The Dividend Disadvantage
(Excerpts from the Warren Buffet Annual Letter March 2013)
“A number of Berkshire shareholders – including some of my good friends – would like Berkshire to pay a cash dividend. It puzzles them that we relish the dividends we receive from most of the stocks that Berkshire owns, but pay out nothing ourselves. So let’s examine when dividends do and don’t make sense for shareholders.”
GR Advisory & Training 