1 Magnificent Canadian Dividend Stock Down 40% to Buy and Hold Forever

News Snapshot:

The stock market rally in 2023 was primarily driven by the tech sector. It suggests several companies across multiple sectors continue to trade at a much lower valuation, allowing you to buy the dip and benefit from sizeable gains when market sentiment improves. One such top Canadian dividend stock trading 40% below all-time highs is Magna International (TSX:MG). The ongoing drawdown in this TSX stock has increased its dividend yield to 3.3%. Let’s see why I’m bullish on this blue-chip TSX dividend stock right now. An overview of Magna International Valued at $21.8 billion by market cap, Magna International is...