3 Canadian Stocks for Beginners to Invest in January 2024
Remember to consider your financial goals, risk tolerance, and investment horizon before making any investment decisions.
Diversifying your portfolio and staying informed about market trends are also key principles for successful investing.
Here are 3 Canadian stocks for beginners to invest in 2024.
1. Canadian National Railway (TSX: CNR)
For newcomers to the investment scene, it's worth exploring the option of acquiring stocks in the Canadian National Railway (TSX: CNR).
As one of North America's largest railway operators, CNR has a vital role in transportation, making it a stable choice.
As the largest railway company in Canada, Canadian National Railway boasts an extensive network spanning nearly 33,000 km of track, connecting regions from British Columbia to Nova Scotia.
Notably, the company has expanded its operations into the United States, efficiently transporting goods as far south as Louisiana.
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2. Fortis Inc. (TSX: FTS)
Fortis is a utility company with a reputation for steady and reliable dividends, making it attractive for income-oriented investors.
Fortis is renowned for its consistent dividend growth, having elevated its dividend distribution for an impressive 50 consecutive years.
This achievement secures its position as the second-longest active dividend-growth streak in the country. Fortis has not only established this remarkable track record but has also outlined its commitment to sustaining dividend growth through 2028, projecting an annual rate of 4% to 6%.
3. Bank of Nova Scotia (TSX: BNS)
Recognized as Canada's most international bank, the Bank of Nova Scotia has not only solidified its footprint in Canada but has also established a robust presence within the Pacific Alliance.
Impressively, the company has been consistently paying dividends to shareholders for an impressive 190 years! I believe that new investors should hone in on this company's robust dividend track record and its potential for further growth.
So, these are 3 Canadian Stocks for beginners to invest in 2024.