“Be fearful when others are greedy and greedy when others are fearful” – Warren Buffett
April 20, 2016 / /
In 1989 and 1990, Berkshire Hathaway paid $290 million for its 10% stake in Wells Fargo. Today, the dividends from that investment alone add up to more than $700 million a year. The shares themselves, meanwhile, are worth more than $23 billion.
Fascinating article from Motley Fool regarding Berkshire Hathaway’s bet on Wells Fargo which shows the power of dividends. Wells Fargo’s dividend has increased 15-fold since Berkshire Hathaway became the bank’s biggest shareholder in 1990.
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