Proactive Investors - The Toronto Stock Exchange has unveiled the top 30 performing companies listed on the exchange based on their dividend-adjusted share price over a three-year period.
Topping the TSX30 2024 list is Hammond Power Solutions (TSX:HPS.A), a firm that supports electrification through its range of dry-type transformers, power quality products and related magnetics.
Hammond Power Solutions’ dividend-adjusted share price has surged 928% over the past three years.
The TSX30 represent more than $380 in market capitalization, adding $210 billion over the period. On average, the companies achieved a dividend-adjusted share price appreciation of 234%.
The 2024 ranking was dominated by three sectors that accounted for 25 of the 30 companies on the list: oil and gas, industrial products and services, and mining. Energy companies represent more than half of the issuers.
"This year's TSX30 reflects the leadership and innovation of Canadian companies as Canada transitions to a cleaner energy future," TSX CEO Loui Anastasopoulos said in a statement.
"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."
The ranking also indicates a changing investor focus from growth investing to value investing, the TSX highlighted.
Investors prefer companies with positive cash flow and a history of consistent dividends, with nearly two-thirds of the 30 companies paying dividends averaging a 2.8% yield.
The full TSX30 2024 list can be found here.