By Adriano Marchese 



  Lloyds Banking Group PLC said Thursday that resolutions for the approval of the director remuneration policy and the group's long-term share plan for 2020 have passed with relatively low votes in favor at its annual general meeting. 


  The FTSE 100 bank said the resolution for the approval of the directors' remuneration policy section of the remuneration report received 63.82% of the votes, while the group's long-term share plan 2020 rules were approved by shareholders with 63.69% of votes. 


  "The Board recognizes that developing a new remuneration approach that meets the needs of all shareholders is difficult, but felt the introduction of this new policy, which includes a significant reduction and harmonization in pension contributions, would ensure greater alignment with shareholders," the company said in a statement. 


  It noted that it will continue to consult with shareholders and other stakeholders and will consider the full range of feedback as it implements the new remuneration policy. 


  Write to Adriano Marchese at adriano.marchese@wsj.com