Warren Buffett’s Berkshire Hathaway Inc has urged shareholders to vote against a proposal that it consider spending some of its $48.2 billion of cash on a “meaningful” dividend. According to a Berkshire proxy filing on Friday, David Witt, a Cincinnati resident who owns nearly $8,600 of Berkshire stock, will propose the payout at the company’s May 3 annual meeting. Berkshire has not paid a cash dividend since 1967…Berkshire also disclosed that Buffett’s compensation rose 15 percent last year to $485,606. That includes his usual $100,000 salary, plus $385,606 for personal and home security. The company also said it paid most directors an extra $300 last year. That meant Bill Gates, the Microsoft Corp co-founder and world’s richest person, was awarded $2,100 last year for his work as a Berkshire director. [Reuters]
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