The Toronto Blue Jays exercised their 2016 contract options on Jose Bautista, Edwin Encarnacion, and R.A. Dickey on Tuesday, less than 24 hours after Mark Shapiro was introduced as the club's new president and CEO.

Bautista, the six-time All-Star who turned 35 last month, will earn $14 million next season, while Encarnacion will make $10 million. Dickey, the 41-year-old knuckleballer, will make $12 million in 2016 as the Blue Jays look to repeat as division champions.

With both Bautista and Encarnacion back for another season, the Blue Jays retain two major pieces from the lineup that scored 127 more runs than the second-best offensive team in 2015. Bautista, the club's longest-tenured position player, bashed 40 home runs with a .913 OPS (149 OPS+) in 153 games this season while leading the American League with 110 walks. Encarnacion was equally impressive, slugging 39 homers with a .929 OPS (153 OPS+) in 146 contests.

Though Dickey stumbled through the first two months of the season, he improved dramatically as the campaign progressed, authoring a 2.80 ERA over his final 15 starts. For a third straight season, he led Toronto in innings pitched, finishing the year with a 3.91 ERA (101 ERA+) and 1.19 WHIP in 33 starts.

The Blue Jays also declined their $3-million option on infielder Maicer Izturis, who missed the entire 2015 campaign after suffering a shoulder injury in spring training. He will receive a $1-million buyout.