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With inflation and now higher interest rates impacting many Canadians’ budgets, it may be more difficult to save money that you can put away to invest. But if you are able or willing to save money, it is a great time to purchase. TSX Stocks are often very affordable.
Even as little as $1,000 can go a long way, especially if you’re planning to buy and hold these stocks for the long haul. So, if you’ve got some cash you’re looking to invest in this opportune market environment, here are two simple TSX stocks to buy now.
The TSX’s simplest stock to purchase and hold for the long term
If you’re looking for simple TSX stocks to buy now and some that also offer attractive discounts, there may not be a better stock to consider than Pizza Pizza Royalties (TSX:PZA).
The Pizza Pizza Royalties business model is very easy to comprehend. Because of its simple operations, the financial statements of Pizza Pizza Royalties are easy to understand.
The stock doesn’t own or manage the restaurants. It simply receives a royalty based upon the level of sales at each of the restaurants.
To some degree, the profitability of the individual restaurants is important because if they all go out of business, there’s none left to pay royalties. Investors care mainly about the overall sales at all Pizza Pizza, and Pizza73 locations.
And because these sales typically don’t fluctuate much, along with the fact that Pizza Pizza is a well-known brand and considered a lower-cost option when eating out, it’s a simple stock that should be able to weather the storm in the current market environment.
With Pizza Pizza trading at a compelling price and offering a dividend, it is easy to see why. yield of roughly 6.4% after just increasing its payout last month, there’s no question that it’s one of the best and simplest TSX stocks that you can buy now.
A top Canadian telecom stock that’s perfect for long-term investors
The blue-chip telecom stock is another TSX stock to consider buying now, along with Pizza Pizza. BCE (TSX:BCE)(NYSE:BCE).
BCE is well-known in Canada. It’s the parent company of Bell. And BCE’s businesses are pretty straightforward. The wirelines segment of BCE offers services like TV, internet and phone. It also has a wireless section.
BCE has its own media segments. It includes specialty TV channels and sports channels. In addition, it creates some of its own content.
Wireless and wireline are the most crucial segments. They are crucial and therefore highly protective. These are the largest segments. These assets, including 5G towers or cable lines in ground, provide BCE with a steady stream of cash flow.
That’s why it’s such a simple but also an excellent company to buy and hold for the long run. BCE’s resilient and high-quality operations have resulted in a steady increase in its dividend, which is currently at 5.8%.
Therefore, if you’re looking for some of the best TSX stocks to buy now, BCE’s business is quite simple and incredibly attractive if you’re a long-term investor.