Canada's annual inflation rate has soared to a 30-year high, according to data released for
February. At 5.7 per cent, inflation surpassed the analysts' estimate of 5.5 per cent, and it
was the highest uptick since August 1991. Amid rising prices, investors could be looking for
stocks that can beat out inflation. So let’s take a look at 7 TSX-listed picks worth considering.
Chemtrade Logistics Income Fund (TSX:CHE.UN)
Chemtrade provides industrial chemicals to its customers in North America and worldwide. It
also manufactures coagulants for water treatment and has significant business operations in Canada,
South America, and the US. The income holds the highest dividend yield of 7.7 per cent
and distributes a monthly dividend of C$ 0.05 per unit to the shareholders. As the
stock generates passive income every month, it could be an option to beat rising inflation.
Chemtrade stock was priced at C$ 7.83 apiece on April 14.
Magna International (TSX:MG)
Magna plays an essential role in car manufacturing as it provides exteriors, interiors, roof systems,
and seating products to automobile manufacturers. The company distributed a quarterly dividend
of US$ 0.45 per share, and its dividend growth was 9.3 per cent in the last three years.
Magna International stock closed at C$ 76.59 per share on April 14.
Tourmaline Oil (TSX:TOU)
Some companies can pass on the rising cost burden on customers and grow their earnings. Energy
companies are among them, and Tourmaline Oil Corp. could be an option for an investment portfolio. In
January, the oil and gas company had increased its quarterly dividend by 11 per cent and a special
cash dividend of C$ 1.25 per share. Tourmaline Oil stock was trading at $63.96 on April 14.
Canadian Utilities (TSX:CU)
Some analysts believe that utility stock could play well during market uncertainties due to
slow-moving stocks and the distribution of dividends frequently. In 2021, the utility
company's consolidated adjusted earnings were C$ 586 million, up from C$ 535 million in 2020.
Meanwhile, it also announced the acquisition of the Alberta Hub natural gas facility. On April
14, Canadian Utilities stock's price was C$ 39.22 per share.
B2Gold (TSX:BTO)
Gold is said to be a hedge against inflation, and if you are not directly investing in the
yellow metal, there's a way to invest in gold through gold stocks. In 2021,
B2Gold announced a record annual gold production of over 1 million ounces, marking the 13th
consecutive year of annual gold production. On April 14, B2Gold stock was at C$ 6.24 per share.
North West Company (TSX:NWC)
The retail company caters to the needs of underserved rural communities
and also urban neighbourhoods. North West Company offers food, apparel, appliances,
and outdoor products. The company is known to distribute dividends frequently, and it paid a
quarterly dividend of C$ 0.37 per unit, and its dividend yield is 3.7 per cent.
On April 14, North West Company stock closed at C$ 36.67 per share.
Rogers Sugar (TSX:RSI)
There is always a demand for sugar used throughout the year, which is why
a consumer staple stock like Rogers Sugar could be worth considering for an investment portfolio.
Rogers holds a dividend yield of 5.7 per cent and is capable of providing passive income
to the shareholders. In the first quarter of 2022, the company's revenue jumped to C$ 230.75 million.
On April 14, Rogers Sugar stock was priced at C$ 6.21 apiece.
And that concludes our list. Now that you’re up to speed,
hit the bell icon to stay updated. I’m Holly Shields for Kalkine Media.