CISCO SYSTEMS, INC.

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Delayed Nasdaq  -  04:00 2022-08-11 pm EDT
45.90 USD   -0.26%
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Microsoft faces investor call to publish global tax affairs

06/28/2022 | 05:21am EDT
FILE PHOTO: Microsoft logo on an office building in New York, U.S.

LONDON (Reuters) - Investors managing more than $350 billion of assets have demanded that Microsoft publish more transparent tax and financial information, as tech giants face growing scrutiny globally over their tax affairs.

A shareholder resolution on tax transparency had been filed to Microsoft ahead of its annual investor meeting this year, said the organiser of the action, Britain-based proxy advisers Pensions & Investment Research Consultants (PIRC).

Investors including Nordea, AkademikerPension and Greater Manchester Pension Fund had backed the resolution, PIRC said.

The resolution calls on the company to publish financial and tax information on a country-by-country basis outside its home market of the United States so investors can assess whether it is paying fair taxes and identify any risks posed by tax reforms.

It also calls on Microsoft to produce a tax transparency report in line with the tax standard of the Global Reporting Initiative, a standards organisation.

A similar resolution has also been filed to tech giant Cisco, PIRC said.

Investors voted on a tax transparency resolution at Amazon's investor meeting in May, but it and other investor-led resolutions failed to get sufficient support to pass.

Microsoft and Cisco were not immediately available for comment.

(Reporting by Iain Withers; Editing by Bradley Perrett)


© Reuters 2022
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ChangeLast1st jan.
CISCO SYSTEMS, INC. -0.26% 45.9 Delayed Quote.-27.57%
MICROSOFT CORPORATION -0.74% 287.02 Delayed Quote.-14.66%
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Financials (USD)
Sales 2022 51 261 M - -
Net income 2022 11 790 M - -
Net cash 2022 12 641 M - -
P/E ratio 2022 16,3x
Yield 2022 3,26%
Capitalization 190 B 190 B -
EV / Sales 2022 3,46x
EV / Sales 2023 3,26x
Nbr of Employees 79 500
Free-Float 99,9%
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Number of Analysts 29
Last Close Price 45,90 $
Average target price 53,79 $
Spread / Average Target 17,2%
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Managers and Directors
Charles H. Robbins Chairman & Chief Executive Officer
Richard Scott Herren Chief Financial Officer & Executive VP
Jacqueline Guichelaar Group Chief Information Officer & Senior VP
Roland Acra Chief Technology Officer & Senior Vice President
Maria Martinez Chief Operating Officer & Executive Vice President
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