1 Top Dividend Stock That Gives Warren Buffett's Berkshire Hathaway More Than $700 Million in Passive Income Annually
Coca-Cola (NYSE: KO) is undoubtedly one of the most powerful, well-recognized consumer brands in the world. And this is precisely why Berkshire Hathaway, the conglomerate headed by Warren Buffett, has owned shares in the company since 1988.
The Oracle of Omaha certainly likes Coca-Cola's durability as a business. And that helps explain why the beverage stock currently makes up under 7% of Berkshire's equities portfolio. It's the fourth-largest holding behind Apple, Bank of America, and American Express.
Perhaps the most important reason Buffett still loves Coca-Cola is because of the huge amounts of passive income that it spits out. Let's take a closer look.
Source Fool.com