As markets wrestle with short-term disruptions due to inflationary pressures, policy uncertainty, and geopolitical friction, value stocks are back in focus. Many value stocks have lagged growth-oriented peers in recent years. However, as the investment cycle matures and macro trends shift, Canadian stocks with strong fundamentals and attractive valuations could lead the next leg higher.
So, if you’ve got the patience to look past the day-to-day headlines, you might find yourself holding one of the best-performing stocks of the decade. In this article, I’ll highlight two dividend-paying Canadian value stocks that I believe could shine between now and 2030.
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Brookfield Asset Management stock
The first value stock worth considering right now is Brookfield Asset Management (TSX:BAM), a stock that has the potential to be one of the best performers of the decade. This alternative asset manager currently has over US$1 trillion in assets under management. It mainly focuses on real assets and essential service businesses like infrastructure, renewable energy, private equity, real estate, and credit.
Although BAM stock has seen 28% gains for the last year, the broader market volatility has driven it down by over 14% over the two months. As a result, the stock currently trades at $73.66 per share with a market cap of $120.6 billion. And for income-seeking investors, it offers a quarterly dividend with a current annualized yield of 3.4% — not bad at all for a value-focused holding.
Brookfield Asset Management’s growth story remains largely unaffected by the ongoing macroeconomic concerns. In the fourth quarter of 2024, the company delivered record fee-related earnings of US$677 million with a 17% YoY (year-over-year) increase despite a minor drop in its total revenue. That growth was driven by massive capital inflows of US$137 billion in 2024, with US$29 billion raised in just the last quarter. BAM’s quarterly distributable earnings also saw a healthy bump, rising 11% YoY.
Notably, BAM deployed US$48 billion across its investment verticals last year and now controls 100% of its asset management business following a simplification deal with Brookfield Corporation. Given its continued focus on fast-growing sectors like infrastructure and energy transition, BAM stock could continue to benefit from global demand for real assets.
Couche-Tard stock
Another value stock that has remained under pressure lately but still deserves a spot on your watch list, is Alimentation Couche-Tard (TSX:ATD). This Laval-based giant is best known for its Circle K and Couche-Tard convenience stores, spread across 29 countries. It currently operates a global network of about 17,000 convenience retail and fuel distribution stores.
After diving by 12% year to date, ATD stock now trades at $70.08 per share, giving it a market cap of $66.3 billion. It also pays out a quarterly dividend with a current annualized yield of around 1.1%.
In the most recent quarter ended in January 2025, Couche-Tard’s revenue rose 6.5% YoY to US$20.9 billion due to stronger fuel margins and the benefits of recent acquisitions. More importantly, its adjusted quarterly earnings climbed by 4.6% from a year ago to US$0.68 per share as it continued to focus on cost control and operational efficiencies.
Last quarter, the Canadian retail giant added 38 new stores to its network, completed construction on 31 more, and is steadily rolling out its successful food offerings across borders. In addition, it remains on track to achieve major synergies from its European expansion through the TotalEnergies deal. These strong fundamental factors could improve its financial growth trends and drive ATD stock higher in the years to come.
