New York Comptroller Resolves Shareholder Resolutions on Political Spending Disclosures

New York State Comptroller Thomas DiNapoli has reached agreements with several Fortune 500 companies, including Dr. Pepper Snapple group, to disclose their corporate political spending. The agreements apparently resolve shareholder resolutions that DiNapoli filed on behalf of the state’s pension fund, which holds more than 600,000 shares of Dr. Pepper Snapple Group, valued at some $26.1 million. DiNapoli stated, “Shareholders have a right to know how companies are using corporate money for political purposes. To date, eighteen companies have reached agreements with the New York State Common Retirement Fund to disclose their political spending—it’s time for more good corporate citizens to follow their lead.” Among the other companies that have reached similar agreements in past years are Yum! Brands Inc. and PepsiCo. Inc. See NYS Comptroller Thomas DiNapoli News Release, April 9, 2013.