List of Canada Industry Group TSR Medians
List of Industry Group TSR Medians for Pay for Performance Policy
The lists below identify the quarterly median one-year and three-year total shareholder returns (TSR)1 for each respective Canadian Global Industry Classification Standard (GICS®)2 group. ISS downloads TSR performance data as of March 31, June 30, September 30 and December 31 for each four-digit industry GICS group to determine the median applicable for TSX Composite Index companies.
As executive compensation is reported on a fiscal year basis which varies by company, the lists below will only apply to those companies that have fiscal year-ends within the stated period for the applicable median TSR download. The applicable medians will correspond to a TSX Composite index issuer’s fiscal year end as follows (click to display):
December 31, 2011 list – applicable for fiscal years ending November 15, 2011 - February 14, 2012
| GICS | Industry Group | Median One Yr TSR | Median Three Yr TSR |
| 1010 | Energy | -16.43% | 15.17% |
| 1510 | Materials | -37.06% | 29.58% |
| 2010 | Capital Goods | -10.66% | 18.03% |
| 2020 | Commercial Services & Supplies | 5.04% | 28.46% |
| 2030 | Transportation | 4.15% | 24.72% |
| 2510 | Automobiles & Components | -19.99% | 24.46% |
| 2520 | Consumer Durables & Apparel | -27.96% | 13.19% |
| 2530 | Hotels Restaurants & Leisure | 3.73% | 22.95% |
| 2540 | Media | -9.75% | 14.60% |
| 2550 | Retailing | -12.71% | 13.02% |
| 3010 | Food & Staples Retailing | 6.67% | 15.21% |
| 3020 | Food, Beverage & Tobacco | -3.64% | 9.49% |
| 3510 | Health Care Equipment & Services | 19.16% | 22.54% |
| 3520 | Pharmaceuticals & Biotechnology | -34.65% | 1.22% |
| 4010 | Banks | 1.86% | 25.38% |
| 4020 | Diversified Financials | -9.82% | 17.99% |
| 4030 | Insurance | -21.77% | 6.63% |
| 4040 | Real Estate | 12.63% | 32.67% |
| 4510 | Software & Services | 4.20% | 21.30% |
| 4520 | Technology Hardware & Equipment | -26.71% | 2.71% |
| 4530 | Semiconductors & Semiconductor Equipment | -9.51% | 21.11% |
| 5010 | Telecommunication Services | 17.68% | 18.40% |
| 5510 | Utilities | 1.70% | 14.59% |
September 30, 2011 list – applicable for fiscal years ending August 15, 2011 - November 14, 2011
| GICS | Industry Group | Median One Yr TSR | Median Three Yr TSR |
| 1010 | Energy | -10.87% | -5.01% |
| 1510 | Materials | -13.04% | 11.63% |
| 2010 | Capital Goods | -2.52% | 4.40% |
| 2020 | Commercial Services & Supplies | 8.15% | 14.04% |
| 2030 | Transportation | 2.82% | 4.62% |
| 2510 | Automobiles & Components | -16.20% | 4.27% |
| 2520 | Consumer Durables & Apparel | -5.57% | 4.83% |
| 2530 | Hotels Restaurants & Leisure | 6.83% | 8.82% |
| 2540 | Media | -3.06% | 2.42% |
| 2550 | Retailing | -12.51% | 3.44% |
| 3010 | Food & Staples Retailing | 4.31% | 12.47% |
| 3020 | Food, Beverage & Tobacco | -4.19% | 1.92% |
| 3510 | Health Care Equipment & Services | -8.85% | 2.74% |
| 3520 | Pharmaceuticals & Biotechnology | -28.57% | -15.66% |
| 4010 | Banks | 3.32% | 9.54% |
| 4020 | Diversified Financials | -0.14% | 5.14% |
| 4030 | Insurance | -6.58% | -5.94% |
| 4040 | Real Estate | 8.69% | 15.16% |
| 4510 | Software & Services | 2.49% | 17.46% |
| 4520 | Technology Hardware & Equipment | -18.78% | -3.25% |
| 4530 | Semiconductors & Semiconductor Equipment | 9.98% | -2.02% |
| 5010 | Telecommunication Services | 15.54% | 6.96% |
| 5510 | Utilities | 8.22% | 7.21% |
TSX Composite issuers with TSRs below their GICS peer group median one- and three-year TSR figures will not necessarily receive withhold / against recommendations on their compensation committee members or equity-based compensation plans. Rather, this comparison serves as an initial screen to identify underperforming companies for the purposes of ISS’ Pay for Performance policy. If an issuer is underperforming in relation to its respective one- and three-year medians, ISS will apply a case-by-case approach when evaluating CEO pay in relation to company performance under the Pay for Performance policy.3
For GICS® group inquiries, please email spgics@standardandpoors.com
1ISS utilizes S&P's Compustat database for TSR calculated values. The Total Return concepts are annualized rates of return reflecting price appreciation plus reinvestment of dividends (calculated monthly) and the compounding effect of dividends paid on reinvested dividends.
2GICS® is a registered trademark of Standard & Poors.
32012 ISS Canadian TSX Proxy Voting Guidelines, pages 24-25. For more details on ISS' 2012 policy guidelines, please visit 2012 Policy Information.