Electronic Proxy Voting Increasing

Companies saved $522 mln this proxy season via electronic delivery, voting, Broadridge says.

More public companies see value in electronic delivery of proxy materials and electronic voting, according to annual statistics from Broadridge, a technology services company that provides proxy services for investors who own shares through brokerage firms.

In fact, Broadridge, which handles 90% of proxy activity for shares held in street name, estimates that its technology saved corporate issuers more than $522 million this proxy season by reducing printing and mailing costs for proxy materials—which cost an average of around $5.80 per package—and helping companies consolidate the materials they do mail.

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