actually accelerated recently. Last year, it posted record revenue growth of 44% to $87 million, while its …
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