Warren Buffett’s Berkshire Hathaway has announced a new $1,000-per-share dividend payment, the largest in the company’s history, in an effort to spur economic growth.
The new dividend is also the largest of its kind in the history of Berkshire Hathway.
The company will now pay out the proceeds of the new dividend in quarterly dividends, starting April 30.
The announcement came shortly after the company announced a record $15.5 billion in quarterly earnings.
The record was surpassed by the $13.9 billion the company recorded last year.
The latest quarterly earnings record is a milestone for the company, which has seen record profits since the financial crisis of 2008.
The first-quarter profit was $7.5 million higher than last year’s.
Buffett, who has a stake in Berkshire Hathaw and is a member of the board, said that he wanted to do something for the economy to help boost the economy.
He added that he didn’t know what the tax would be until he started thinking about it.
The tax is not just for Warren Buffett, the company said.
The proceeds of these dividends will be used to support tax reform and to build a tax system that will grow our economy and reduce our taxes.
Warren Buffett has a 10.6 percent stake in the investment giant.
He is also chairman of the billionaire-owned company Berkshire Hathafield, the second-largest publicly traded company in the United States.