Stock Split Means You Can Afford Buffett Shares

Shareholders approve price cut; shares now $66
By Nick McMaster,  Newser Staff
Posted Jan 20, 2010 2:31 PM CST
Stock Split Means You Can Afford Buffett Shares
Berkshire Hathaway Chairman and CEO Warren Buffett.   (AP Photo/Jin Lee, File)

Berkshire Hathaway shareholders approved a 50-for-1 stock split today, making shares of Warren Buffett's company affordable for a wider range of investors. The price of Class B shares will drop from $3,300 to $66. Class A shares, which confer stronger voting power, remain a princely $101,700.

Berkshire asked for the split because it wanted to make shares available to investors in Burlington Northern, the railroad purchased by Berkshire in November. The split also may pave the way for Berkshire to join the S&P 500, which requires that member stocks attain a certain liquidity threshold, CNNMoney reports.
(Read more Berkshire Hathaway stories.)

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