“With a recession on the horizon, consumers will be looking to save money. Eating at home more often compared to dining-out will be a thing. Loblaw will benefit from this trade-down effect.”

Loblaw (TSE: L)

A Canadian retailer encompassing supermarkets, pharmacies, banking, and apparel.

• Well-positioned to benefit from discounted grocery brands and return to back-at-home consumption behaviour post pandemic as inflationary environment lingers
• Grown their dividend per share by 7.5% over the past 5 years. 

Johnson & Johnson (NYSE: JNJ)

An American multinational corporation that develops medical devices, pharmaceuticals, and consumer packaged goods.

• Sustainable growth from patients consuming life-saving medications and Over The Counter brands (ex. Tylenol) no matter the economic environment
• Raised their dividend for 60 consecutive years