LAKE SUCCESS, N.Y., Sept. 17, 2013 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (BR), reported that its technology-solutions drove record savings for corporate issuers in the 2013 proxy season. According to its newly released 2013 Proxy Season Statistics Report, Broadridge's technologies and processing solutions helped issuers avoid expenditures of over $690 million, in total, on the estimated printing and postage costs of mailing full sets of proxy materials to beneficial shareholders. Over 62% of all positions were delivered electronically, or consolidated, by processing for managed accounts and accounts in the same household. Moreover, 95% of the shares cast through Broadridge were voted electronically through one or more of its platforms.
"Broadridge and its clients have once again demonstrated their deep commitment to investments in technology. As a result, U.S. companies and their shareholders realized even greater communications efficiencies and voting conveniences this season," stated Bob Schifellite, President, Investor Communication Solutions, Broadridge.
The report notes that use of Broadridge's Mobile ProxyVote.com platform nearly doubled over last season, and that the number of Virtual Shareholder and electronic shareholder forums hit an all-time high. Shareholder utilization of Broadridge technologies is increasing across the proxy process. This season, 28.6 billion shares were voted through the Company's Internet voting platform, proxyvote.com, two times the number voted by paper ballot.
The 2013 Proxy Season Statistics Report covers proxies mailed between March 1 and June 14, 2013.
In addition to reporting on proxy season statistics, Broadridge announced collaboration with PwC's Center for Board Governance earlier this year. That collaboration provides insights on shareholder voting trends through a ProxyPulse™ report.
Broadridge Financial Solutions, Inc. (BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge's investor communications, securities processing and business process outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,400 full-time associates in 13 countries. For more information about Broadridge, please visit www.broadridge.com.
Media Contact for Broadridge Financial Solutions, Inc.:
Jenna J. Focarino
The Torrenzano Group
- Professional Services