The Berkshire Hathaway-owned Class I railroad recorded a $500 million distribution to its parent during second quarter 2016, half what it contributed the previous year, according to regulatory filings.
BNSF Railway Co. recorded a $500 million distribution to parent company Berkshire Hathaway Inc. during second quarter 2016, according to regulatory filings.
That total was half of what the Class I railroad contributed to Berkshire the previous year,and the lowest quarterly dividend since 2010.
A major contributor in terms of profit since being purchased by billionair Warren Buffet’s investment fund in 2010, BNSF has sent more than $20 billion in dividends to its parent since then. But the rail industry has been suffering for the past 18 months from plummeting volumes in coal, crude oil and other energy related commodities.
BNSF last week reported its profits in second quarter 2016 fell 19.8 percent to $772 million compared with the same 2015 period as revenues slid 14.6 percent to $4.59 billion.
BNSF Q2 dividend lowest since 2010
