1. Why has BH historically chosen not to pay any dividends? Do you agree with this decision? Explain. (Remember that the goal of the corporation should be to increase shareholder wealth.)

2. Why do you believe that BH is getting pressure from some shareholders to distribute cash?

3. Is Buffett’s reasoning for preferring share repurchases over cash dividends correct?

4. What factors should BH consider as they decide whether to begin a cash dividend?

5. What would you recommend at this point in time for BH?

6. What did BH ultimately decide to do?

Please read the case in the attachment carefully, use the case as a referenc