Buffett's Berkshire (BRK-A) Gets $120M Windfall from Boosted Bank Dividends
Warren Buffett's Berkshire (NYSE: BRK-A)(NYSE: BRK-B) is having a much better year following yesterday's banking announcement.
Following stress test results, Berkshire will be getting $120 million from boosted bank dividends.
Here are a few notable bank holdings for Berkshire:
As reported Thursday, Buffett is also still holding on to 50,000 of Bank of America's (NYSE: BAC) Series T Preferred Stock and a warrant to purchase 700 million shares of the Corporation’s common stock for an aggregate purchase price of $5 billion in cash.
Mostly all U.S. bank stocks are trading higher on the session Friday.
Following stress test results, Berkshire will be getting $120 million from boosted bank dividends.
Here are a few notable bank holdings for Berkshire:
- Wells Fargo (NYSE: WFC) - Buffett has at 423.86 million shares and the bank is planning a 20 percent dividend boost to 30 cents;
- American Express (NYSE: AXP) - Buffett last reported holding 151.61 million shares. AnEx is planning to raise its dividend 15 percent to 23 cents;
- U.S. Bancorp (NYSE: USB) - about 61.3 million shares held. The bank is proposing an 18 percent boost to 23 cents; and
- Bank of New York (NYSE: BK) - Buffett was last at 19.6 million. BofNY expects a 15 percent dividend increase.
As reported Thursday, Buffett is also still holding on to 50,000 of Bank of America's (NYSE: BAC) Series T Preferred Stock and a warrant to purchase 700 million shares of the Corporation’s common stock for an aggregate purchase price of $5 billion in cash.
Mostly all U.S. bank stocks are trading higher on the session Friday.