Berkshire more inclined to repurchase stock than pay dividends: Buffett

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NEW YORK (Reuters) – Warren Buffett, chairman and CEO of Berkshire Hathaway Inc (BRKa.N), said Berkshire, sitting on $116 billion of cash, is “more inclined” to repurchase stock than pay dividends as a means to use excess cash. Buffett, speaking on CNBC TV on Monday, said the corporate income tax rate cut signed into law by U.S. President Donald Trump is a “huge tailwind” for U.S. companies and that it is “really good for Berkshire”. Reporting by Jennifer Ablan and Jonathan Stempel; Editing by Peter GraffOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters