April 25, 2024
Industrials
NPS voted against 10% proposals in shareholders meetings
[THE INVESTOR] South Korea's sate-run pension fund actively exercised its voting rights this year and opposed one out of 10 proposals at shareholders meetings, according to data on Dec. 14.
The National Pension Service, the operator of the fund, voted against 320, or 9.6 percent, out of 3,344 resolutions made this year at shareholders meetings of the companies it has invested in, according to the data compiled by industry tracker CEO Score.
The tally was based on the votes the NPS took part in at 654 shareholders meetings at 586 companies.
The fund had been casting more opposing votes in the past few years, accounting for 6.6 percent in 2009, 8.1 percent in 2010 and 7.0 percent in 2011. In 2012, the comparable figure was 17 percent but fell to 10.8 percent in 2013, earlier data showed. Last year, the figure stood at some 10 percent as well.
The dissenting votes were mostly on dividend payment and the reelection of executives as board members and auditors, according to the data.
(theinvestor@heraldcorp.com)
The National Pension Service, the operator of the fund, voted against 320, or 9.6 percent, out of 3,344 resolutions made this year at shareholders meetings of the companies it has invested in, according to the data compiled by industry tracker CEO Score.
The tally was based on the votes the NPS took part in at 654 shareholders meetings at 586 companies.
The fund had been casting more opposing votes in the past few years, accounting for 6.6 percent in 2009, 8.1 percent in 2010 and 7.0 percent in 2011. In 2012, the comparable figure was 17 percent but fell to 10.8 percent in 2013, earlier data showed. Last year, the figure stood at some 10 percent as well.
The dissenting votes were mostly on dividend payment and the reelection of executives as board members and auditors, according to the data.
(theinvestor@heraldcorp.com)
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