Investors looking to multiply their hard-earned savings often wait for the “perfect” moment to buy growth stocks — but by the time those stocks start making headlines, much of the upside is already gone. With the TSX rising sharply on the heels of easing trade tensions and renewed confidence in key sectors, now might be the ideal time to act.
Several Canadian growth stocks are quietly positioning themselves for liftoff, backed by strong fundamentals and powerful long-term trends. In this article, I’ll highlight two top TSX growth stocks I’d consider buying today — before the rest of the market catches on. Interestingly, both of these stocks also reward their investors with attractive dividends year after year.
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Transcontinental stock
Let’s start with Transcontinental (TSX:TCL.A), a company you might not hear often at the top of growth stock lists, but that’s exactly why it might deserve a closer look right now.
Headquartered in Montreal, this company goes beyond printing. It’s a top player in flexible packaging across North America and operates a strong retail services arm, all while being Canada’s largest printer. At $20.69 per share, it’s sitting on a market cap of $1.7 billion and offers a solid 4.4% annualized dividend yield. Over the last year, Transcontinental stock has jumped an impressive 63%.
The company recently sold off a lower-performing packaging unit for $132 million, cut costs, and used the proceeds to pay down debt and buy back shares. It even declared a special $1 dividend on top of its regular payout.
Although Transcontinental’s revenue dipped 5.5% YoY (year over year) in the January quarter, its adjusted net profit still climbed 11% from a year ago, as its printing segment showed real strength. Most importantly, its net debt ratio is now the lowest it’s been since 2018. That gives it the freedom to keep investing for growth and return even more capital to investors.
As a steady business with room to grow and a clear plan to reward patient investors, Transcontinental stock could be a great stock for anyone building a long-term portfolio.
North West Company stock
Another top Canadian business you can consider right now is North West Company (TSX:NWC), especially if you’re building a portfolio of top growth stocks with staying power. Based in Winnipeg, this firm runs over 200 retail stores across remote parts of Canada, Alaska, and even the Caribbean and South Pacific. Its stores sell food, clothing, and household items and offer services like post offices and money transfers.
At $56.58 per share, North West is backed by a $2.7 billion market cap. It also offers a solid 2.8% annualized dividend yield, paid out quarterly. NWC stock has climbed nearly 50% in the past year and recently hit a fresh 52-week high.
With reliable cash flow, expanding store count, and smart investments like its private label strategy, North West is proving it belongs on any serious investor’s list of top growth stocks to own for the long term.
