Berkshire buys back record $25bn of stock

NEW DELHI: Warren Buffett’s Berkshire Hathaway bought back a record $24.7 billion of its own stock last year and said there’s more to come, as the conglomerate struggled to find other ways to deploy its enormous pile of cash.
The company’s purchase of $9-billion shares in the fourth quarter matched a record set in the previous three-month period, Buffett said on Saturday in his annual letter to investors. “Berkshire has repurchased more shares since yearend, and is likely to further reduce its share count in the future,” Buffett, 90, said in the letter. “That action increased your ownership in Berkshire’s businesses by 5.2% without requiring you to so much as touch your wallet.”

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