Executives largely shrugged off a new 1% tax on stock buybacks as the cost of doing business.
Even with the 1% tax, stock buybacks are the preferred way to return cash to shareholders, Mr. Krone said at a conference in February.
Stock repurchases by Berkshire and the publicly traded companies it owns benefited investors, he wrote in the Feb. 25 letter.
For one, share repurchases typically don’t commit them to continuing to buy shares, and offer flexibility on timing.
“We only really consider share repurchases when we have an attractive repurchase price,” the CFO said.
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