No. of Recommendations: 3
And now, when referring to uses of cash, he doesn't just say that Berkshire pays no dividends, he says they don't "currently" pay dividends. Admittedly, one can read too much into that single word, "currently", but it is getting harder to rule out the possibility that that policy might change soon.
I think you are reading too much into it, and out of context, too.
He wrote "Berkshire does not currently pay dividends" in the section on Berkshire's financial strength, where he ends with "Berkshire is built to last".
But, what if they did start paying a dividend, how much would it be?
I get non-insurance operating earnings of $10.34 per b share.
Say they have a 50% payout, that's $5.17 per share, or 1.3%.
Not sure many folks will be excited about that. Buybacks are far better.