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For the second consecutive year, Victorian Funds Management Corporation (VFMC) has been ranked number...
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Voting at company Annual General Meetings (AGMs) provides investors like VFMC with a formal means to exercise ownership rights, hold company management accountable and potentially send a signal on any issues at hand. Contentious issues can arise for resolutions being voted on, and companies can be encouraged to respond if/where strong investor support is not received.
Key voting themes over 2021- 2022 focussed on:
For the 2021-2022 financial year, VFMC voted on 1,164 Australian resolutions and 5,144 international resolutions.
The table below provides an overview of voting statistics for the twelve months ended 30 June 2022.
Australia |
---|
Type of resolution | Total | For | Against | Abstain | Take no action |
---|---|---|---|---|---|
Number of meetings | 221 | ||||
Number of resolutions voted on | 1164 | 961 | 164 | 26 | 13 |
Director elections | 480 | 427 | 47 | 3 | 3 |
Remuneration reportsĀ / other remuneration matters | 476 | 399 | 60 | 12 | 5 |
Shareholder resolutions | 36 | 2 | 32 | 2 | 0 |
Other | 172 | 133 | 25 | 9 | 5 |
The table below provides an overview of voting statistics for the twelve months ended 30 June 2022, as voted by CGI Glass Lewis on behalf of VFMC.
International |
---|
Type of resolution | Total | For | Against | Abstain | Take no action |
---|---|---|---|---|---|
Number of meetings | 415 | ||||
Total number of resolutions voted on | 5144 | 4689 | 410 | 15 | 30 |
Director elections | 3081 | 2903 | 152 | 3 | 23 |
Remuneration reportsĀ / other remuneration matters | 631 | 545 | 86 | 0 | 0 |
Shareholder resolutions | 251 | 106 | 141 | 4 | 0 |
Other | 1181 | 1142 | 31 | 8 | 0 |
Voting records will be updated each year after June 30 and December 31.
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