Now in its sixth year, the Toronto Stock Exchange’s TSX 30 list is once again revealing the strength and innovation in Canada’s energy ecosystem. The list of high quality Canadian companies includes those active in energy security and powering electrification innovation.
As evidence of this, topping the list is Hammond Power Solutions TSX:HPS.A which provides critical infrastructure to renewable energy projects.
The 2024 TSX30 companies represent a combined market cap of over a third of a trillion dollars, this is an increase of more than 50% in just three years, demonstrating the significant value creation the Canadian economy has been delivering to investors through TSX-listed companies.
Energy industry companies make up more than half of the TSX30 this year, while half of the ranking mining companies are focused on the base metals that are critical for EVs, batteries and the energy transition. Companies like Athabasca Oil and Cameco are driving investor returns while actively contributing to a sustainable energy future, showcasing the Canadian companies that are driving global growth.
Nine of this year’s TSX30 companies graduated from TSXV, showcasing how this unique two-tiered ecosystem can nurture emerging businesses in growing their market capitalization and investor exposure. Fourteen of the 2024 TSX30 companies have appeared in previous TSX30 rankings (since 2019), with their collective dividend-adjusted share prices up 210% and market capitalization rising 147% during that time.
“This year’s TSX30 reflects the leadership and innovation of Canadian companies as Canada transitions to a cleaner energy future,” said Loui Anastasopoulos, CEO of the Toronto Stock Exchange. “These top performers are shaping the future of Canada’s economy and ensuring our strengths in energy and mining align with the emerging technology sector to keep Canada competitive on the global stage.”
Other highlights from the 2024 ranking include:
- Technology is a driving force: In second place in the TSX 30 is Celestica TSX:CLS, which provides solutions from clean energy generation and grid stability for renewables through to EV charging infrastructure and smart building technologies. Technology companies in this year’s ranking achieved the largest share price appreciation (324%) and market cap increases (576%).
- Dividend payouts: Nineteen out of the 30 issuers in the TSX 30 are paying a dividend to investors, with an average yield of 2.8% in 2024. This is significantly higher than three years ago when the eight companies that paid dividends did so with an average yield a full point lower.
For a downloadable list and further information about the ranking methodology, visit: money.tmx.com/tsx30.
The 2024 TSX30® ranking:
Source: All data sourced from TSX/TSXV Market Intelligence Group, 10th September 2024.
