As a Canadian investor, you could do very well for yourself by investing solely in domestic stocks. However, if you asked me, I’d say that investing internationally could be greatly beneficial to your portfolio. It could provide you with additional stability, since there are excellent international companies that have long histories of excellence.
In this article, I’ll discuss three U.S. stocks that Canadian investors can buy and hold forever. I think these stocks can all add stability to your portfolio, while providing a bit of growth potential.
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This is a massive company
Walmart (NYSE:WMT) is the first U.S. stock that Canadians should consider buying today. With more than 400 locations across the country, Canadians should be very familiar with this company. To further illustrate its reach, Walmart has nearly 10,600 locations across 24 countries. There are very few companies that have managed to achieve the scale that Walmart boasts. Within its stores, consumers can find a variety of products at low prices, making it a very attractive place to shop in today’s economy.
In the second quarter (Q2) 2023, Walmart reported US$153 billion in revenue. That represents a year-over-year increase of 8.4%. Those are impressive results considering consumer spending is at very low levels at the moment. Walmart’s continued strength allows it to maintain its dividend. Speaking of which, Walmart has notably increased its distribution in each of the past 49 years.
The first stock I ever owned
Procter and Gamble (NYSE: PG) is the second stock that Canadians should consider adding to their portfolios. This company may not be the most recognizable name for the everyday individual. However, I’m sure you’ll be very familiar with its brands. This company is responsible for big names such as Bounty, Gillette, Old Spice, Pampers, Swiffer, and Tide, among many others. All considered, Procter and Gamble’s portfolio consists of more than 60 brands.
As the subtitle suggests, Procter and Gamble was the very first stock that I added to my portfolio. I was attracted to this company’s large portfolio and outstanding dividend history. In fact, Procter and Gamble’s dividend-growth streak is tied for the longest among all North American-based companies. It has managed to increase its distribution in each of the past 66 years. With a forward dividend yield of 2.69%, Procter and Gamble should be a welcome stock to any Canadian investor’s portfolio.
A top company for your portfolio
Finally, Canadians should add Coca-Cola (NYSE: KO) to their portfolios today. This is one of the largest beverage companies in the world. It’s estimated that Coca-Cola holds a 47% share of the global soft drink industry. However, what makes this company even more impressive is the breadth of products in its portfolio. Coca-Cola produces popular drinks such as Dasani, Fanta, Minute Maid, and Powerade.
Like the other two stocks mentioned in this article, Coca-Cola has a long history of increasing its dividends. It currently holds a 60-year dividend-growth streak. It should be noted that Coca-Cola also offers investors a very attractive dividend yield of 3.00%. Coupling that dividend with an outstanding 32% gain in stock value over the past five years, investors sure have a lot to like here.
