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Buffett Reaps $102 Million as Dimon Gets Dividend Raise

Warren Buffett’s cash hoard will pile up $120 million faster each year and Jamie Dimon will get a $1.85 million raise now that JPMorgan Chase & Co., Wells Fargo & Co., American Express Co. and U.S. Bancorp are boosting payouts.

Buffett’s Berkshire Hathaway Inc. is one of the biggest holders of Wells Fargo, which increased its dividend 20 percent, as well as AmEx with a 15 percent jump and U.S. Bancorp, which announced an 18 percent rise. The second-richest American has said he personally owns shares of JPMorgan, whose dividend rose 27 percent. Dimon is the bank’s chief executive officer and owns 5.78 million shares.