When you’re investing with just $1,000, Canadian investors need to make every dollar count! Look for stocks that are undervalued or have strong growth potential, but don’t forget about dividends. Those payouts can help your money grow faster. Focus on companies with solid fundamentals like a strong balance sheet and consistent earnings growth. It’s also smart to pick industries that are set to thrive in the long term. And remember, don’t put all your eggs in one basket. Diversify a bit to balance out risk! That’s why today, we’re looking at three options to get you diversified and making that cash.
Pizza Pizza
If you’re thinking about investing your $1,000, Pizza Pizza Royalty (TSX: PZA) could be a tasty option, especially if you’re after solid dividends. With a forward annual dividend yield of 7.05% as of writing, you’re looking at some nice passive income while you wait for potential growth. The company’s trailing price-to-earnings (P/E) ratio of 13.47 shows it’s relatively affordable. And even though quarterly revenue growth dipped slightly year over year, its profit margin is still a juicy 77.86%. Plus, Pizza Pizza’s reliable revenue stream and operating margin of 98.05% show it’s running a tight ship.
PZA is currently trading at the lower end of its 52-week range, hovering around $13, which might give you a decent entry point if you’re looking to buy low. The stock is also less volatile, with a beta of 0.91, meaning it won’t give you too many surprises. With a market cap of $434.39 million and a decent cash flow of $32.03 million, it’s positioned well for steady performance. And don’t forget the dividend payout coming up in mid-October, which adds to its appeal!
Fiera Capital
If you’re thinking about investing $1,000, Fiera Capital (TSX: FSZ) on the TSX could be a smart option, especially if you’re after dividends. With a forward annual dividend yield of 10.39% at writing, you can generate some nice passive income while your money works for you. Despite some challenges, including a quarterly earnings dip of 53.30% year over year, Fiera’s revenue grew by 3.10%, thus showing resilience in a tough market. Plus, its return on equity is a solid 22.95%, highlighting efficient management. At a current price of around $8.34, it’s trading below its 52-week high, therefore offering a potential value play.
Fiera Capital also has a strong balance sheet with $164.58 million in operating cash flow, ensuring it can cover its dividend payments. While its debt is high, the company has a plan to grow. And its market cap of $887.32 million positions it as a well-established player. Given its low P/E ratio of 7.60, Fiera could be an attractive choice if you’re looking for value, growth potential, and juicy dividends to make the most of your $1,000.
JPMorgan ETF
If you’re looking to make the most of your $1,000, JPMorgan Nasdaq Equity Premium Income Active ETF (TSX: JEPQ) could be a great option, especially if you’re after income with a tech twist. JEPQ focuses on premium income by investing in some of the biggest names in the Nasdaq, while also employing an options strategy to enhance income. This makes it ideal for investors who want exposure to high-growth tech stocks but also want the security of steady income. It’s a bit like having your cake and eating it, too!
As of now, JEPQ offers a solid yield. Plus, with tech stocks still playing a leading role in innovation and growth, you’ll have a chance to tap into long-term upside while collecting income along the way. The fund’s active management also allows it to respond quickly to market changes, giving you a dynamic way to invest without having to constantly keep an eye on things.
