Buffett Reaps Dividend Millions Without Berkshire
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Warren Buffett earns millions of dollars of dividend income every quarter even though Berkshire Hathaway Inc., his insurance and investment company, has never made a payout.
The money comes from the billionaire investor’s personal holdings in other U.S. companies, as disclosed in Berkshire’s quarterly filings with the Securities and Exchange Commission since 2006. [br]
Warren Buffett earns millions of dollars of dividend income every quarter even though Berkshire Hathaway Inc., his insurance and investment company, has never made a payout.
The money comes from the billionaire investor’s personal holdings in other U.S. companies, as disclosed in Berkshire’s quarterly filings with the Securities and Exchange Commission since 2006. [br]
Warren Buffett earns millions of dollars of dividend income every quarter even though Berkshire Hathaway Inc., his insurance and investment company, has never made a payout.
The money comes from the billionaire investor’s personal holdings in other U.S. companies, as disclosed in Berkshire’s quarterly filings with the Securities and Exchange Commission since 2006. [br]
The latest filing showed that he had multimillion- dollar stakes in 10 companies as of Dec. 31, according to this report from Bloomberg.
Payouts to Buffett peaked at an estimated $15.5 million a quarter, judging by his publicly disclosed stakes as of Sept. 30 and Dec. 31, 2008.
Last year, they tumbled as much as 44 percent as U.S. Bancorp and Wells Fargo & Co., two of his holdings, cut dividends. The fourth-quarter figure was $10.8 million.
Buffett’s portfolio at the end of 2009 included shares of three companies — Exxon Mobil Corp., General Electric Co. and United Parcel Service Inc. — in which Berkshire and its units weren’t invested.
Ingersoll-Rand PLC, Johnson & Johnson, Kraft Foods Inc., Procter & Gamble Co. and Wal-Mart Stores Inc. were also among his personal stakes. [br]
The filings don’t show his non- U.S. investments or holdings of securities besides stocks, which may be why this report DOESN’T mention his HUGE holdings in Goldman Sachs 😉 .
Dividend income – which, of course, is taxed at a lower rate than salaries / wages etc – helps explain why Buffett only receives $100,000 a year in salary at Berkshire,
according to Robert P. Miles, the author of “Warren Buffett Wealth.” Miles wrote about him last week in an article on Morningstar Inc.’s Web site.
