Red Deer-based Parkland Fuel Corp. (TSX: PKI) is being added to the S&P TSX Composite Index.
The S&P/TSX Composite Index is considered the primary indicator of the Canadian equity market, with the largest companies on the Toronto Stock Exchange included there. Sub-indices include equity indices, income trust indices, capped indices, GICS indices and market cap based indices.
Parkland is scheduled to join the S&P TSX Composite Index on Dec. 19.
“Our addition to the S&P TSX Composite Index, the principal benchmark measure for Canada’s equity markets, represents a significant milestone in our 42-year history as a public company, and is the result of the rapid growth achieved by Parkland in the last five years,” said Bob Espey, Parkland’s president and CEO, in a news release. “We look forward to the increased exposure and visibility that comes with being a member of the S&P TSX Composite Index.”
The S&P/TSX Composite Index is maintained by Standard & Poor’s Financial Services LLC, whose S&P Indices is the world’s leading index provider. Its other indices include the S&P 500.
Parkland is Canada’s largest independent marketer and distributor of petroleum products.