The Wall Street Journal cites newly released data by proxy processor Broadridge Financial Solutions in reporting that “U.S. companies cut another $39.4 million from the cost of sending out their full proxy packages this year.” Indeed, for 2012, companies and mutual funds are on pace to collectively spend $385.6 million printing and mailing over 12,000 proxy packages and positions. That is down from the $425 million tallied in 2011. Broadridge, which processes proxies for more than 90 percent of the public companies and mutual funds in North America, will present its full study at a meeting of the Society of Corporate Secretaries & Governance Professionals later this week.
Companies may spend $386m on proxies in 2012, Broadridge reports
U.S. companies cut $39.4 million from the cost of sending out proxy packages this year, reports Broadridge Financial Solutions.
July 11, 2012