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No. Berkshire Hathaway has not declared a cash dividend since 1967, according to its 2025 annual report. CEO Greg Abel reiterated the company’s reinvestment rationale in March 2026: he and Warren Buffett believed keeping and reinvesting cash could generate better returns for shareholders than paying it out. That is management’s reasoning, not a guarantee of future investment performance.
Does BRK.B pay dividends?
No. Berkshire Hathaway’s disclosed cash-dividend policy applies to its common stock, including both NYSE-listed Class A (BRK.A) and Class B (BRK.B) shares. The company’s 2025 annual report says, “Berkshire has not declared a cash dividend since 1967.”
This describes the company’s record; it does not mean Berkshire is legally prohibited from declaring a dividend or has promised never to do so. Its policy could change.
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1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsWhy doesn’t Berkshire Hathaway pay a dividend?
Management has said it believes Berkshire can use retained cash more effectively by reinvesting it in the business and other opportunities. In March 2026, The Associated Press reported that Abel said he and Buffett believed this approach could generate better returns for shareholders than distributing cash as a dividend.
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That is a management rationale, not an assurance that reinvestment will outperform a dividend or produce a particular return. In a February 2026 shareholder letter, Abel described the balance sheet as “a strategic asset to be deployed at the right time,” as quoted by The Associated Press.
Are Berkshire share buybacks a dividend?
No. A dividend is a cash distribution to shareholders. A buyback is a repurchase of the company’s own shares; it does not give every shareholder a scheduled cash payment. Berkshire’s repurchase program is discretionary, so its existence does not mean the company is regularly buying shares or paying investors.
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How Berkshire’s repurchase program works
Berkshire’s 2025 annual report says the CEO may authorize repurchases after consulting the board chair if the CEO believes the share price is below the company’s conservatively determined intrinsic value. Purchases may occur in open-market or privately negotiated transactions. Berkshire says it will not repurchase shares if doing so would reduce its combined cash, cash equivalents, and U.S. Treasury bills below $30 billion.
The program sets no maximum amount, has no expiration date, and does not obligate Berkshire to buy any particular amount. The filing reports no repurchases during calendar 2025. The Associated Press reported that Berkshire resumed buying back shares in March 2026 after nearly two years without repurchases. Activity is date-sensitive; the annual report and the March 5, 2026 AP report describe different periods, not a recurring payout schedule.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the no-dividend policy means for investors
If you need scheduled cash income from an investment, Berkshire’s current disclosed practice does not provide it through cash dividends. Whether BRK.A or BRK.B fits an individual portfolio depends on that investor’s circumstances; the absence of a dividend alone does not establish suitability, future performance, or tax consequences.
For date-sensitive details, consult Berkshire’s latest filings and shareholder communications. The 2025 annual report documents the dividend history and repurchase terms, while management’s explanation and reported buyback activity may change over time.
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