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In a recent SEC filing, Greif, Inc. (NYSE: GEF), a global leader in industrial packaging products and services with a market capitalization of $2.67 billion, announced the results of its Annual Meeting of Stockholders held on Monday. The company’s stock has recently experienced a significant 7.8% decline over the past week, currently trading near its 52-week low. The company, known for its production of metal shipping barrels, drums, kegs, and pails, confirmed the election of all ten director nominees proposed by its Board of Directors. The directors, including Ole G. Rosgaard, Bruce A. Edwards, and others, were elected for one-year terms with a majority of votes in favor.
Additionally, shareholders ratified the appointment of Deloitte & Touche LLP as the independent auditor for the fiscal year 2025. The advisory vote showed strong support, with over 19 million votes cast in favor and only a small fraction against or abstaining.
The third proposal, which sought approval for amendments to the company’s 2001 Management Equity Incentive and Compensation Plan, also passed. This plan received over 15 million votes for the approval, against approximately 1.65 million votes, with some abstentions and broker non-votes.
The filing by Greif, Inc., headquartered in Delaware, Ohio, reflects the company’s adherence to corporate governance and management practices. The results of the Annual Meeting are a testament to the confidence the shareholders have in the company’s leadership and strategic direction. According to InvestingPro data, the company has maintained dividend payments for an impressive 53 consecutive years, with dividend growth over the past four years, demonstrating long-term financial stability. This SEC filing provides a transparent account of the matters submitted to a vote of security holders, underscoring the importance of shareholder engagement in corporate governance.
Greif, Inc. trades on the New York Stock Exchange under the symbols (NYSE:GEF) for its Class A Common Stock and NYSE:GEF-B for its Class B Common Stock. The company’s commitment to transparency and shareholder participation is evident in the detailed disclosure of the voting results, which are based on a press release statement. This information is essential for investors and market participants who monitor the company’s governance and strategic decisions. InvestingPro analysis suggests the stock is currently undervalued, with a P/E ratio of 10.7x and strong profitability indicators. Investors seeking deeper insights can access comprehensive financial analysis and additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks including Greif, Inc.
In other recent news, Greif Bros Corporation reported its Q1 2025 earnings with an adjusted earnings per share (EPS) of $0.39, falling significantly short of the forecasted $0.75. The company’s revenue was slightly below expectations at $1.26 billion, compared to the anticipated $1.27 billion. Despite missing these forecasts, Greif raised the low end of its EBITDA guidance to $710 million and announced a $100 million cost optimization program. Additionally, the company is exploring the sale of its timber portfolio to reduce debt. Analyst firms have not reported any recent upgrades or downgrades for Greif. The company also noted a year-over-year increase in adjusted EBITDA to $145 million, up by $7 million. Greif is focusing on growth in GDP+ markets such as agrochemicals and food and beverage, while navigating challenges in the soft industrial economy affecting metals and containerboard volumes.
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