5 of Warren Buffett’s Largest Berkshire Hathaway Stocks Are Raising Their Dividends Every Year

If any investor has stood the test of time, it’s Warren Buffett, and with good reason. For 60 years, the “Oracle of Omaha” has had a rock-star presence in the investing world, and his annual Berkshire Hathaway shareholder meetings have drawn thousands of loyal investors. They were stunned at last year’s meeting when Buffett announced he would step down as CEO of the investment giant at year’s end. While he remains board chair and vows to come to the office every day, he still has a voice in day-to-day operations. His pre-announced successor and long-time lieutenant, Greg Abel, has assumed the CEO position and is likely directing or having a say in most, if not all, new investments, public or private.

One major difference between Berkshire Hathaway (NYSE:BRK-B | BRK-B Price Prediction) and many similar large funds is that, despite years of calls from Wall Street and shareholders, the fund does not pay a dividend. We found that Berkshire Hathaway does not pay dividends because its leadership believes that retaining earnings creates superior long-term value for shareholders. Buffett and Abel maintain that the company can compound capital more effectively by reinvesting profits in acquisitions, its operating businesses, and strategic share repurchases. In addition, investors shouldn’t expect it to start paying one anytime soon, despite a record cash balance.

One thing is for sure: Buffett and Abel love stocks that pay dividends. In fact, the 2025 Berkshire Hathaway annual report showed the company earned a stunning $5.086 billion in dividend income. A large portion comes from five top holdings that not only pay dependable, and in some cases, outsized dividends, but also have been raising them year in and year out.

Why Do We Cover Berkshire Hathaway Stocks?

Few investors have the results and reputation that Buffett has garnered over the past 60 years. Though he has stepped away from the CEO chair, his impact and investment guidelines are likely to remain in place long after he is gone. While investing has evolved since Buffett took control of Berkshire Hathaway in 1965, and now that Abel is in charge and vowing to stay the course, buying good companies with products and services recognized worldwide and paying dividends will remain a timeless approach and never go out of style. Here are the five portfolio stocks that have raised their dividends over the past year. All are rated Buy at top Wall Street firms.

American Express

American Express (NYSE:AXP) is a bank holding company and multinational financial services corporation specializing in payment cards. The globally integrated payments company operates card-issuing, merchant-acquiring, and card-network businesses, and pays a 0.98% dividend. The company raised its quarterly dividend from $0.82 to $0.95 between January and April 2026.

The company offers products and services to customers worldwide, including consumers, small businesses, mid-sized companies, and large corporations. Its segments include:

• U.S. Consumer Services, which offers travel and lifestyle services, as well as banking and non-card financing products.
• Commercial Services offers payment, expense management, banking, and non-card financing products.
• International Card Services provides services to international customers, including travel and lifestyle services, and manages certain international joint ventures and its loyalty coalition business.
• Global Merchant and Network Services operates a payments network that processes and settles card transactions, acquires merchants, and provides multichannel marketing programs, capabilities, services, and data analytics.

Berkshire Hathaway owns 151,610,700 shares, 22.2% of American Express’s float, and 14.8% of the portfolio.

J.P. Morgan has an Overweight rating with a $400 target price.

Bank of America

While Warren Buffett has trimmed his position over the past two years and sold a whopping 50 million shares in the fourth quarter of 2025, this quality financial giant remains an exceptional long-term holding with a solid 1.83% dividend yield. The dividend was raised from $0.26 to $0.28, then to $0.32 per quarter, with two increases over the past 12 months. Bank of America (NYSE:BAC) is a bank holding company that reported impressive Q2 results. Berkshire Hathaway owns 513,624,165 shares, which is 9.1% of the portfolio and 7.3% of the float.

Its segments include:

• Consumer Banking offers a range of credit, banking, and investment products and services to consumers and small businesses.
• Global Wealth & Investment Management (GWIM) comprises two businesses: Merrill Wealth Management, which offers tailored solutions to meet clients’ needs through a comprehensive suite of investment management, brokerage, banking, and retirement products. Bank of America Private Bank provides comprehensive wealth management solutions.
• Global Banking offers a range of lending-related products and services, including integrated working capital management and treasury solutions, as well as underwriting and advisory services.
• Global Markets offers sales and trading services, as well as research services, to institutional clients across fixed income, credit, currency, commodity, and equity markets.

The Jefferies target price for the shares is $75.

Chevron

This American multinational energy company primarily focuses on oil and gas. Chevron (NYSE:CVX) is a safer option for investors looking to position themselves in the energy sector. It pays a substantial 3.58% dividend, which was raised by 5% earlier this year, and has a 39-year streak of dividend increases. The company operates integrated energy and chemicals businesses worldwide. Berkshire Hathaway holds 84,375,856 shares, representing 4.2% of the float and 4.7% of the portfolio.

The company operates in two segments. The Upstream segment is involved in:

• Exploration, development, production, and transportation of crude oil and natural gas
• Processing, liquefaction, transportation, and regasification associated with liquefied natural gas
• Transportation of crude oil through pipelines, and transportation and storage
• Marketing of natural gas, as well as operating a gas-to-liquids plant

The Downstream segment engages in:

• Refining crude oil into petroleum products
• Marketing crude oil, refined products, and lubricants
• Manufacturing and marketing renewable fuels
• Transporting crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car
• Manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives

It also involves cash management, debt financing, insurance operations, real estate, and technology businesses.

Mizuho has a Buy rating with a $230 target price.

Coca-Cola

Coca-Cola (NYSE:KO) is an American multinational corporation founded in 1892. This company remains one of Buffett’s longest-held positions. Berkshire owns a massive 400 million shares, which is 9.3% of the float and 9.3% of the portfolio. The stock pays a dependable 2.51% dividend, which was raised to $0.53 per share in May 2026, marking the 64th straight year of dividend increases.

Coca-Cola is the world’s largest beverage company, offering consumers more than 500 sparkling and still brands. Led by Coca-Cola, one of the world’s most valuable and recognizable brands, the portfolio features 20 billion-dollar brands, including:

• Diet Coke
• Coca-Cola Light
• Coca-Cola Zero Sugar
• Caffeine-free Diet Coke
• Cherry Coke
• Fanta Orange
• Fanta Zero Orange
• Fanta Zero Sugar
• Fanta Apple
• Sprite
• Sprite Zero Sugar
• Simply Orange
• Simply Apple
• Simply Grapefruit
• Fresca
• Schweppes
• Dasani
• Fuze Tea
• Glacéau Smartwater
• Glacéau Vitaminwater
• Gold Peak
• Ice Dew
• Powerade
• Topo Chico
• Minute Maid

Globally, it is the top provider of sparkling beverages, ready-to-drink coffees, juices, and juice drinks. Through the world’s most extensive beverage distribution system, consumers in more than 200 countries enjoy the company’s beverages at a rate of over 1.9 billion servings per day. The company also owns 19.5% of Monster Beverage (NASDAQ:MNST), which continues to deliver strong financial results.

UBS has a Buy rating and a target price of $98.

Occidental Petroleum

After years of building this position, Buffett and Berkshire Hathaway are finally in the money on this company, which pays a 1.70% dividend. Occidental Petroleum (NYSE:OXY) is an international energy company with assets primarily in the United States, the Middle East, and North Africa. The company is an oil and gas producer in the United States, including the Permian and D.J. basins and offshore Gulf of America. Occidental’s most recent dividend increase was on February 19, 2026. The board raised the quarterly dividend by more than 5%, from $0.24 to $0.26 per share (bumping the annualized rate from $0.96 to $1.04).

Berkshire Hathaway has a large position in the company, owning 264,941,431 shares, representing 26.6% of the float and 4.3% of the portfolio.

Occidental’s oil and gas segment explores for, develops, and produces oil (including condensate), natural gas liquids (NGLs), and natural gas. The midstream and marketing segment purchases, markets, gathers, processes, transports, and stores oil (including condensate), NGLs, natural gas, carbon dioxide (CO2), and power. This segment provides flow assurance, maximizes the value of its oil and gas, and optimizes the company’s transportation and storage capacity. It also invests in entities that conduct similar activities, including low-carbon venture businesses.

A notable recent development was Occidental’s decision to sell its OxyChem subsidiary to Berkshire Hathaway, with the bulk of the proceeds expected to strengthen the company’s balance sheet and further concentrate its business on oil and gas. The move was notable because Buffett had reportedly long been interested in OxyChem, and Berkshire now owns the business outright. Berkshire Hathaway completed its purchase of OxyChem from Occidental on January 2, 2026, giving Berkshire full ownership of the chemicals business while providing Occidental with $9.7 billion in cash to reduce debt and sharpen its focus on energy.

Mizuho has an Overweight rating and a $75 price objective.

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