Happy Monday!

Welcome back to the Dividend Data Weekly!

As promised, today, we will be focusing on Berkshire Hathaway’s Annual Meeting which happened last Saturday and man was it a party to remember!

Also, before we jump in, make sure to check out this past Friday’s Dividend Data Video where I focused on Disney’s Earnings & How Warren Buffet invests to beat high inflation.

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THE KEY STORY

A Memorable Party in Omaha, Nebraska!

Last weekend, Warren Buffett & Berkshire Hathaway hosted their annual meeting in Omaha, Nebraska — sadly, for the first time without Charlie Munger who would have been 100 years old.

I wanted to take some time to share just a few of the highlights three of the key points/highlights from the meeting. For more of my thoughts on the Buffett extravaganza, make sure to check out my special edition YouTube video with nearly 15 minutes of my thoughts!

1. Operating Earnings Soar

When it comes to Berkshire’s business, they had a phenomenal Q1 ‘24 with $11.222B in Operating Earnings vs. $8.065B in Q1 ‘23 representing 39% YoY growth. A majority of the increase in the earnings came from a $2.3B+ increase from the insurance side of the business. Before Berkshire shareholders get too excited, Buffett does not expect this type of performance every quarter rest of the year, but rather, there were unique conditions this quarter that helped them have low expenses and higher rates allowing them to get better yields on their cash.

2. Cash Balances = Gushing

Berkshire is up to over a whopping $182B+ (compared to $163B+ in 2023 & ~$125B in 2019). While Berkshire is in the position to do a massive acquisition — or several for that matter — Buffett can just continue to keep their cash treasure trove in 5.5% yielding treasuries printing away.

3. The Sign Off

As always, Buffett had his fair share of incredible one liners both the ones that were filled with sharp wisdom and others that were just hilarious.

My favorite one of the day? When Warren Buffett said his thank yous and goodbyes to all of the attendees at the meeting and shared “I not only hope that you come next year, but I hope that I come next year.”

Warren — we so hope to see you too next year!

THE VIDEO

Disney’s CFO on CNBC

Disney’s CFO, Hugh Johnston, made appearance on CNBC’s Squawk Box. In case you missed it (since it was at ~6:30 AM EST!) here were a few of the key points:

• EPS was $1.21 versus $1.10 in expected EPS. Revenue was $22.08B versus $22.11B expected.

• Disney+ Paid Subscribers increased by 6% QoQ to 117.6M

• The Company will be profitable in streaming by the end of Q4 and “will build on that in ‘25”

• He does expect their to be “flattening at some point” in terms of the meaningful decrease in revenue in the Linear TV and “would not be surprised” if that point comes in the next couple of years

Make sure to check out the full interview here

INVESTING ARTICLES & STORIES

Intel, Ford, Pfizer, Disney

1. Intel Sees Revenue Falling Below Midpoint on US Huawei Ban (Bloomberg)

2. Ford names ex-Lucid Motors exec as next CFO, promotes current chief (CNBC)

3. A Struggling Pfizer Looks for Help From a Wall Streeter (Barron’s)

4. Disney’s streaming business gets closer to becoming profitable (The Verge)
   

NOTABLE EX-DIVIDEND DATES THIS WEEK

Microsoft, Kroger, Target, Visa

Why does this matter?

Investors who purchase a stock on its ex-dividend date or after will not receive the next dividend payment.

• 5/13 — Delta Airlines, Dolby Laboratories, Invesco,

• 5/14 — Exxon Mobil, Kroger, Target

• 5/15— Chesapeake Energy, Eli Lilly, Microsoft

• 5/16— Amgen, Apollo, BP, Chevron, Hilton, Hershey, Honeywell, Moody’s, SAP, Starbucks, JM Smucker, Visa, Whirlpool

• 5/17 — Adidas, Jefferies, Papa John’s, Ubiquiti, Wynn Resorts

SOMETHING FUN

Buffett & Munger 2024?!

The problem with the 2024 presidential candidates? They are too young!

So I suggest, Buffett & Munger 2024. What can be better than a 93 year old and a dead man?

Make sure to check out all of the merch including hats, T-shirts, stickers, etc. I put together here!

Thanks for the read! Let me know what you thought by replying back to this email.

— Zach

Disclaimer: Dividend Dividend Weekly (Dividend Data) is not a professional financial service. All materials released from Dividend Data Weekly (Dividend Data) are for educational and entertainment purposes. Dividend Data Weekly (Dividend Data) is not a replacement for a professional's opinion. Contributors to the Dividend Data Weekly (Dividend Data) might have equities mentioned in the newsletter