Berkshire Buybacks Hit $4.53 Billion Under Greg Abel, the Highest Quarterly Total in 5 Years
Updated
Updated · Yahoo Finance · Aug 10
Berkshire Buybacks Hit $4.53 Billion Under Greg Abel, the Highest Quarterly Total in 5 Years
3 articles · Updated · Yahoo Finance · Aug 10
Summary
$4.53 billion of Berkshire Hathaway stock was repurchased in the second quarter, with buybacks accelerating in May and June after none in April.
The total marks Berkshire's largest quarterly buyback in five years and extends spending under its 2018 repurchase policy to more than $82 billion.
Berkshire uses buybacks as its main shareholder-return tool because it pays no dividend, while shrinking the share count lifts each remaining investor's ownership stake.
The repurchases add to a broader Q2 cash deployment push under CEO Greg Abel, who also ended Berkshire's 14-quarter streak of net stock sales.