Cash Pile

Buffett Downplays Berkshire Dividend

During the company’s annual meeting.

After Berkshire Hathaway Chief Executive Warren Buffett was embroiled in an insider-trading scandal concerning former executive David Sokol, the financing guru opened up the company’s annual meeting for tens of thousands of people. During the meeting on Saturday, Buffett downplayed the notion that Berkshire, which some analysts estimate will have a cash pile of $50 billion by year’s end, would issue a dividend to shareholders. When asked if Berkshire shareholders desire a yield, Buffett said, “I’m not sure how many would.” Berkshire shares have underperformed since the depth of the credit crisis, leading more people to wonder if they would issue a dividend. Other highlights of the meeting included an animated short featuring Buffett defeating an evil trading machine called “MBA” from the year 2085 with the help of “The Governator,” Arnold Schwarzenegger, and a parody of NBC’s The Office, with Buffett as the new boss.