When most investors think about building a TFSA portfolio, they are often in default of traditional dividend payment shares such as utilities, telecom or banks. And although those sectors do offer stability and reliable income, the best chances sometimes come from places that investors do not expect immediately.
That’s exactly why I think pushy (TSX: GSY) is one of the best shares that Canadians can buy in their TFSAs.
Although Goeesy does not fit in the form of your typical dividend stock, there is no doubt that it is one of the best long -term investments that you can do.
It may not be an enormous usefulness or a blue-chip supply, but it is a company that has built up a powerful niche in financial services, has consistently expanded its activities and rewarded shareholders with not only enormous capital profits, but also a rapidly growing dividend.
And when you invest your hard -earned capital in your TFSA, it is essential to find high -quality and reliable companies, just like Goeesy, which can consistently aggravate your wealth in the long term.
That is why high -quality growth shares are some of the best investments that you can buy in your TFSA in addition to dividend shares. However, what makes good so unique is that it combines the best of both worlds. It is a growth stock with a remarkable record of expansion, and at the same time it is also one of the best dividend growth shares on the TSX.
So if you have cash in your TFSA that you are looking to put to work, this is the reason why Goeasy is one of the best investments you can consider.
Why is one of the best shares that Canadians can buy in their TFSAs?
Goeasy is a specialty financing shares that specializes in loans to the non-Prime Market. This means that it mainly serves customers who usually do not qualify for loans from traditional banks.
So, although some investors or companies can shy away from non-prime lending because of the observed risk, GHEASY has built up a track record that shows how well it manages this company.
Over the years, for example, because it has expanded its loan book quickly and as various economic environments have come and gone, GHEASY has succeeded in keeping its loading rates relatively stable, usually around 9%.
So not only is the growth of the long term attractive, but the fact that it has done such an impressive work to manage its risk and grow his profit margins is what makes it one of the best shares that Canadians can buy in their TFSAs.
In just the last five years, Gheasy’s income has risen from $ 610 million in 2019 to around $ 1.5 billion in 2024, an increase of around 151%.
Moreover, the normalized profit per share increased in the same piece from $ 5.17 in 2019 to $ 16.71 last year, an increase of approximately 232%.
So not only does it rapidly expand its activities and it stimulates an impressive turnover growth, it actually grows its profitability even faster.
That is why, in addition to the incredible growth potential it offers, it is also one of the few fast -growing shares that offers a considerable dividend.
Today, Goeesy’s forward yield is around 3.4%. That is lower than most slow-growing dividend shares, but it is much higher than most fast-growing shares. Moreover, the annual dividend from Gheasy has risen from $ 1.80 to $ 5.84 in the last five years, an increase of 224% in just half a decade.
That is why there is no doubt that in mind I is one of the best shares that Canadians can buy in their TFSAs, but is it worth buying at today’s prices?
Is good worth buying at today’s prices?
With a Peele Trade at around $ 173 per share at the time of writing, the share is in the middle of the range of 52 weeks, which suggests that today it can offer value, because it can be approximately 20% discount at its 52 weeks high.
In addition, the forward price-gain ratio (p/e) of 8.5 times is below the average P/E ratio of five years of 10.5 times. In the meantime it is ahead dividend yield From 3.4% is higher than the average forward yield of five years of 2.8%.
Therefore, given the quality of the GOEASY company, the long -term growth potential and the fact that it currently trades at an undervalued price, there is no doubt that it is one of the best Canadian shares to buy in your TFSA today.
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