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AGM season

This Month

Investors want more detail on AGL’s transition plan ahead of AGM

Sparks look set to fly over the directors nominated by Grok Ventures and the extent to which its transition plan aligns with the Paris climate goals.

  • Angela Macdonald-Smith

Investors warned of ‘false assumptions’ in carbon credits

A contrarian fund manager has called on shareholders to ask questions about their investments’ use of ACCUs this AGM season.

  • Lucy Dean

September

Suncorp says ANZ or flying solo better than regional bank deal

At the financial conglomerate’s annual meeting, shareholders wanted to know why they didn’t get to vote on the proposed bank sale.

  • Updated
  • Liam Walsh

Sales surge at grocery group Metcash in shift to local shopping

The group, which supplies the IGA and Foodland stores, told investors at the AGM sales are up 8.9 per cent so far this fiscal year.

  • Updated
  • Carrie LaFrenz

August

Webjet faces ‘customer service spikes’ as cancellations jump

Webjet is hiring more staff to deal with a wave of problems from flight cancellations, but customers are still saying: ‘I can’t get a response’.

  • Liam Walsh
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Demand for battery metals helps boost testing profits: ALS

Profits were upgraded at the laboratory giant’s annual general meeting, but one director faced a workload backlash.

  • Liam Walsh

July

Macquarie warns of ‘softening’ after bumper quarter

Macquarie Group chief executive Shemara Wikramanayake has repeated warnings that earnings may ease from last year’s record levels as uncertainty leads to less dealmaking and asset prices fall.

  • Updated
  • Ayesha de Kretser

‘Capital-hungry’ AACo continues 14-year dividend drought

The beef giant says it is watching out for inflation pressures and foot and mouth disease.

  • Liam Walsh

May

Dalrymple Bay investors question cost of move to renewables

The Queensland coal export terminal’s CEO says buying renewable energy will make it easier for it to get financial loans at attractive rates.

  • Jenny Wiggins

‘Why do we get stuff-all?’: AMP shareholders demand dividend

Shares fall as the board promises to return capital to shareholders but will not commit to paying a dividend after a four-year wait.

  • Aleks Vickovich

Woodside rapped on climate as investors embrace $63b BHP deal

An enlarged Woodside Petroleum looks set to come under intensified pressure to set scope 3 emissions targets after an embarrassing 48.97 per cent shareholder vote against its climate report.

  • Updated
  • Angela Macdonald-Smith

Alarm sounds on Mike Cannon-Brookes’ AGL move

Ownership Matters raises alarm about the way in which Mike Cannon-Brookes has assembled his 11.3 per cent stake, but the billionaire insists there is ‘no financial wizardry’.

  • Updated
  • Jonathan Shapiro and Angela Macdonald-Smith

Atlas Arteria digs down on US toll road restructure

The toll road company needs to restructure its US road to free up cash but is confident drivers will keep using its more profitable French roads despite war in Europe.

  • Jenny Wiggins

Woodside’s ‘detail-light’ climate plan faces AGM heat

The oil and gas giant is for the first time asking investors to vote on its climate change report. An influential proxy adviser has recommended a vote against.

  • Liam Walsh

QBE tips $100m Ukraine war cost on political risk insurance

The Sydney-based insurer covers risks across the globe, and even Russia’s invasion of Ukraine is affecting policies.

  • Updated
  • Liam Walsh
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Santos hit with first ‘strike’ over pay

Chairman Keith Spence said analysis by proxy adviser ISS of a $6m bonus for CEO Kevin Gallagher was flawed, but it didn’t help in the end.

  • Updated
  • Simon Evans and Angela Macdonald-Smith

April

Santos blasted for ‘excessive’ CEO pay

A $6 million incentive for Kevin Gallagher means he got triple the median of his peers, said ISS, who urges investors to reject pay and climate resolutions at the AGM.

  • Angela Macdonald-Smith

As COVID barriers loosen, welcome to the hybrid AGM

G8’s meeting gave a guide to how AGMs might look this year after two years of online gatherings, including the spacing of chairs and how Investors shake hands with directors.

  • Liam Walsh

Santos wins backing against activist climate groups

Influential proxy adviser CGI Glass Lewis has sided with the Santos board and against activist shareholder groups urging more aggressive action on climate.

  • Angela Macdonald-Smith

Cimic’s $1.5b takeover bid is ‘lousy’, investor says

Investors have complained that a $1.5 billion hostile takeover bid does not represent fair value for the construction group’s shares, with one labelling it “a lousy offer”.

  • Jenny Wiggins