3 TSX Stocks I’m Buying and Holding Until 2030

Canada is set to see a record number of citizens enter their senior years, 65 and over, in the next few decades. Our country is not alone. Indeed, many other countries in the developed world are grappling with aging populations. This, in turn, puts more pressure on the political, economic, and social climates of these countries.

In 2010, 14% of the Canadian population was 65 years of age or older. By 2030, Canada’s elderly population will be 22% of the total by 2030.

Today, I want to zero in on three TSX stocks that I’m looking to buy and hold until we hit the 2030 mark.

Why I am so bullish on this TSX stock in the long haul

Park Lawn (TSX:PLC) is a Toronto-based company that owns and operates cemeteries, crematoriums, and funeral homes in Canada and the United States. Shares of this TSX stock are up 1.7% year to date in 2023 through the close on Thursday, July 13. Park Lawn stock is down 5.3% year to date.

Investors should be excited about the domestic and global death care industry. In fact, this space has seen a huge increase in engagement during the COVID-19 pandemic. Meanwhile, North America’s aging population is set to fuel its growth going forward.

This company released its first quarter of fiscal 2023 earnings on May 11. Park Lawn reported revenue growth of 4.3% to $86.7 million in the first quarter of fiscal 2023. EBTIDA stands for earnings of before interest, taxes, depreciation, and amortization. Park Lawn reported adjusted EBITDA of $20.5 million in the first quarter of 2023 – down 4.1% compared to last year.

Shares of this TSX stock are trading in favorable value territory compared to its industry peers. In addition, Park Lawn offers a quarterly dividend of $0.114 per share. That represents a modest 1.8% yield.

Here’s another TSX stock poised for growth as the aging population explodes

Jamieson Wellness (TSX:JWEL) is a Toronto-based company engaged in the development, manufacture, distribution, marketing, and sales of natural health products, including vitamin, herbal, and mineral supplements in nutrition for people in Canada, the United States, and internationally. This TSX stock was down 5.6% month over month ending July 13. Its shares are now down 20% year-to-date.

This TSX stock made its TSX debut back in July 2017. Then chief executive officer Mark Hornick stated that Jamieson is poised for strong growth on the back of Canada’s aging population. Health consciousness has experienced a significant boost in the face of the COVID-19 pandemic. That’s good news for Jamieson.

In the first quarter of fiscal 2023, this company delivered consolidated revenue growth of 31% to $136 million. Meanwhile, Jamieson delivered adjusted EBITDA of $24.5 million – up from $20.9 million in the first quarter of fiscal 2022.

Jamieson ultimately has a rock-solid price-to-earnings ratio of 23. That puts Jamieson in good value territory compared to its industry peers. The TSX offers a quarterly distribution of $0.17 per share, representing a 2.4% yield.

The aging demographic should encourage Canadians to snap up this REIT

Chartwell Retirement Residences REIT (TSX:CSH.UN) is the third stock on the TSX that I’m looking to catch on the breakout. This real estate investment trust (REIT) owns and operates a complete range of senior housing communities, from independent assisted living through assisted living to long-term care. Shares of this REIT jumped 1% on July 13.

This REIT released its first quarter fiscal 2023 earnings on May 4. Resident income rose to $165 million in the first quarter of fiscal 2023 — up from $157 million last year. Additionally, same-property adjusted net operating income increased to $49.6 million compared to $46.0 million in the first quarter of 2022. This TSX stock offers a monthly dividend of $0.051 per share, representing a tasty 6.5% yield.