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Amazon.com investors reject all 14 outside proposals at meeting

Published 2024-05-22, 01:48 p/m
© Reuters. A view shows the logo of Amazon at the Amazon Fulfillment Center during a media tour ahead of the holiday season in Tepotztlan, Mexico, December 13, 2023. REUTERS/Gustavo Graf/File Photo

By Greg Bensinger

(Reuters) -Amazon.com investors voted against all 14 resolutions that asked the retailer to disclose more about its carbon emissions and its directors' donations, and to form a committee to oversee artificial-intelligence development, among other issues.

Amazon (NASDAQ:AMZN) announced the preliminary vote at its annual shareholder meeting on Wednesday, where all 12 directors were voted in for an additional term.

The company had asked shareholders to reject all of the outside proposals. Additional resolutions sought to have Amazon create a committee to address the financial impact of policy positions and produce reports on lobbying expenditures, warehouse working conditions and packaging materials.

CEO Andy Jassy appeared to indicate Amazon has no plans to announce a dividend, unlike this year's moves by its rivals Meta (NASDAQ:META) Platforms and Alphabet (NASDAQ:GOOGL). "We are convinced the best use of cash for customers and business and shareholders is investing in businesses in which we're pursuing," he said during a question-and-answer session.

Amazon and Tesla (NASDAQ:TSLA) remain the only members of the so-called Magnificent Seven tech stocks that do not offer dividends.

Jassy also said that Amazon's Alexa voice-assistant service would receive a "more expansive" generative AI update. "I am optimistic we'll be a leader here," he said. CNBC reported earlier on Wednesday that Amazon is considering charging customers a monthly fee for use of Alexa's generative AI offerings.

© Reuters. A view shows the logo of Amazon at the Amazon Fulfillment Center during a media tour ahead of the holiday season in Tepotztlan, Mexico, December 13, 2023. REUTERS/Gustavo Graf/File Photo

Amazon will later provide a full tally of the investor vote in a securities filing.

Shares in the retailer were virtually unchanged on Wednesday and had gained 22% so far this year.

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