Buffett’s Bank Dividends to Rise by $70 Million on Fed Approvals
Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., speaks during an interview in New York, on Oct. 22, 2013.
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Warren Buffett’s bet on U.S. banks will pay out about $70 million more in dividends annually after their capital plans were approved.
The Federal Reserve said Wednesday that it will allow the increased payouts after running stress tests on the country’s largest banks. Buffett’s Berkshire Hathaway Inc. is the biggest shareholder in Wells Fargo & Co. and American Express Co.