April 3, 2023—Shareholders weighed in on several political issues at The Walt Disney Company‘s annual meeting. They included votes about its charitable contributions, its political contributions, and its business in China.
Voting is tallied based on the number of shares, and the shares weighed heavily in favor of the company’s recommendations. Furthermore, it should be noted that 64 percent of Disney’s 1.16 billion shares are held by institutional investors.
Shareholder Proxy Votes
On one proxy vote, the National Legal and Policy Center, NLPC, a Disney shareholder and a public-interest nonprofit group, asked Disney to publish an annual report on the company’s dealings in and with China. That vote went down 7.1 shares supporting the proxy measure, 88.9 opposing it, and 4 percent abstaining. In numbers, that is 82 million for, 1,024.3 million against, and 46 million shares not registering a vote.
Another shareholder proposal requesting disclosure of the company’s charitable contribution went down with 85.4 million shares supporting it, 1,062.9 million shares opposing it, and 3.9 million shares not voting.
Finally, a shareholder proposal requesting an annual report on the company’s political expenditures garnered the most support from shareholders. The final vote was: 36 percent shares for it, 63.5 percent against, and 0.25 abstentions. In the number of shares, that is 417 million for, 731.8 million against, and 2.9 million abstaining.
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