JPMorgan hikes Jamie Dimon's pay to $28 million

JPMorgan directors paid chief executive Jamie Dimon $28 million in total compensation for 2016, a 3.7% increase from the prior year, the company said on Thursday.

His package includes a base salary of $1.5 million as well as cash and stock-related instruments that are tied to Dimon's performance, the filing with the U.S. Securities and Exchange Commission said.

The bank on Friday January 13 reported Q4 earnings, which beat analysts' expectations and marked a record-breaking quarter.

"2016 demonstrated the strength and depth of our platform with record net income and EPS in an increasingly complex global environment," Dimon said in a statement.

"The US economy may be building momentum," he added. "Looking ahead there is opportunity for good, rational and thoughtful policy decisions to be implemented, which would spur growth, create jobs for Americans across the income spectrum and help communities, and we are well positioned to play our part."