Buffett’s Board Opposes Shareholder’s Dividend Proposal
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Warren Buffett’s Berkshire Hathaway Inc., which had $48.2 billion in cash as of Dec. 31, is urging shareholders to vote against a proposal for the board to consider paying a “meaningful” dividend.
Directors review annually whether to retain all earnings, and will follow previously stated principles about capital management, according to a proxy filing today. Buffett has said the company hasn’t paid a dividend because he’s been able to generate better returns for investors by pursuing takeovers, buying securities and investing in subsidiaries like MidAmerican Energy and the Burlington Northern Santa Fe railroad.