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Electronic Proxy Voting Increasing

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

By Shaunacy Ferro | Updated on July 12, 2012

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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