New format makes meeting accessible to 1 million shareholders worldwide
Company also to change Annual Report and Sustainability Report formats
CHARLOTTE, N.C. -- To further improve shareholder communications, Duke Energy will change its annual shareholder meeting to an online-only event using a live video webcast, beginning with its May 4, 2017 meeting, the company announced today.
Duke Energy joins a growing list of more than 100 companies – including Sprint, HP, Nutrisystem and Dynegy – that have moved their shareholder meetings to online-only formats in recent years.
The new format will give Duke Energy's more than 1 million shareholders worldwide access to the meeting, enabling them to participate from any location.
Shareholders will be able to watch management's company update in real time, vote on shareholder proposals and, through a website, submit questions before and during the meeting to Chairman, President and CEO Lynn Good.
"The live webcast will greatly increase our shareholders' access to the meeting, making it easy and inexpensive for them to participate," said Steve Young, Duke Energy executive vice president and chief financial officer.
Shareholder relations experts agree.
"Online shareholder meetings represent a way to use modern technology to enable more shareholders to attend, ask questions and vote their shares from anywhere in the world," said Carl Hagberg, chairman of Carl T. Hagberg and Associates and a nationally known expert on shareholder communications.
"Duke Energy's use of audio and visual components demonstrates its commitment to ensuring that the proceedings are conducted in a careful and transparent way, open to review by all interested parties," Hagberg added.
The online format also will enable Good to answer more shareholder questions, either during the meeting or afterward through a web posting.
Shareholders without computer or internet access to view the webcast will be able to listen to the meeting by calling a toll-free number.
Information about how shareholders can access the webcast is available in Duke Energy's proxy statement.
In a related move, Duke Energy also announced it will move to a new, interactive digital format for its annual report.
After the 2016 Annual Report, to be published in March, the report will no longer be printed in its current form. The company will continue to send printed copies of a slimmer version to shareholders who request them, but will encourage shareholders to view the report online as part of its ongoing environmental stewardship efforts.
The 2016 Sustainability Report, available in April, will be online only.
"Our new online shareholder meeting and changes to our company reports represent significant steps forward for Duke Energy in the digital era, benefiting shareholders and the environment," Young said.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
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Contact: Catherine Butler