CHARLOTTE, N.C., Oct. 29, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) has been ranked No. 1 among U.S. utilities for investor transparency by an independent financial communications firm.
Labrador Advisory Services reviewed the proxy statements, 10-K filings and website investor pages of the nation's 250 largest companies, based on market capitalization.
The firm ranked Duke Energy's investor disclosures No. 1 for transparency among the nation's utilities – and No. 16 among all companies – based on quality and completeness of information.
"Duke Energy takes transparency and disclosure seriously," said Kodwo Ghartey-Tagoe, Duke Energy executive vice president and chief legal officer. "The company's credibility and reputation depend on providing clear, complete, easily accessible information to customers, investors and the general public."
Duke Energy "placed within the Top 20 (across all industries) for several reasons," Labrador said.
- Duke Energy's proxy statement "includes key graphics that help investors quickly digest information, such as graphics for the board's age, independence and gender. In addition, Duke includes a skills matrix and provides an interactive version of the proxy."
- Duke Energy's 10-K filing "aids the reader by providing a secondary table of contents preceding the financial statements, and uses a two-column page layout."
- Duke Energy's investor web pages "provide easy access to the annual meeting webcast and transcript, and also the company's bylaws."
Labrador's evaluation – culminating in its inaugural "U.S. Transparency Awards" – included 93 different criteria based on what it called "four pillars of transparency":
- "Accessibility – Quickly finding comprehensive information.
- "Accuracy – Obtaining all the regulatory content and additional information that allows for better understanding.
- "Comparability – Presenting information that enables quick comparison among issuers, thanks to strict compliance with regulatory and market standards.
- "Availability – Having access to all information as soon as possible, in appropriate languages, and in all formats (paper, web, etc.) so that no reader is at an advantage or disadvantage."
"More than 23,000 data points were collected and reviewed as we determined this year's rankings," said Molly Doran, Labrador's director of advisory and design services.
"Each data point was ranked based on its importance in the investor community. Our hope is that the Transparency Awards and the criteria used in the rankings will encourage companies to adapt and innovate how they communicate through their regulated disclosures," Doran said.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Dave Scanzoni
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SOURCE Duke Energy