Have cash, will hoard

It's not just Infosys, a clutch of heavyweights, too, are sitting on a huge cash pile

Illustration: Kishore Das

The irony is stark. Warren Buffett is a vocal advocate of investing in companies that pay dividends. Be it IBM, Coca-Cola, American Express or Wells Fargo, Procter & Gamble, Walmart or ExxonMobil, Berkshire Hathaway’s favourite investments all pay dividends regularly. But Berkshire itself hasn’t paid out a cent in dividend since 1967. That year, it paid 10 cents a share and the Oracle of Omaha insists, even now, that he must have been in the bathroom when that decision was approved.