Warren Buffett, chairman and CEO of Berkshire Hathaway, has reassured shareholders that his company’s record cash pile is not a cause for concern. The holding company, which owns a stake in the Financial Times parent company, announced a massive $90 billion increase in its cash reserves last month.
Buffett expressed confidence in the long-term prospects of Berkshire’s investments and businesses, saying that the company’s financial position is “strong” and its future outlook remains positive. He also emphasized that Berkshire has a proven track record of generating returns for shareholders through its investments in various sectors, including insurance, retail, and manufacturing.
Despite the surge in cash reserves, Buffett denied any concerns about the company’s use of funds or the potential impact on dividend payments. He stated that Berkshire will continue to invest in its businesses and pay dividends to its shareholders as per its dividend policy.
The comments from Buffett come ahead of Berkshire’s annual meeting, where shareholders are expected to vote on key issues including the company’s governance structure and executive compensation.
Source: https://www.ft.com/content/114a157a-6dd8-4705-9efa-53fbe768887f