Investing $1,000 in Canadian stocks may not sound like all that much. But let me tell you, even $1,000 can go a long way. After all, let's say you see just 7% from returns in a year. That's another $70 added by the end of the year! The next year, you'll get $144.90; then $225.04 the year after that; then $310.80 after that. Before you know it, a few years have gone by, and you've almost doubled your money!

With that in mind, there are ways to get that cash even faster. That's through investing not just in the best Canadian stocks but also in the best dividend offering. This is why today, we're going to look at the top three I would invest in with that $1,000 right now.

Dollarama stock

First up, we have Dollarama (TSX:DOL), a company that's gained 42% in the last year alone! Dollaramaâs value proposition with low-cost essential goods makes it a resilient performer during economic downturns. As consumers look to save money, Dollarama's sales remain strong, positioning it well for continued growth regardless of economic conditions.

Dollarama reported a robust fiscal year 2024 with a significant increase in earnings per share (EPS) by 29% to $3.56 and comparable store sales growth of 12.8%. These strong results are driven by effective cost management and strategic pricingâ.

Analysts project continued revenue and earnings growth for Dollarama, supported by its extensive store network and efficient operations. The companyâs focus on expanding its product offerings and maintaining competitive pricing will likely drive further gainsâ. Plus, Dollarama has consistently increased its dividend, with a recent quarterly dividend hike of nearly 30%. This reflects the company's strong cash flow and commitment to returning value to shareholdersâ.

BRP stock

Next, we have a less-obvious option. BRP (TSX:DOO) had a hard time during the pandemic. And that's continued through supply shortages and a rough economic climate. And yet BRP, known for its popular brands like Ski-Doo, Sea-Doo, and Can-Am, has demonstrated robust financial performance.

For the first quarter of FY2025, the company reported earnings per share (EPS) of $0.95, surpassing analysts' expectations of $0.88. Revenue for the quarter was $2.03 billion, slightly above the consensus estimate of $2.02 billion. This consistent ability to exceed expectations underscores BRPâs strong operational execution.

Analysts are optimistic about BRPâs future earnings growth, projecting an increase of 44.32% for the coming year. The companyâs forward price-to-earnings (P/E) ratio stands at a reasonable 9.51, indicating potential for stock price appreciation. And with a nice little 0.88% dividend yield, you'll have extra cash there as well.

CNR stock

Finally, we have Canadian National Railway (TSX:CNR), which has demonstrated robust financial results. In the first quarter of 2024, the company reported earnings per share (EPS) of $1.37, slightly missing the consensus estimate of $1.40. Despite this minor miss, the company posted revenue of $8.24 billion, exceeding analyst expectations of $8.17 billionâ.

CNRâs diverse portfolio and operational efficiency make it resilient against market fluctuations. The company continues to expand its production capacity and invest in sustainable projects, ensuring long-term stability and growth. Notably, the start-up of LNG Canada, the countryâs first export terminal, is expected to enhance the companyâs market position and drive future revenue growthâ.

Canadian Natural Resources is known for its strong dividend payments. The company recently announced an annual dividend of $3.38 per share, reflecting a healthy dividend yield of 2.04%. This consistent dividend payout positions CNR as a top choice for income-focused investors.

The post The Best Canadian Stocks to Buy With $1,000 Right Now appeared first on The Motley Fool Canada.