Standard & Poor’s Canadian Index Operations is increasing the relative weight of Shoppers Drug Mart Corp. (TSX: SC) in several of its indices.

The relative weigh of Shoppers will increase by approximately 0.11% in the S&P/TSX Composite and Capped Composite Indices, by 0.70% in the S&P/TSX MidCap Index, by 2.31% in the S&P/TSX Capped Consumer Staples Index and by 0.12% in the TSX 100 Index. The change is effective after the close of business on Wednesday, May 21.

S&P says the relative weight change reflects an adjustment to the float shares of the company due to the sale of a portion of shares from a control position.