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Kinder Morgan shareholders’ eco-resolutions pass in rare investor upset

The Toronto Star: In an upset for a major publicly-traded corporation, two environmental resolutions at Kinder Morgan Inc.’s annual general meetings passed with more than 50 per cent of shareholder votes Wednesday, against the Texas firm’s advice.

Shareholder resolutions rarely gain more than a fraction of support, and Peter Chapman of the Vancouver-based Shareholder Association for Research and Education said even a 10, 20 or 30 per cent result can serve as a “wake-up call” to management about dissatisfied stockholders who ultimately call the shots.

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