Go Finance Reporting in NEW YORK - Goldman Sachs will redeem (buy back) shares of billionaire Warren Buffett was worth $ 5, 5 billion. Stocks was originally invested Buffett through Berkshire Hathaway at the peak of the financial crisis of 2008.
Quoted by AFP on Sunday (03/20/2011), Wall Street said the central bank the United States (U.S.) had also given the green light for this year's capital plan.
"The Federal Reserve has concluded that it posed no objection to Goldman Sachs for the capital in 2011, which includes the redemption of 50-thousand shares of preferred stock company owned by Berkshire Hathaway,"said Goldman Sachs in a statement.
Buffett, known as the "Oracle of Omaha" for intelligent investment, invested $ 5 billion in Goldman at the peak of the financial crisis, in which the time signal to Wall Street's confidence is rising.
Known, Goldman pays interest of 10 percent in preferred stocks, so it pays to buy back $ 5, 5 billion and also will pay a one-time dividend of $ 1, 64 billion. Parties Goldman also will make it up on April 18.
For your information, this capital plan, including where there is increased potential common stock dividend on the company. (GoFinance)
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