Warren Buffett's Berkshire Hathaway is on pace to collect roughly $619 million a year in dividends from Bank of America after the bank's board approved a 14% dividend increase in July. The quarterly payout rises to $0.32 a share from $0.28, lifting the forward annual dividend to $1.28 a share. Berkshire currently holds 483,394,015 shares of Bank of America, according to CNBC, even after trimming its position by about 30.2 million shares, or 5.9%, in the second quarter. Bank of America reported second-quarter net income of $9.1 billion, up 27% from a year earlier, with earnings per share up 34% to $1.21. The bank's payout ratio is roughly 28% of earnings, and its 10-year dividend growth rate is about 15.6% annualized.
Bank of America CorpBank of America raised its dividend by 14% and reported strong Q2 earnings.
Berkshire Hathaway IncBerkshire Hathaway will receive increased annual dividends from its Bank of America stake.
