Sorry Wal-Mart Employees... Warren Buffett Just Got a $40 Million Yearly Raise Today

While Wal-Mart (NYSE: WMT) may be getting all the headlines today after raising the minimum wage at the retailer to $9/hour, one of the world's richest men Warren Buffett also got a pay raise today.

With Coca-Cola (NYSE: KO) announcing moments ago that it will raise its dividend 8.2%, that means an extra $40 million per year for Mr. Buffett's Berkshire Hathaway (NYSE: BRK-a) (NYSE: BRK-b).

Berkshire owns 400,000,000 shares of Coca-Cola. So the $0.10/share hike in the annual dividend to a rate of $1.32/share moves his annual dividend payout to $528 million.

This will be Coke's 53rd consecutive annual dividend increase.

Not only did Coca-Cola raises its dividend today, but Wal-Mart raised its dividend also. Buttett is also a shareholder of Wal-Mart. The 2.1% dividend hike at Wal-Mart will give Buffett an extra $2.4 million, annually.

The moral of the story is that stocks with growing dividends are a gold mine for investors.

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