A transfer agent is a financial institution assigned by a corporation to maintain the financial records of each of its shareholders and tracking each investor’s account balance.
The transfer agent also works with other parties to ensure investors receive dividends and interest payments. They record all shareholder transactions; cancel, issue, or reissue certificates; and process investor mailings.
Common and preferred stock shareholders also have voting rights, such as merger activities and corporate sales. These votes are managed through transfer agents who send proxy information to shareholders.
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