NEW YORK, Dec. 7, 2021 /PRNewswire/ -- Old
Dominion Freight Line Inc. (NASD:ODFL) will replace Kansas City
Southern (NYSE:KSU) in the Dow Jones Transportation Average (DJTA)
effective prior to the opening of trading on Tuesday, December 14.
The index change was prompted by the anticipated closing of the
voting trust portion of a merger in which KSU will be acquired by
Canadian Pacific Railway Limited (NYSE and TSX:CP). The merged
company will be incorporated and headquartered in Canada and therefore will not be eligible for
the Dow Jones Transportation Average which includes companies
incorporated in the U.S.
The change won't disrupt the level of the index. The divisor
used to calculate the index from the components' prices on their
respective home exchanges will be changed prior to the opening on
December 14, 2021. This procedure
prevents any distortion in the index's reflection of the portion of
the U.S. stock market it is designed to measure. The new divisors
can be found in the end-of-day index level files (*.SDL) via the
S&P Dow Jones Indices FTP (EDX) site beginning on Monday, December 13, 2021.
Following is a summary of the changes that will take place prior
to the open of trading on the effective date:
|
Effective
Date
|
Index
Name
|
Action
|
Company
Name
|
Ticker
|
GICS
Sub-Industry
|
|
Dec. 14,
2021
|
DJTA
|
Addition
|
Old Dominion Freight
Line
|
ODFL
|
Trucking
|
|
|
Deletion
|
Kansas City
Southern
|
KSU
|
Railroads
|
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visit www.spdji.com
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SOURCE S&P Dow Jones Indices