Which investment company is led by Warren Buffett and has never paid a cash dividend since 1967?

Berkshire Hathaway is led by Warren Buffett and has never paid a cash dividend since 1967.

Berkshire Hathaway is a holding company that owns operating businesses and large publicly traded investments. Its businesses include GEICO, BNSF Railway, Berkshire Hathaway Energy, and numerous manufacturing, service, and retail companies. Warren Buffett has served as chairman and chief executive since 1965.

Berkshire’s board has retained earnings instead of paying regular cash dividends because management argues that reinvesting capital can create greater long-term value for shareholders. The company’s last cash dividend was paid in 1967; Buffett has also written that the dividend decision was made after he failed to persuade himself that shareholders would benefit more from a distribution.

Berkshire’s Class A shares are famous for their very high price and have never been split. Its market capitalization reflects a diversified operating conglomerate, not merely Buffett’s personal investments.