Toll shareholders approve CEO cash bonus plan

NEW YORK, March 12 (Reuters) - U.S. home builder Toll Brothers Inc (TOL.N: Quote, Profile, Research) said on Wednesday its shareholders approved a cash bonus plan for its Chief Executive Robert Toll.

The vote came despite the objections of two shareholder advisory companies, which said last week the bonus plan would enhance the CEO's pay at a time when Toll's share price is down because of the U.S. housing downturn.

The margin in Wednesday's voting was not immediately available.

(Reporting by Nick Zieminski, editing by Leslie Gevirtz)