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Madison Dividend Income Fund (BHBFX) proxy voting record 2026
Three of its ballots from this season. Vote first, then see what it did with the shares your savings paid for.
The question on the ballot
As filed
Madison Funds files this fund's proxy votes with the SEC once a year. This is what it did with the shares your retirement savings paid for.
SourceProxy-voting record filed by Madison Funds on 2026-08-24 · open the filing · vote table (BRD4J3_0001040612_2026.xml, 1.8 MB)
TickersBHBFX (Dividend Income Fund Class Y), MADAX (Dividend Income Fund Class A), MDMIX (Dividend Income Fund Class I), MADRX (Dividend Income Fund Cass R6) · share classes of one fund, with one proxy-voting record · as listed in its latest SEC filing of proxy votes
How it voted, by issue
Fund companies sometimes file the same proposal under different subjects. So that funds can be compared, each proposal is counted under the subject most of the filings we read gave it, the same for every fund on this site. Counted by this fund’s own filing alone, 7 of its 48 shareholder proposals would sit under a different issue, or under none. On management's own executive pay resolutions, this fund voted in favour 75% of the time across 28 votes.
| Issue | Proposals faced | Backed | Share backed |
|---|---|---|---|
| Climate & environment | 11 | 0 | 0% |
| Workers & human rights | 4 | 0 | 0% |
| Pay equity & inclusion | 1 | 1 | 100% |
| Corporate governance | 22 | 13 | 59.1% |
| Other social issues | 10 | 0 | 0% |
Ballots it voted
Nextera Energy, Inc. · 21 May 2026 · put on the ballot by shareholder · Climate & environment
Should Nextera Energy publish a fuller account of its emissions and how it plans to cut them?
Shareholders asked the company to disclose its greenhouse gas emissions more completely, or to have its reduction targets independently assessed, so that the plan can be checked rather than taken on trust.
AGAINST Madison Dividend Income Fund voted with 42,875 shares
“A proposal entitled ''Paris Agreement Alignment'' requesting NextEra Energy publish a report describing if and how the Company plans to reduce its total contribution to climate change and align its operations and investments with the Paris Agreement's goal of maintaining global temperatures well bel”
SourceMadison Funds, Form N-PX filed 2026-08-24 · accession 0001438934-26-001244 · series S000040132 · open the filing
Nextera Energy, Inc. · 21 May 2026 · put on the ballot by shareholder · Climate & environment
Should Nextera Energy publish a fuller account of its emissions and how it plans to cut them?
Shareholders asked the company to disclose its greenhouse gas emissions more completely, or to have its reduction targets independently assessed, so that the plan can be checked rather than taken on trust.
AGAINST Madison Dividend Income Fund voted with 42,875 shares
“A proposal entitled ''Report on Net Zero Business Performance Risks'' requesting the Board of Directors of NextEra Energy prepare a report within the next year, evaluating the potential costs and benefits to NextEra Energy created by aggressive emission reduction policies.”
SourceMadison Funds, Form N-PX filed 2026-08-24 · accession 0001438934-26-001244 · series S000040132 · open the filing
Chevron Corporation · 27 May 2026 · put on the ballot by shareholder · Workforce & human rights
Should Chevron assess the human rights risks its own operations create?
Shareholders asked for an assessment of the human rights risks arising from the company’s operations and business relationships, and for the findings to be published.
AGAINST Madison Dividend Income Fund voted with 23,500 shares
“Commission a Third-Party Report on Human Rights Processes”
SourceMadison Funds, Form N-PX filed 2026-08-24 · accession 0001438934-26-001244 · series S000040132 · open the filing
Pepsico, Inc. · 6 May 2026 · put on the ballot by shareholder · Workforce & human rights
Should Pepsico assess the human rights risks its own operations create?
Shareholders asked for an assessment of the human rights risks arising from the company’s operations and business relationships, and for the findings to be published.
AGAINST Madison Dividend Income Fund voted with 14,250 shares
“Shareholder Proposal - Report on Human Rights Oversight.”
SourceMadison Funds, Form N-PX filed 2026-08-24 · accession 0001438934-26-001244 · series S000040132 · open the filing
Fastenal Company · 23 April 2026 · put on the ballot by shareholder · Pay equity & inclusion
Should Fastenal publish the workforce breakdown it already files with the government?
Shareholders asked the company to publish its EEO-1 report — the table of employees by job category, race and sex that it is already required to submit to federal regulators — instead of keeping it confidential.
FOR Madison Dividend Income Fund voted with 55,200 shares
“Shareholder proposal relating to an EEO-1 reporting disclosure policy, if properly presented at the annual meeting.”
SourceMadison Funds, Form N-PX filed 2026-08-24 · accession 0001438934-26-001244 · series S000040132 · open the filing
Bank of America Corporation · 4 May 2026 · put on the ballot by shareholder
Should the person who runs Bank of America also chair the board that supervises them?
Shareholders asked the company to require that the chair of the board be an independent director rather than the chief executive, so that the body overseeing management is not led by the person being overseen.
AGAINST Madison Dividend Income Fund voted with 49,025 shares
“Shareholder proposal requesting independent board chair”
SourceMadison Funds, Form N-PX filed 2026-08-24 · accession 0001438934-26-001244 · series S000040132 · open the filing
Exxon Mobil Corporation · 27 May 2026 · put on the ballot by shareholder
Should the person who runs Exxon Mobil also chair the board that supervises them?
Shareholders asked the company to require that the chair of the board be an independent director rather than the chief executive, so that the body overseeing management is not led by the person being overseen.
AGAINST Madison Dividend Income Fund voted with 30,100 shares
“Independent Chair, a proposal overwhelmingly defeated on 16 separate occasions since 2000”
SourceMadison Funds, Form N-PX filed 2026-08-24 · accession 0001438934-26-001244 · series S000040132 · open the filing
Bank of America Corporation · 4 May 2026 · put on the ballot by shareholder · Social
Should Bank of America’s board account for how animals are treated in its supply chain?
Shareholders asked for a report on how the board oversees animal welfare risk in the company’s operations and supply chain, and on how the company’s practices compare with its stated policy.
AGAINST Madison Dividend Income Fund voted with 49,025 shares
“Shareholder proposal requesting report on board oversight of risks related to animal welfare”
SourceMadison Funds, Form N-PX filed 2026-08-24 · accession 0001438934-26-001244 · series S000040132 · open the filing
Other funds Madison Funds votes
The same filer reports these alongside this one, in the same annual filing.
No 401(k) plan we index offers this fund. Its record is here because the fund files it with the SEC, as every fund must: whoever holds it, in an IRA, a brokerage account or a plan we have not indexed, the fund votes those shares as shown on this page.