Most countries in the developed world are facing an unprecedented demographic shift that will test the limits of our social and economic systems in the years and decades ahead. Indeed, Canada’s senior population is projected to reach 10.4 million by 2037. The 75+ age group is set to double in the 20-year forecast period starting in 2017.
Sienna Senior Living (TSX:SIA) is the first stock I’d look to target as we contemplate these demographic shifts. This Markham-based company provides senior living and long-term care (LTC) services in Canada. Its shares have dropped 5.8% in 2023 as of close on March 23. The stock is down 32% compared to the previous year.
In 2022, the company delivered adjusted revenue growth of 10% to $736 million. Meanwhile, average same property occupancy hit 87% for its retirement segment over 80% in the prior year. This dividend stock is trading in solid value territory compared to its industry peers. Better yet, it offers a monthly dividend of $0.078 per share. That represents a monster 9% yield.
Jamieson Wellness (TSX:JWEL) is a Toronto-based company that develops, manufactures, distributes, markets, and sells natural health products in North America and around the world. Its shares have dropped 10% in the year-over-year period.
The natural health product and supplements market has achieved strong growth in large part due to increased demand among aging consumer cohorts. Its shares possess a favourable price-to-earnings ratio of 24. Jamieson offers a quarterly dividend of $0.17 per share, which represents a 2.1% yield.
