Special topic: Buffett's 2024 shareholders 'meeting hits heavily

Warren BuffettfulltiltpokerBerkshire Hathaway does not pay dividends despite having hundreds of billions of dollars in cash reserves. A company can distribute part of its earnings and repay shareholders by paying dividends.

But Buffett hopes he can use his capital in a more profitable way. In fact, Buffett has said that if he feels he cannot use capital efficiently, he will use a repurchase plan to return capital to shareholders rather than dividends.

"There is an implicit promise in dividends that you will always pay dividends, rather than reduce them," Buffett said in a 2018 interview with media, adding that in between,"we may tend to buy back."