Berkshire more inclined to repurchase stock than pay dividends: Buffett

Berkshire more inclined to repurchase stock than pay dividends: Buffett

FILE PHOTO: Berkshire Hathaway CEO Warren Buffett plays bridge during the Berkshire annual meeting weekend in Omaha, Nebraska May 3, 2015. REUTERS/Rick Wilking
NEW YORK: Warren Buffett, chairman and CEO of Berkshire Hathaway Inc , said Berkshire, sitting on US$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 Graff)
Source: Reuters
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