Welcome to the 2026 Annual Meeting of Broadridge Financial Solutions. I would now like to introduce the first presenter, Eileen Murray, Chairperson of Broadridge. Ms. Murray?
Thank you. I'd like to welcome you all to Broadridge's 2026 Annual Meeting. We're delighted you can join us this morning and participate in this meeting. I'd like to introduce our additional Director nominees, who along with me, make up the slate of 10 Director nominees. All nominees are in attendance at this meeting. Joining me on the video are our CEO and board member, Tim Gokey, the Chair of the Audit and Risk Committee, Melvin Flowers, the Chair of our Compensation Committee, Maura Markus, the Chair of our Governance and Nominating Committee, Bob Duelks, and the other Director nominees are joining us in this meeting via video. There are Todd Diganci, Trish Mosconi, Annette Nazareth, Chris Perry, and Srinivas Tallapragada. I'd also like to introduce the representatives from our independent audit firm, Deloitte & Touche. They're joining us via audio, Tyler Limbert and Lenny DeSalvo.
Our Chief Financial Officer, Ashima Ghei, is in the meeting, and our Chief Legal Officer, Hope Jarkowski, as well as our Independent Inspector of Election, Louis Larson, are also joining the meeting on the phone line. I'll now turn it over to our Corporate Secretary, Maria Allen, to conduct the business aspects of the meeting.
Thank you, Eileen. This meeting is held pursuant to a notice dated September 29, 2026. On or about September 29, each stockholder of record as of the close of business on September 18 was sent either a notification of internet availability of proxy materials or the proxy materials themselves. All documents concerning notice of the meeting will be filed with the records of the meeting, and Louis Larson has been appointed Inspector of Elections to count all votes and determine the results of the voting. I received Louis Larson's written oath of office as Inspector, and he's presented me with evidence that notice of this meeting was properly given to all stockholders of record as of the record date. Louis, have you determined whether a quorum is present at this meeting?
I have determined there are stockholders representing approximately 87% of the outstanding shares of common stock at this meeting, in person or by proxy, which is sufficient for a quorum and for transacting the business of this meeting.
Thank you. I find that a quorum is present for the purpose of conducting business at this meeting, and I've been informed that there are 32 attendees at this meeting. All holders of the company's common stock as of the record date are entitled to vote online at this meeting on all proposals included in the company's proxy materials. I now declare the polls for this meeting open. The polls will be closed after Mr. Gokey's business presentation. If there's any stockholder present who wishes to vote or wishes to change their vote, please do so now. Broadridge stockholders also have the ability to submit questions either online by clicking the question icon located on the right side of your screen, or by phone by dialing 1-877-328-2502 and providing the control number that was included with the notice of this meeting.
Our Chair, Eileen Murray, will now present the proposals. Eileen?
Thank you, Maria. Let me turn to the proposals. The items to be considered at this meeting are set forth in detail in the notice of the 2026 Annual Meeting of Stockholders and Proxy Statement of the company. Each are dated September 29, 2026, and mailed or made available to stockholders of the company. The first item of business on our agenda is the election of directors to serve until the next annual meeting of stockholders or until their respective successors have been elected and qualified. The Board has recommended the 10 nominees listed in our proxy materials for election to our Board of Directors. The Corporate Secretary has advised me there were no valid nominations by stockholders submitted to the company prior to this meeting in accordance with the bylaws. Therefore, I declare the nominations closed.
Two, the second item of business is a non-binding advisory vote on the compensation of our named executive officers. I want to remind you that this vote is advisory, so it will not be binding on us. That being said, we recognize that our stockholders have a fundamental interest in Broadridge's executive compensation practices, so our Compensation Committee will take into account the result of this vote when considering future executive compensation decisions. The third item on our agenda is the ratification of the selection of Deloitte & Touche as the company's independent registered public accounting firm for the 2027 fiscal year. The Board recommends that stockholders vote for proposals one, two, and three. As a reminder, Broadridge stockholders have the ability to submit questions on the proposals. Are there any questions at this time pertaining to these items?
Let me pause briefly for any online questions as well.
While we give the team a moment to check whether there are any questions, I want to remind stockholders that the polls will be closed after Mr. Gokey's business presentation. After the votes have been cast and the polls closed, the Inspector of Elections will announce the preliminary results. Seeing no questions on the proposals, I'll proceed and turn the meeting over to our Chief Executive Officer, Mr. Gokey, for his business presentation. Tim?
Thank you, Maria. This is Broadridge's 18th virtual-only annual meeting, which is again powered by Broadridge's VSM technology. Our VSM solution supported over 2,500 annual shareholder meetings this past year, which has allowed tens of thousands of investors to participate in annual meetings. This is just one example of how we're making it easier than ever for public companies, funds, and ETFs to engage with their shareholders. Today, I'll begin by discussing our fiscal year 2026 results, followed by our first quarter fiscal year 2027 results, after which the polls will be closed, and we'll take questions from our stockholders related to our business. Now, some financial highlights in fiscal 2026. I'm very pleased with Broadridge's strong fiscal year 2026 results. Recurring revenue constant currency grew 8% to $4.9 billion. Total revenues grew 9% to $7.5 billion.
This strong top-line performance contributed to 12% growth in adjusted EPS to $9.60. We generated $305 million in closed sales, and we ended the year with free cash flow conversion of 110%. In addition, our board approved a 12% increase in our annual dividend to $4.36 per share. This is the 20th consecutive year of a dividend increase, every year since we became a public company. Beyond the numbers, fiscal 2026 demonstrated the strength and stability of our business, the power of the long-term trends driving our growth, and our ability to execute our strategy. I can clearly say Broadridge has never been stronger. Financial services markets are clearly evolving, driven by digitization, tokenization, and agentic AI.
Our deep relationships with leading financial institutions, our industry expertise, and technology platform position us really well to capture the opportunities that these trends will create. Now, I'd like to give you a brief summary of our first quarter fiscal year 2027 results, which we reported last week. We reported a very good first quarter with 11% recurring revenue growth, constant currency, and a 10% increase in closed sales year-over-year to $36 million. Our results were driven by strong execution of our strategy to democratize and digitize governance, to simplify and innovate digital capital markets, and to modernize wealth management. In summary, Broadridge is off to a strong start to 2027. We're executing on our growth strategy, and we're positioned to deliver another year of steady and consistent top and bottom line growth.
Looking ahead, we're translating our growth investments into tangible results by expanding digital engagement, advancing tokenization, and scaling agentic AI. We're widening access to digital engagement, building the governance layer for tokenized equities and the infrastructure connecting traditional and digital assets, and delivering new agentic products and workflows. We're also using AI to improve internal efficiency, fund investment, and support earnings growth. I remain firmly confident in Broadridge's ability to deliver strong financial results, to serve our clients, engage our associates, and create long-term value for shareholders. I'd like to thank our board of directors for their insights, guidance, valuable contributions, which have been essential to our success. I'd especially like to thank Brett Keller, who stepped down from the board earlier this year after 11 years, and Amit Zavery, who served on the board for seven years and is stepping down after this meeting.
They've both been invaluable sources of insight and counsel. I'd also like to unofficially welcome Srinivas Tallapragada, who's standing in this election. As president of Salesforce, Srinivas led the technology for Salesforce and several important Salesforce businesses. He's been an instrumental part of Salesforce's growth for the past 14 years, and we know he'll make a big impact here at Broadridge. Let me also thank our 16,000 associates located across the globe. Their hard work, focus on serving our clients, and success in bringing innovation to our industry is what powers our growth. Thank you. Finally, I want to express my gratitude to you, our stockholders, for the confidence you have shown in me as your CEO and for your investment in our company. I now turn the meeting over to Maria for the results of the vote.
Thank you, Tim. All ballots have been submitted, and I now announce that the polls for this meeting are closed. Inspector, will you please report the results of the vote?
All valid votes received will be included in the final vote report. On the motion for the election of directors, more than 94% of the votes cast at this meeting were cast in favor of the election of each of the director nominees. On the motion for approval of Broadridge's executive compensation, more than 91% of the votes cast at this meeting have approved Broadridge's executive compensation as disclosed in the Proxy Statement. On the motion for the ratification of the appointment of Deloitte & Touche, the company's independent registered public accounting firm for the 2027 fiscal year, more than 98% of the votes cast at this meeting were cast in favor of ratification.
Thank you, Louis. I declare that the proposed slate of directors has been duly elected, our executive compensation has been approved by a non-binding advisory vote, and the appointment of Deloitte & Touche as our independent registered public accounting firm has been duly ratified. I direct that the results of the voting be incorporated into the minutes of this meeting. The business of this meeting is now complete, and I declare the meeting formally adjourned. The complete voting results will be contained in the Form 8-K that the company will file with the SEC within four business days following this meeting. We'll now begin the Q&A portion of the meeting. As a reminder, you can ask a question online by submitting it in the Ask a Question field or by calling 1-877-328-2502. I'll repeat that number, 1-877-328-2502.
If time doesn't allow or follow-up is required, we'll provide a response to such questions on our Investor Relations website, broadridge-ir.com. I'll now turn the meeting back over to Tim Gokey for the Q&A. Tim, there were no questions submitted by shareholders in advance of the meeting. Since there were no questions submitted prior to the meeting, we'll begin with questions submitted online live during the meeting. I'm checking now with the VSM team to see whether there are any questions. Still checking. Still checking. Well, there are no questions that we're seeing come through. Tim, there are no online questions, so we'll now take questions from the phone line. Operator?
Thank you. We will now begin the phone question- and- answer session. To ask a question, you may press star then one on your telephone keypad. If you are using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star then two. At this time, we will pause momentarily to assemble our roster. The first question comes from Wesley Whitehead. Please go ahead.
Good morning, Mr. Gokey. That was false to say that there was no questions asked at the virtual shareholder meeting. I asked three questions, so it is just as well that I called. My first question was, in real life annual meetings, people can hear other questions. Why are people not able to see other questions asked by other participants in virtual shareholder meetings hosted by Broadridge?
Wesley, hi. Thank you very much for calling in. Great that you were. It is interesting, we did have some, there was some chat behind the scenes because I believe, as I understand it, there were some process questions about how to make things work on the application. We did not want to take everyone through that. In terms of the application and seeing all the questions, first of all, obviously by calling in, everyone is getting a chance to hear your question here. We have just found that in the questions, there are often ones like the ones you had about application-related things. At least for our meeting, we have chosen to try to make sure that we focus the conversation on things related to the proposals. We appreciate your feedback, and we are always working to make the application and the experience better for everyone.
Well, it is useful for other shareholders to get insight to concerns held by other shareholders, and that is often shared by questions asked by co-owners.
Yep, very interesting point. Thank you.
I would also like that call to be reviewed because Nick hung up on me.
Okay, so you got disconnected?
No, Nick hung up on me.
Okay.
No, it's not okay.
You were able to then call back in?
I don't particularly care for people hanging up on me when they're hassling me for questions they refuse to answer. Ms. Alison McGoke was great, but Nick, he left something to be desired.
Okay. Thank you. We will follow up on that.
Thank you. There are no further audio questions at this time. This concludes our question- and- answer session. I would now like to turn the meeting back over to Maria Allen.
Thank you. I'll now check with the virtual shareholder meeting team one more time in case any other questions came in online while we went to the phones. They're checking. There are no proposal-related questions. I'll now turn the meeting back over to Eileen Murray. Eileen?
Thank you, Maria. Thank you for attending this morning, and thank you for your interest in Broadridge. Hope you all have a great day and enjoy the holiday season.