W3Schools

The Tell: How Buffett is set to make a cool $12 billion profit on a Bank of America wager

Warren Buffett is a great example of how the rich get richer, as his Berkshire Hathaway Inc. investment vehicle can make a quick $12 billion profit from its $5 billion investment in Bank of America Corp.

Berkshire BRK.B, +0.04% announced Friday that it will exercise warrants to buy 700 million common shares of Bank of America at about $7.14 ($7.142857 to be exact), a cost of $5 billion. The warrants will be exercised when the bank raises its quarterly dividend to 12 cents a share from 7.5 cents a share, beginning in the third quarter.

See also: Banks boost dividends, buybacks after Fed’s stress test, except for Capital One.

>>> Original Source <<<

Comentários