Virtual meetings should spur your income

Article Excerpt

Due to the COVID-19 outbreak, many companies are now shifting their annual shareholder meetings away from physical locations to the Internet. Even after the current crisis ends, it’s likely many firms will continue these “virtual” meetings. That’s good news for Broadridge investors, as it helps businesses better communicate with shareholders and count up proxy votes. The company is also expanding the services it sells as a recurring subscription. Those regular revenue streams make it easier for Broadridge to sustain and, when ready, increase your dividend. BROADRIDGE FINANCIAL SOLUTIONS INC. $94 is a buy. The company (New York symbol BR; High-Growth Payer Portfolio, Finance sector; Shares outstanding: 114.8 million; Market cap: $10.8 billion; Dividend yield: 2.3%; Dividend Sustainability Rating: Above Average; www.broadridge.com) serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. The company has raised its dividend each year since Automatic Data Processing spun it off to its shareholders in 2007. With the October 2019 payment, Broadridge raised the quarterly dividend for…

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