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I thought he said pretty clearly that he wouldn’t be able to justify NOT paying a dividend if the cash position remained over $100b for more than another (?) year or two. I can’t remember the exact time frame but that was the general idea.

I think this was a couple of years ago - I'll have to look. He asked the shareholders to vote, and 96% (IIRC) said they didn't want a dividend.

Also a dividend creates a big tax problem for Warren, and for other large shareholders. They don't need or want current added taxable income. And they also face the problem of where to reinvest it. Not unlike the problem BRK faces - where to put the money?
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