Year to date, the TSX is down around 11%. Although the markets have rallied in recent weeks, many stocks are still in the red. But there’s one that’s been soaring this year that’s not only a safe investment but that also pays a dividend – Jamieson Wellness Inc. (TSX:JWEL).
The vitamin maker is a popular company with sales all over the world. The company’s health products are proving to be recession-proof as consumers have been stocking up on them even amid the COVID-19 pandemic.
Shares of Jamieson are up 30% year to date and more than 20% in just the past three months. In addition, the stock pays investors a quarterly dividend of $0.11. On an annual basis, that’s a yield of 1.3% -- in most cases, that’s still better than what you’d earn if you held your money in a savings account at your local bank.
The stock’s providing great returns while not being very risky, either. Jamieson’s averaging a beta of less than 0.6, which indicates that it’s not going to follow the market’s movements too closely. And with the COVID-19 pandemic still nowhere near over, it’s important to have that stability in case there is another market crash around the corner.
Whether you’re looking for a long-term investment or just a safe place to hold your cash right now, Jamieson’s a great option. In each of the past 10 quarters, the company’s posted a positive net income figure and its profit margin has not fallen below 4% in any of those periods.
