Investing in quality growth stocks is a strategy that allows you to consistently beat broader market returns and build long-term wealth. In this article, I have identified two TSX stocks you could buy now and hold over the next decade. Let’s see why.
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Is this top Canadian stock a good buy right now?
Valued at a market cap of $47 billion, Dollarama (TSX:DOL) is a popular discount retailer in Canada. The TSX stock went public in late 2009 and has since returned more than 5,000% to shareholders.
Dollarama’s growth story is far from over, given it increased same-store sales growth by almost 5% year over year in the fiscal fourth quarter (Q4) of 2025 (ended in January). The Montreal-based chain posted sales of $1.9 billion for the quarter, a 14.8% year-over-year increase that included an extra week compared to last year. Full-year sales climbed 9.3% to over $6.4 billion, with same-store sales growth of 4.6% for fiscal 2025.
“Throughout fiscal 2025, Dollarama was there for Canadians, delivering compelling year-round value,” said CEO Neil Rossy, highlighting the company’s resilience amid economic uncertainty.
The retailer opened 65 net new stores during the year, bringing its total network to 1,616 locations across Canada. Looking ahead, Dollarama raised its fiscal 2026 store opening guidance to 70-80 net new stores, above its typical 60-70 range, after securing lease opportunities from retailers exiting the market.
However, Dollarama faces challenges from retaliatory tariffs affecting consumable goods imported from the U.S. Rossy acknowledged the impact as “not inconsequential” but “manageable,” noting Dollarama has tools to navigate through product substitutions and pricing adjustments.
For fiscal 2026, Dollarama guided for 3-4% same-store sales growth and gross margins of 44.7% (at the midpoint), reflecting expected headwinds from currency weakness and higher shipping costs. It also announced a 15% dividend increase and plans to accelerate its Mexico expansion, with the first stores opening this summer.
Is this TSX dividend stock undervalued?
A diversified infrastructure company, Brookfield Infrastructure (TSX:BIP.UN) offers a forward yield of 4.9%. In Q1, Brookfield increased its funds from operations by 12% as it continues to advance acquisition plans amid a challenging macro environment.
In the first quarter, the infrastructure investment firm generated FFO (funds from operations) of US$646 million, or US$0.82 per unit, ahead of targets and reflecting strong performance across its diversified portfolio. This growth was driven by inflation indexation, higher revenues, and the commissioning of over US$1 billion from its capital backlog.
“We generated funds from operations ahead of our target and reflective of the strong underlying performance of our business,” said CFO David Krant, highlighting contributions from data centre businesses and midstream investments.
Brookfield’s data segment was the standout performer, with FFO increasing by 50% to US$102 million, driven by organic growth in data centre platforms and acquisitions in India. This comes as demand for data infrastructure remains robust despite some hyperscaler pullbacks.
Brookfield also announced progress on a landmark US$9 billion acquisition of Colonial Pipeline, the largest refined products pipeline system in the United States. The company expects to invest approximately US$500 million in equity for the deal, which values Colonial at about nine times earnings before interest, tax, depreciation, and amortization and offers a mid-teen cash yield.
Moreover, the TSX dividend stock has already secured US$1.4 billion in asset sales this year, which should enhance its liquidity position.
