Updated with additional comments from Jim Cramer.
When it comes to dividends, Warren Buffett won't dish them out -- but he will take them.
Buffett has for years maintained a strict no-dividends policy at Berkshire Hathaway (BRK.A) (BRK.B) . The conglomerate has paid only one dividend during his tenure, in 1967, and he has joked that he "must have been in the bathroom" when the decision was made.
"The question is about evaluating Berkshire when it doesn't pay any dividends," the billionaire said in a 1998 lecture at the University of Florida Business School. "And it won't pay dividends, either. That's a promise I can keep. All you get with Berkshire stock is that you can stick it in your safe deposit box, and every year you take it out and fondle it."
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While Buffett won't distribute dividends to Berkshire Hathaway shareholders, he has no qualms about collecting them from others. Most of the companies in his investment portfolio make regular dividend payments.
The irony isn't lost on him.
"A number of Berkshire shareholders -- including some of my good friends -- would like Berkshire to pay a cash dividend. It puzzles them that we relish the dividends we receive from most of the stocks that Berkshire owns, but pay out nothing ourselves," he wrote in his 2012 letter to investors.
If you're looking for dividends from the Oracle of Omaha, you won't find them at Berkshire Hathaway -- but you will uncover them in a number of his top stocks.
We pulled 10 dividend-paying stocks from Buffett's Berkshire Hathaway portfolio, according to the firm's most recent 13F filing, which reflects holdings as of Dec. 31, 2015. Each comprises at least 1% of his public equity portfolio and has a dividend yield of 3.0% or higher.