Work the floor. Get your corporate communications team out there. Have them talk to the shareholders - and not just 'hello' and 'goodbye'. You won't get a better opportunity to find out what they're thinking.
Include the newbies. Send a special reminder out to anyone who has become a shareholder in the past year. And make a point of talking to them.
Rethink the agenda. It doesn't have to be the same every year. Give your audience reasons to stay awake. It needn't be the CEO who gives the keynote presentation. Had a year of mergers? Get the M&A director on stage.