Hugh Johnson, chief investment officer at the First Albany Corporation, said that there were still good reasons for companies not to pay dividends, including the need for cash to reinvest in the company and to use in buying other companies.
The special dividend includes the regular quarterly dividend of approximately $11 million and is payable to shareholders of record as of July 22 , 2010
Early dividends include a 5-2 away victory for Mamelodi at Santos on Wednesday, but the Chiefs, though struggling for goals, should present sterner opposition.
And the broad market, as measured by the S&P 500′s price appreciation (no dividends included), rose 47% over the same period.
They are up 26% thus far this year, dividends included, versus 8% for the S&P 500 and 5% for the Nasdaq Composite.
A number of other companies were quoted without the right to the latest dividends, including British Gas owner Centrica, down 14.3p at 330.6p, and Old Mutual, 8p lower at 196p.
By the end of May he will probably have taken $809 million out of the company in dividends, including regular ones.
There are 23 companies in the sector that pay dividends, including Microsoft and Qualcomm, and 60 that don't.
Berkshire's book value per share gained 11% in 2007 against only 5.5% for the S&P 500 with dividends included.
It's market valuation closely followed the S&P's 2008 drop of 37%, dividends included.
