DOCSLIB.ORG

Franklin Rising Dividends Fund Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Franklin Rising Dividends Fund Annual Report ANNUAL REPORT AND SHAREHOLDER LETTER FRANKLIN RISING DIVIDENDS FUND A Series of Franklin Managed Trust September 30, 2020 Sign up for electronic delivery at franklintempleton.com/edelivery Internet Delivery of Fund Reports Unless You Request Paper Copies: Effective January 1, 2021, as permitted by the SEC, paper copies of the Fund’s shareholder reports will no longer be sent by mail, unless you specifically request them from the Fund or your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report. If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. If you have not signed up for electronic delivery, we would encourage you to join fellow shareholders who have. You may elect to receive shareholder reports and other communications electronically from the Fund by calling (800) 632-2301 or by contacting your financial intermediary. You may elect to continue to receive paper copies of all your future shareholder reports free of charge by contacting your financial intermediary or, if you invest directly with a Fund, calling (800) 632-2301 to let the Fund know of your request. Your election to receive reports in paper will apply to all funds held in your account. SHAREHOLDER LETTER Dear Shareholder: During the 12 months ended September 30, 2020, the The enclosed annual report for Franklin Rising Dividends U.S. economy grew moderately through the end of 2019 Fund includes more detail about prevailing conditions during amid concerns about trade, but it contracted in 2020’s first the period and a discussion about investment decisions. and second quarters in response to the novel coronavirus We encourage you to discuss your investment goals with (COVID-19) pandemic. The U.S. Federal Reserve, having your financial advisor, who can review your overall portfolio, lowered the federal funds rate twice earlier in 2019 amid reassess your goals and help you stay focused on the long global trade tensions, lowered the rate by 0.25% at its term. Please remember all securities markets fluctuate, as October 2019 meeting and then held it unchanged through do mutual fund prices. February 2020. However, given larger economic risks posed by COVID-19, the Federal Reserve lowered its key rate We are grateful for the trust you have placed in Franklin by 0.50% on March 3 and further by 1.00% on March 15, Rising Dividends Fund and look forward to continuing to decreasing the rate during the period from 2.00% to 0.25%. serve your investment needs. The Federal Reserve also announced broad quantitative Sincerely, easing measures to support credit markets and adjusted its policy in August 2020 to allow more flexibility to keep interest Nicholas Getaz, CFA® rates low, while maintaining a 2% average inflation target. Vice President, Research Analyst Co-Lead Portfolio Manager The 10-year U.S. Treasury yield was 1.68% on September Franklin Managed Trust 30, 2019, and it decreased to 0.69% by the end of September 2020. In this environment, U.S. stocks, as Matthew D. Quinlan measured by the Standard & Poor’s® 500 Index, posted a Vice President, Research Analyst +15.15% return.1 Co-Lead Portfolio Manager Franklin Managed Trust We are committed to our long-term perspective and disciplined investment approach as we conduct a rigorous, This letter reflects our analysis and opinions as of fundamental analysis of securities with a regular emphasis September 30, 2020 unless otherwise indicated. The on investment risk management. We continue to focus on information is not a complete analysis of every aspect of any what we consider high-quality, resilient business models with market, country, industry, security or fund. Statements of fact attractive cash flow generation capabilities. are from sources considered reliable. CFA® is a trademark owned by CFA Institute. 1. Source: Morningstar. The index is unmanaged and includes reinvestment of any income or distributions. See www.franklintempletondatasources.com for additional data provider information. Not FDIC Insured May Lose Value No Bank Guarantee franklintempleton.com Not part of the annual report 1 Contents Annual Report Franklin Rising Dividends Fund ..................... 3 Performance Summary ........................... 6 Your Fund’s Expenses ............................ 9 Financial Highlights and Statement of Investments .... 10 Financial Statements ............................. 18 Notes to Financial Statements ..................... 22 Report of Independent Registered Public Accounting Firm ............................ 30 Tax Information .................................. 31 Board Members and Officers ....................... 32 Shareholder Information .......................... 37 Visit franklintempleton.com for fund updates, to access your account, or to find helpful financial planning tools. 2 Annual Report franklintempleton.com ANNUAL REPORT Franklin Rising Dividends Fund This annual report for Franklin Rising Dividends Fund covers pandemic. Such fears drove many investors to sell equity the fiscal year ended September 30, 2020. holdings in favor of investments perceived as safe, such as government bonds and cash. Nevertheless, a steady equity market recovery amid monetary and fiscal support led Your Fund’s Goal and Main Investments stocks, as measured by the S&P 500, to reach all-time price The Fund seeks long-term capital appreciation. highs in early September 2020. Nonetheless, several risks Preservation of capital, while not a goal, is also an important tempered investors’ enthusiasm in the period’s final month, consideration. Under normal market conditions, the Fund including persistent COVID-19 infection rates, fading hopes invests at least 80% of its net assets in companies that for additional stimulus, and uncertainties surrounding the have paid consistently rising dividends. The Fund invests upcoming presidential election. predominantly in equity securities, primarily common stock. Companies that have paid consistently rising dividends Government-issued restrictions for mitigating the pandemic include those companies that currently pay dividends on severely curtailed economic activity beginning in March their common stocks and have maintained or increased 2020. As a result, the unemployment rate surged to 14.7% their dividend rate during the last four consecutive years. in April as many businesses announced mass layoffs.2 The Fund may invest up to 25% of its total assets in foreign The longest U.S. economic expansion in history ended in securities. February, according to the National Bureau of Economic Research, and the country slipped into a deep recession with second-quarter 2020 gross domestic product (GDP) Performance Overview declining at a record pace. Economic growth resumed in For the 12 months under review, the Fund’s Class A shares the third quarter at the fastest annualized rate on record as posted a +9.97% cumulative total return. In comparison, the many businesses reopened, but the GDP remained below its Fund’s benchmark, the Standard & Poor’s® 500 Index (S&P pre-pandemic level. 500®), which is a broad measure of U.S. stock performance, posted a +15.15% total return.1 You can find more of the The Fed supported the U.S. economy both before and during Fund’s performance data in the Performance Summary the pandemic, lowering the federal funds target rate twice beginning on page 6. in late 2019 to a range of 1.50%–1.75% and implementing two emergency rate cuts in March 2020, decreasing the rate Performance data represent past performance, which does to a range of 0.00%–0.25%. Additionally, the Fed enacted not guarantee future results. Investment return and principal sweeping quantitative easing measures aimed at ensuring value will fluctuate, and you may have a gain or loss when credit flows to borrowers and supporting credit markets with you sell your shares. Current performance may differ from unlimited amounts of bond purchasing. The U.S. federal figures shown. For most recent month-end performance, go government also passed several rounds of fiscal stimulus, to franklintempleton.com or call (800) 342-5236. providing aid to businesses, state and local governments and individuals. Economic and Market Overview Benefiting from U.S. monetary and fiscal stimulus U.S. equities, as measured by the S&P 500, posted solid measures, equities began to rebound at the end of March gains during the 12-month period. Equities advanced at the 2020. As states gradually reopened, economic activity end of 2019, aided by steady economic growth, easing trade resumed, leading to declining jobless claims, a decreasing tensions and the U.S. Federal Reserve’s (Fed’s) supportive unemployment rate and record-high increases in job monetary policy. However, a sharp selloff began in late additions and existing home sales. Investor optimism about February 2020 amid investor fears of a global economic potential COVID-19 vaccines, rising retail sales and slowdown due to the novel coronavirus (COVID-19) 1. Source: Morningstar. The index is unmanaged and includes reinvestment of any income or distributions. It does not reflect any fees, expenses or sales charges. One cannot invest directly in an index, and an index is not representative of the Fund’s portfolio. 2. Source: Bureau of Labor Statistics. See www.franklintempletondatasources.com for additional data provider information. The dollar value,
Load more

Recommended publications
  • Financial Reporting: Who Does What? FUTURE of AUDIT FINANCIAL REPORTING: WHO DOES WHAT?
    ICAEW THOUGHT LEADERSHIP FUTURE OF AUDIT Financial reporting: who does what? FUTURE OF AUDIT FINANCIAL REPORTING: WHO DOES WHAT? This publication explains in simple terms who does what in the financial reporting system for UK companies with full main market listings. It is intended to serve as background reading for our 2019/20 ‘The future of audit’ thought leadership essays. They, inter alia, are designed to inform the various inquiries relevant to audit and regulation in progress at the time of writing, including by Sir Donald Brydon, Sir John Kingman, the CMA and BEIS. We hope this background paper will help directors, politicians, investors and policymakers understand the complex relationships between boards, auditors, shareholders and others, and the regulatory regime within which those relationships operate. © ICAEW 2019 All rights reserved. If you want to reproduce or redistribute any of the material in this publication, you should first get ICAEW’s permission in writing. ICAEW will not be liable for any reliance you place on the information in this publication. You should seek independent advice. 2 FUTURE OF AUDIT FINANCIAL REPORTING: WHO DOES WHAT? Financial statements: at the heart of the financial reporting system Financial reporting needs to improve, and everyone involved – preparers, auditors, audit committees, shareholders – needs to do more. This is no mere exhortation: all of these players are required by law, regulation and various codes to play an active part in ensuring that the financial statements, which sit at the heart of the system, pass the test required of them by law, which is that they give a ‘true and fair’ view.
    [Show full text]
  • The Disclosure in the Annual Reports by the Listed Companies on the Ho Chi Minh Stock Exchange
    International Journal of Business and Social Science Vol. 6, No. 12; December 2015 The Disclosure in the Annual Reports by the Listed Companies on the Ho Chi Minh Stock Exchange Vo Thi Thuy Trang Nha Trang Uinversity, Nha Trang Viet Nam Nguyen Cong Phuong College of Economics, Da Nang University Da Nang Viet Nam Abstract Purpose: This study aims to examine levels of the disclosure in the annual reports of the listed companies on the HOSE. Design/methodology/approach: This paper applies disclosure indexes to measure the amount information that is disclosure in the annual report of companies listed on HOSE in 2013. The disclosure index is designed basing on 94 disclosure items. Findings: The results show that the levels of the voluntary disclosure in the annual report by the listed companies is low, only at 23,9%. Research limitation: Information disclosure is an abstract concept and cannot be measured directly due to researchers’ subjective opinions. Originality/value: This research contributes to the literature by showing that although the existence of regulations and a monitoring system by regulatory authorities, voluntary disclosure by listed companies in a developing country such as Vietnam is low which influences company’s transparency. The results of this research provide useful information for the State agencies to review, modify and develop disclosure regulations in the future. The paper also can be used as an useful materials for teaching. Keywords: Voluntary Disclosure, Corporate Governance, Annual Report, listed companies 1. Introduction This paper aims to measure the level of information disclosure of the companies listed on the stock market of Vietnam.
    [Show full text]
  • AICPA 2018-19 Peer Review Board Annual Report on Oversight
    ANNUAL REPORT ON OVERSIGHT Issued May 8, 2020 Copyright © 2020 by American Institute of Certified Public Accountants, Inc. New York, NY 10036-8775 All rights reserved. For information about the procedure for requesting permission to make copies of any part of this work, please email [email protected] with your request. Otherwise, requests should be written and mailed to the Permissions Department, 220 Leigh Farm Road, Durham, NC 27707-8110. Table of Contents Introduction ................................................................................................................................i Letter to the Peer Review Board .............................................................................................1 Peer Review Program ..............................................................................................................3 Exhibit 1 Administering Entities Approved to Administer the Program in 2018 and 2019 ....... 15 Exhibit 2 Results by Type of Peer Review and Report Issued ............................................... 16 Exhibit 3 Type and Number of Reasons for Report Modifications ......................................... 17 Exhibit 4 Number of Engagements Not Performed in Accordance with Professional Standards in All Material Respects ....................................................................................................... 18 Exhibit 5 Summary of Required Follow-Up Actions ............................................................... 19 Exhibit 6 On-Site Oversights
    [Show full text]
  • Capital Markets 2021 SEC Filing Deadlines and Financial Statement Staleness Dates
    Capital Markets 2021 SEC Filing Deadlines and Financial Statement Staleness Dates January February 10-K for Year-ended December 31, 2020 Su M T W Th F S Su M T W Th F S 1 2 1 2 3 4 5 6 March 1 Large Accelerated Filers 60 days after fiscal year-end 3 4 5 6 7 8 9 7 8 9 10 11 12 13 March 16 Accelerated Filers 75 days after fiscal year-end 10 11 12 13 14 15 16 14 15 16 17 18 19 20 17 18 19 20 21 22 23 21 22 23 24 25 26 27 March 31 Non-Accelerated Filers 90 days after fiscal year-end 24 25 26 27 28 29 30 28 31 Definitive proxy statement (or information April 30 statement) if Part III of Form 10-K incorpo- 120 days after fiscal year-end March April rates information from proxy by reference Su M T W Th F S Su M T W Th F S 1 2 3 4 5 6 1 2 3 Form 20-F for Year-ended December 31, 2020 7 8 9 10 11 12 13 4 5 6 7 8 9 10 April 30 Form 20-F (Foreign Private Issuers) 4 months after fiscal year-end 14 15 16 17 18 19 20 11 12 13 14 15 16 17 21 22 23 24 25 26 27 18 19 20 21 22 23 24 10-Q for Quarter Ended March 31, 2021 28 29 30 31 25 26 27 28 29 30 May 10 Large Accelerated and Accelerated Filers 40 days after fiscal quarter-end May June May 17* Non-Accelerated Filers 45 days after fiscal quarter-end Su M T W Th F S Su M T W Th F S 10-Q for Quarter Ended June 30, 2021 1 1 2 3 4 5 2 3 4 5 6 7 8 6 7 8 9 10 11 12 August 9 Large-Accelerated and Accelerated Filers 40 days after fiscal quarter-end 9 10 11 12 13 14 15 13 14 15 16 17 18 19 16 17 18 19 20 21 22 20 21 22 23 24 25 26 August 16* Non-Accelerated Filers 45 days after fiscal quarter-end 23 24 25 26 27
    [Show full text]
  • Uber-Technologies-Inc-2019-Annual-Report.Pdf
    2019 Annual Report 69 Countries A global tech platform at 10K+ massive scale Cities Serving multiple multi-trillion dollar markets with products leveraging our core technology $65B and infrastructure Gross Bookings We believe deeply in our bold mission. Every minute of every day, consumers and Drivers on our platform can tap a button and get a ride or tap a button and get work. We revolutionized personal mobility with ridesharing, and we are leveraging our platform to redefine the massive meal delivery and logistics 111M industries. The foundation of our platform is our MAPCs massive network, leading technology, operational excellence, and product expertise. Together, these elements power movement from point A to point B. 7B Trips UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38902 UBER TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 45-2647441 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1455 Market Street, 4th Floor San Francisco, California 94103 (Address of principal executive offices, including zip code) (415) 612-8582 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Name of each exchange Title of each class Trading Symbol(s) on which registered Common Stock, par value $0.00001 per share UBER New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
    [Show full text]
  • 2020 Westrock Annual Report
    2020 ANNUAL REPORT BOARD OF DIRECTORS COLLEEN F. ARNOLD RUSSELL M. CURREY TIMOTHY H. POWERS Former Senior Vice President President Former Chairman, President and IBM Boxwood Capital, LLC Chief Executive Officer Compensation Committee, Audit Committee, Finance Committee Hubbell, Inc. Nominating and Corporate Governance Committee Audit Committee, Compensation Committee SUZAN F. HARRISON TIMOTHY J. BERNLOHR Former President STEVEN C. VOORHEES Managing Member Global Oral Care, Colgate-Palmolive Company President and Chief Executive Officer TJB Management Consulting, LLC Audit Committee, Finance Committee WestRock Company Executive Committee, Compensation Committee, Executive Committee Nominating and Corporate Governance Committee JOHN A. LUKE JR. (Non-Executive Chairman) BETTINA M. WHYTE J. POWELL BROWN Former Chairman and Chief Executive Officer President and Owner President and Chief Executive Officer MeadWestVaco Corporation Bettina Whyte Consultants, LLC Brown & Brown, Inc. Executive Committee Compensation Committee, Nominating and Corporate Governance Committee, Nominating and Corporate Governance Committee Finance Committee GRACIA C. MARTORE Former President and Chief Executive Officer ALAN D. WILSON TERRELL K. CREWS TEGNA, Inc. (Lead Independent Director) Former Executive Vice President Executive Committee, Audit Committee, Former Chairman and Chief Executive Officer and Chief Financial Officer Compensation Committee McCormick & Company, Inc. Monsanto Corporation Executive Committee, Nominating and Corporate Audit Committee, Finance Committee JAMES E. NEVELS Governance Committee, Finance Committee Chairman The Swarthmore Group Compensation Committee Nominating and Corporate Governance Committee LEADERSHIP STEVEN C. VOORHEES JEFFREY W. CHALOVICH PATRICK E. LINDNER WARD H. DICKSON President and Chief Executive Officer Chief Commercial Officer Chief Innovation Officer Executive Vice President and President and President and Chief Financial Officer DONNA OWENS COX Corrugated Packaging Consumer Packaging Chief Communications Officer JULIA A.
    [Show full text]
  • Annual Report Filing
    An Annual Report must be filed by all business entities formed, qualified or registered to do business in the State of Maryland, as of January 1st. • WHO MUST FILE THE ANNUAL REPORT • WHERE TO FILE The Annual Report is a required filing for all business We have expanded the types of entities that can file entities, regardless of whether the business owns online this year through Maryland Business property, generates income or has conducted Express. Please visit the website to learn more: business activity in Maryland during the preceding (https://egov.maryland.gov/BusinessExpress year. This includes the following entity types, both Filings may be submitted in person by visiting our Domestic and Foreign: Public Services Center at our Headquarters in Stock, Tax Exempt Non-Stock, Non-Stock, Baltimore. The address is: Religious, Close, Benefit and Professional Corporations, State of Maryland - State Center 301 W. Preston Street, Room 801 Limited Liability Companies & Benefit LLCs, Baltimore, Maryland 21201 Limited Liability Partnerships, Limited Partnerships & Limited Liability Limited Filings may also be submitted by mail. Be sure to sign Partnerships, the Annual Report and include a check or money Statutory (Business Trusts), Real Estate order for the full amount of any required filing fee. Investment Trusts Send the completed package to: Failure to file the Annual Report may result in the Maryland Dept. of Assessments and Taxation forfeiture of the entity’s right to conduct business in Annual Report the State of Maryland. PO Box 17052 Baltimore, Maryland 21297-1052 REMINDER: To ensure proper filing, include your SDAT Department ID on your report, where requested, and on All other correspondence, including Amended Annual all communications with SDAT.
    [Show full text]
  • L3harris 2020 Annual Report
    2020 Annual Report FINANCIAL * 2019 2020 HIGHLIGHTS $ in millions NON-GAAP EARNINGS PER SHARE Organic Revenue* $17,677 $18,194 $11.60 $10.26 Non-GAAP EBIT* $3,039 $3,280 Non-GAAP EBIT Margin* 16.8% 18.0% 2019 2020 Capital Returns ADJUSTED FREE CASH FLOW (IN MILLIONS) Dividends $499 $725 Share Repurchases $1,500 $2,290 $2,686 $2,095 FIVE-YEAR CUMULATIVE TOTAL RETURN $295 $263 $270 LHX 2019 $198 2020 S&P 500 $147 NET DEBT/EBITDA LHX UP $109 170% $100 SINCE FY15 1.8 S&P UP 102% SINCE FY15 1.6 FY15 FY16 FY17 FY18 FY19 1/3/2020 FY20 ABOUT L3HARRIS TECHNOLOGIES 2019 2020 L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end TOTAL BACKLOG (IN MILLIONS) solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial $21,670 technologies across air, land, sea, space and cyber $20,146 domains. L3Harris has approximately $18 billion in annual revenue and 48,000 employees, with customers in more than 100 countries. *Includes or reflects non–GAAP financial measures (NGFMs) and/or pro forma financial 2019 2020 measures; refer to disclosures and NGFM reconciliations in “Non-GAAP and Pro Forma Financial Measures” section on pages 5-6. L3HARRIS TECHNOLOGIES 2020 ANNUAL REPORT LETTER TO SHAREHOLDERS Integrating a merger of equals while meeting stakeholder commitments is challenging even under ideal circumstances. 2020 was anything but ideal. Global health, economic and social crises tested the very fabric of our merger vision – to create a company with the scale, resources and capabilities to provide affordable, innovative and rapidly fielded solutions that address our customers’ mission critical needs.
    [Show full text]
  • 2 0 2 0 a N N U a L R E P O
    2020 ANNUAL REPORT STATEMENT OF COMPANY BUSINESS STOCKHOLDERS’ INFORMATION PACCAR is a global technology company that designs and manufactures premium quality light, medium and heavy duty commercial vehicles sold worldwide under Corporate Offices Stock Transfer Trademarks Owned by PACCAR Building and Dividend PACCAR Inc and its 777 106th Avenue N.E. Dispersing Agent Subsidiaries the Kenworth, Peterbilt and DAF nameplates. PACCAR designs and manufactures Bellevue, Washington Equiniti Trust Company DAF, EPIQ, Kenmex, 98004 Shareowner Services Kenworth, Leyland, Online diesel engines and other powertrain components for use in its own products and for P.O. Box 64854 Parts Counter, PACCAR, Mailing Address St. Paul, Minnesota PACCAR MX-11, P.O. Box 1518 55164-0854 PACCAR MX-13, PACCAR sale to third party manufacturers of trucks and buses. PACCAR distributes Bellevue, Washington 800.468.9716 PX, PacFuel, PacLease, 98009 www.shareowneronline.com PacLink, PacTax, PacTrac, aftermarket truck parts to its dealers through a worldwide network of Parts PacTrainer, Peterbilt, Telephone PACCAR’s transfer agent The World’s Best, TRP, 425.468.7400 maintains the company’s TruckTech+, SmartNav and Distribution Centers. Finance and leasing subsidiaries facilitate the sale of shareholder records, issues SmartLINQ Facsimile stock certificates and PACCAR products in many countries worldwide. PACCAR manufactures and 425.468.8216 distributes dividends and Independent Auditors IRS Forms 1099. Requests Ernst & Young LLP Website concerning these matters Seattle, Washington
    [Show full text]
  • ANNUAL REPORT FY 2020 United States Department of Education Betsy Devos Secretary
    ANNUAL REPORT FY 2020 United States Department of Education Betsy DeVos Secretary Federal Student Aid Mark A. Brown Chief Operating Officer Finance Office Alison L. Doone Chief Financial Officer November 16, 2020 This report is in the public domain. Authorization to reproduce it, in whole, or in part, is granted. While permission to reprint this publication is not necessary, the citation should be: U.S. Department of Education, Federal Student Aid, FY 2020 Annual Report, Washington, D.C., 20002. This report is also available under Performance Reports on the Federal Student Aid website at StudentAid.gov. To connect to Federal Student Aid through social media, please visit the Federal Student Aid website at StudentAid.gov or on Twitter at @FAFSA. Federal Student Aid strives to improve and enhance the content quality, report layout, and public accessibility of the Annual Report. Suggestions on how this report can be made more informative and useful are welcome. The public and other stakeholders are encouraged to submit all questions and comments to [email protected]. Contents Contents About This Report ............................................................. iii About This Report .......................................................................... v Overview of the Federal Student Aid Annual Report .................... vii Letter from the Chief Operating Officer of Federal Student Aid ....................................................................... ix Letter from the Chief Operating Officer of Federal Student Aid .... xi
    [Show full text]
  • Annual Report and Accounts 2020 and Is an Exact Copy of the Printed Document Provided to Unilever’S Shareholders
    Disclaimer This is a PDF version of the Unilever Annual Report and Accounts 2020 and is an exact copy of the printed document provided to Unilever’s shareholders. Certain sections of the Unilever Annual Report and Accounts 2020 have been audited. These are on pages 112 to 167, and those parts noted as audited within the Directors’ Remuneration Report on pages 90 to 99. The maintenance and integrity of the Unilever website is the responsibility of the Directors; the work carried out by the auditors does not involve consideration of these matters. Accordingly, the auditors accept no responsibility for any changes that may have occurred to the financial statements since they were initially placed on the website. Legislation in the United Kingdom and the Netherlands governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Except where you are a shareholder, this material is provided for information purposes only and is not, in particular, intended to confer any legal rights on you. This Annual Report and Accounts does not constitute an invitation to invest in Unilever shares. Any decisions you make in reliance on this information are solely your responsibility. The information is given as of the dates specified, is not updated, and any forward-looking statements are made subject to the reservations specified in the cautionary statement on the inside back cover of this PDF. Unilever accepts no responsibility for any information on other websites that may be accessed from this site
    [Show full text]
  • 2020 OIA Annual Report
    OFFICE OF THE INTERNAL AUDITOR Annual Report 2020 CPIC OIA Annual Report 2020 CITIZENS PROPERTY INSURANCE CORPORATION 301 W BAY STREET, SUITE 1300 JACKSONVILLE, FLORIDA 32202-5142 TELEPHONE: (904) 407-0121 February 12, 2021 To: Mr. Carlos Beruff, Citizens Board of Governors Chairman Ms. Bette Brown, Citizens Audit Committee Chairperson Mr. Marc Dunbar, Citizens Audit Committee Member Mr. Carlos Lopez-Cantera, Citizens Audit Committee Member Mr. Barry Gilway, President/CEO and Executive Director CC: The Honorable Ron DeSantis, Governor The Honorable Jimmy Patronis, Chief Financial Officer The Honorable Ashley Moody, Attorney General The Honorable Nikki Fried, Commissioner of Agriculture The Honorable Wilton Simpson, President of the Senate The Honorable Chris Sprowls, Speaker of the House of Representatives Members of Citizens Property Insurance Corporation Board of Governors Dear Messrs. Brown, Beruff, Dunbar, Lopez-Cantera, and Gilway I am pleased to submit our Office of the Internal Auditor (OIA) Annual Report as required by Section 627.351(6)(i).2., Florida Statutes. The report summarizes the department’s structure and staffing, applied audit methodology, and results from the audit work completed during 2020. I welcome your comments and suggestions regarding this report, and appreciate the support provided by the Board of Governors, the Audit Committee and Senior Management. The OIA looks forward to serving the Board of Governors, the State of Florida and contributing to Citizens’ efforts to achieve the corporation’s goals and objectives. Thank you for your continued support as we move into 2021. Respectively submitted, Joe Martins, CIA, CRMA, CFE Chief of Internal Audit Office of the Internal Auditor Carlos Beruff, Chairman, Manatee County ● Bette Brown, Monroe County ● Marc W.
    [Show full text]