Goldman Sachs (GS) Approved to Increase Dividend by Feds; to Redeem Stock Issued to Berkshire Hathaway (BRK.A) (BRK.B)

Goldman Sachs Group, Inc. (NYSE: GS) announced Friday that the Federal Reserve has concluded that it has no objection to Goldman Sachs’ proposed 2011 capital actions, which could open the bank up to repurchase of outstanding common stock and a potential increase in our quarterly common stock dividend.

The firm said that it will redeem in full, 50,000 shares of the Company’s 10% Cumulative Perpetual Preferred Stock held by Berkshire Hathaway Inc. (NYSE: BRK-A) (BRK-B).

The redemption date will be April 18, 2011. Berkshire Hathaway continues to hold the warrant to purchase 43,478,260 shares of the Company’s common stock, par value $0.01 per share, which Berkshire Hathaway purchased from the Company concurrently with the Preferred Shares on October 2008.

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