May 15, 2018 / 4:40 PM / 2 years ago

JPMorgan shareholders vote to back board, executive pay

FILE PHOTO: A sign outside the headquarters of JP Morgan Chase & Co in New York, U.S., September 19, 2013. REUTERS/Mike Segar/File Photo

NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N) shareholders on Tuesday voted to back the bank’s management on all of its propositions at the annual shareholder meeting in Plano, Texas, including to reelect the entire board of directors and to approve executive compensation.

Each director on the board of the largest U.S. bank by assets received at least 88 percent of shareholder votes, and 93 percent of shareholders approved executive compensation, including chairman and chief executive officer Jamie Dimon’s pay package.

Dimon was paid $29.5 million for 2017, up 5.4 percent from 2016.

A proposal to allow shareholders who own at least 20 percent of the bank’s shares to call a special meeting with other investors was approved by 58 percent of shareholders. In recent years, investors have voted to reject proposals to lower the threshold below 20 percent.

During a wide ranging question-and-answer session, Dimon told shareholders the bank would review investments in private prisons and an oil drilling project in the Amazon rainforest.

Reporting By Elizabeth Dilts; Editing by Meredith Mazzilli

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