The figure represents an increase of more than 4% in relation to the same period of the previous year, so Claudio Garín, DCVR Operations and Services Manager expressed his satisfaction with the growth trend in the number of clients that have decided to subscribe the shareholders’ meeting administration service, for both ordinary and extraordinary summons.

In this sense, the executive highlighted the issuers’ preference which amounted to 90% of the total of meetings held, which shows the high market penetration of their client portfolios.

“We have a high technology computer system that supports the shareholders’ meeting service in order to provide the service in the best conditions and efficiency, and which permits guaranteeing the platform stability at very critical moments, for example when a large quantity of shareholders is in contact with the administration or senior management of the issuing companies are gathered during the meeting’, he said.

Garín assured that ‘we have the know-how to develop this work and have been improving different areas to fulfil the requirements demanded by the regulation to achieve the stability and quality conditions required in an event of this nature’.

The internal challenge of DCVR is complex because in April, and specifically during the last week is the date when most corporation meetings are held. This is why, says Garín: ‘along with the technological tool, there is also human support, a team of executives and collaborators prepared to handle the interaction and use the tool regardless of the digital service supplier. There is a role we perform as DCVR, which is important for the companies’, he specified. He added that the concentration of these meetings is not small considering that shareholders’ meetings have to be held by law no later than the end of the first term each year.

This year, for example, we had in fact, an internal capacity challenge and for the events of April 28, 29 and 30 we had a great number of executives outside the office. We also had to face contingency and unexpected situations as one of the executives who was out of our region had trouble returning to Santiago due to the volcano eruption in the south and could not attend a meeting he had scheduled for the following day. This was solved brilliantly with internal logistics and the will of collaborators to fulfil this service in the time and manner required’, he said.

Therefore, it is important for DCVR to ‘have plans in place to face these dynamics which is not simple in terms of flows as it requires analyses and processes that are performed on the same day. All this challenges the company to organize in the best possible way, adapting programs, work teams, controls and adopting the necessary measures so that the provision of the service is performed without errors and within the stipulated periods’. 

This is why, he said that among the challenges presented to continue the growth trend in events administrated is the on going search for continuous improvement in the administration of the service, which can also be requested by issuers who are not currently with DCVR.

The shareholders’ meeting administration service performed by DCVR is available throughout the year and involves the handling of processes such as recording of attendance, tabulation, quorum calculations and, if applicable, performing the voting process through the generation of ballots or by acclamation.

The three great milestones in terms of services provided by DCVR in the year are: tax processes and sworn statements; shareholders’ meetings and dividend processing.

THE MEETINGS IN FIGURES

In statistical terms, April is the month concentrating approximately 70% of the shareholders’ meetings that DCVR performs throughout the year. “April is the shareholders’ meetings peak period due to the Corporations Act. 50% of April’s shareholders’ meetings were held in the last week of the month, the 29th being the day concentrating the higher number of summons.  During this year, a peak of 26 simultaneous meetings was held which accounts for the efficiency and coordination the handling of the service requires’, he said. 

The distribution of corporation dividends and ETF paid by DCVR and by issuers directly (performed by these very companies) amounted to $2,150,713,505,638 in the first semester this year.

As of the first semester 2015, 297 dividend payment processes were performed (10% more than same date in 2014), the fifth month of the year being the peak period as 151 processes were performed during that month, representing 55%. Garín also highlighted the continuous growth that the number of dividend processes has had. For example, in 2012, there were 121 processes, representing a 129% increase in relation to those  performed in the current year. 

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