J.W. Mays, Inc. (NASDAQ:MAYS), a company specializing in operating nonresidential buildings, announced the results of its annual shareholder meeting held on Tuesday. Shareholders voted to maintain the number of directors at seven and re-elected all company nominees to the board.
The meeting, which took place on November 26, 2024, also saw the ratification of Prager Metis CPA’s, LLP as the independent registered public accounting firm for the fiscal year ending July 31, 2025. The decision was nearly unanimous, with 1,369,485 votes in favor and only 819 against.
In the election of directors, Jennifer L. Caruso, Robert L. Ecker, Mark S. Greenblatt, Steven Gurney-Goldman, Melinda S. Koster, Dean L. Ryder, and Lloyd J. Shulman were all re-elected with a significant majority of votes. Non-votes for each director ranged from 72,476 to 72,476, indicating a strong shareholder consensus on the board's composition.
Additionally, shareholders approved a resolution on the compensation of named executive officers, with 1,295,958 votes for, 1,822 against, and 48 abstentions. In advisory votes on the frequency of future executive compensation advisory votes, the majority favored the option of holding these votes every year, with 1,287,873 votes, while 9,955 preferred every three years.
InvestingPro Insights
To provide additional context to J.W. Mays, Inc.'s recent shareholder meeting results, let's examine some key financial metrics from InvestingPro. As of the latest data, J.W. Mays has a market capitalization of $86.64 million USD, reflecting its position as a relatively small player in the nonresidential building operations sector.
The company's financial health shows some mixed signals. An InvestingPro Tip indicates that J.W. Mays' liquid assets exceed its short-term obligations, suggesting a solid short-term financial position. This aligns with the shareholders' confidence demonstrated in the recent meeting.
However, another InvestingPro Tip reveals that the company has not been profitable over the last twelve months. This is further supported by the negative operating income of $0.62 million USD for the same period. The lack of profitability might explain why the company does not currently pay a dividend to shareholders, as noted in another tip.
Despite these challenges, J.W. Mays has managed to generate revenue of $21.59 million USD in the last twelve months. The company's gross profit margin stands at a respectable 29.83%, indicating some efficiency in its core operations.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics that could provide deeper insights into J.W. Mays' financial position and market performance.
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