Warren Buffett Collects Quarterly Dividends From These 3 Stocks. Should You?
Berkshire Hathaway sat completely still on three dividend-paying positions last quarter, collecting checks without making a single trade. Here is what that unusual stillness signals for income investors building their own quarterly cash flow.
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Warren Buffett doesn’t chase yield, but his disclosed equity book at Berkshire Hathaway still throws off a steady stream of quarterly checks. Three of those names — Chevron (NYSE:CVX | CVX Price Prediction), Coca-Cola (NYSE:KO) and Occidental Petroleum (NYSE:OXY) — pay dividends on a quarterly cadence that anyone with a brokerage account can plug into. That is the practical hook for readers at or near retirement: the same routine income, from the same routine payers, sitting inside one of the most watched portfolios on Wall Street.
The positions discussed here come from Berkshire’s 13F for the period ended June 30 filed on Aug. 14 (SEC filing). A 13F covers U.S.-listed long equity only, so this is Berkshire’s disclosed common-stock book, not its cash, wholly owned businesses, private stakes, or fixed-income holdings. Positions are disclosed roughly 45 days after quarter end and may have changed since. Nothing here should be read as what Berkshire owns today.
What stands out across all three names is stillness. Share counts were unchanged from the prior quarter in every case. No trims, no adds, no exits. For income-focused readers, that is arguably the more interesting signal: these are the payers Berkshire left alone while collecting the checks.
Coca-Cola: The 400 Million Share Anchor
Berkshire disclosed 400 million shares of Coca-Cola, representing 10.86% of the disclosed portfolio, with the share count unchanged from the prior filing. Coca-Cola is the beverage concentrate and syrup business famous for its namesake brand and a global bottling network.
The dividend is the whole story for holders. Coca-Cola pays a quarterly dividend of $0.53 per share, with the next payment dated Oct. 1 following a Sept. 15 ex-dividend date. The annualized forward amount is $2.12, and the payment stepped up from $0.51 in 2025 to $0.53 in 2026, extending a long streak of annual increases. Current yield sits at 2.32%.
Fundamentals under the payout look sturdy. Q2 FY2026 delivered adjusted EPS of $0.97, revenue of $13.38B (up 6.7% year over year), and net income of $4.43 billion (up 16.1%), and management raised full-year guidance to organic revenue growth of about 5% and comparable EPS growth of 9% to 10%. Trailing P/E of 26 and forward P/E of 25 reflect defensive-consumer premium, not a bargain. Analyst consensus target is $94.70, with the rating breakdown showing seven Strong Buy ratings, 12 Buy ratings, four Hold ratings, zero Sell ratings and one Strong Sell rating. Shares are up 27.69% YTD.
Chevron: The Integrated Oil Dividend
Berkshire disclosed 84,375,856 shares of Chevron, representing 4.67% of the disclosed portfolio, with the share count unchanged. Chevron is an integrated energy company covering exploration, production, refining, marketing, and chemicals.
The dividend picture is straightforward. Chevron paid $1.78 per share on September 10, 2026, matching the prior two quarterly payments and stepping up from $1.71 through 2025. The annualized forward amount is $7.12, and the yield runs at 3.05%. The dividend history file shows steady quarterly cadence stretching back over two decades.
Q2 FY2026 was a stronger quarter than the ratios suggest. Chevron reported adjusted EPS of $6.06, revenue of $67.20B (up 51.4% year over year), and free cash flow of $18.10B (up 272%), with worldwide net oil-equivalent production hitting 4,070 MBOED, up 20% year over year on the Hess Corporation acquisition. The company also cut total debt by $8.41B in the quarter and signed a 20-year 2.67 GW power purchase agreement with Microsoft for a West Texas AI data center. Trailing P/E is 21 with a forward P/E of 16. The consensus target is $221.21, with six Strong Buy ratings, 14 Buy ratings, four Hold ratings, one Sell rating and zero Strong Sell ratings. Shares are up 37.45% YTD.
Occidental Petroleum: The Smaller E&P Slice
Berkshire disclosed 264,941,431 shares of Occidental, representing 4.30% of the disclosed portfolio, with the share count unchanged. Berkshire also holds Occidental preferred stock and warrants that do not appear in the 13F common-stock row, so the common position understates the full relationship. Occidental is a hydrocarbon exploration and production company with petrochemical operations across the Americas.
The common-stock dividend was 28 cents per share with a Sept. 10 ex-dividend date and an Oct. 15 payment date, up from 26 cents earlier in 2026 and 24 cents across 2025. Annualized forward runs to $1.12, with a yield of 1.65%. The company describes the increase as 8% higher this year.
Q2 FY2026 came in hot, with adjusted EPS of $2.40, beating consensus of $1.85, revenue of $8.33 billion (up 31.8% YoY), and free cash flow of $3.02 billion (up 214% YoY). Occidental retired $1.90 billion of debt in the quarter, bringing principal debt to $11.8 billion against a $10 billion target. Trailing P/E is 18 with a forward P/E of 16. The consensus target is $67.08, and analyst posture is more cautious: Two Strong Buy ratings, seven Buy ratings, 15 Hold ratings, zero Sell ratings and zero Strong Sell ratings. Shares are up 44.05% YTD.
What the Steady Hand Says About Berkshire’s Approach
Three dividend payers, three unchanged share counts. Coca-Cola sits at 10.86% of the disclosed portfolio, dwarfing Chevron at 4.67% and Occidental at 4.30%, with the beverage stake serving as the long-duration anchor and the two energy names as a paired bet on production, cash returns, and deleveraging. The disclosed book here leans consumer defensive at the top and layered energy below, and the through-line across all three is a payout backed by real free cash flow generation.
Doing nothing was the decision of the quarter. For income-focused readers, that inaction is instructive. For a dividend book, the compounding math works when share counts stay put and the payments keep landing. Coca-Cola raised its dividend in 2026, Chevron raised its dividend in 2026, and Occidental raised its dividend in 2026. Three payers, three raises, zero trades.
What Readers Can Actually Take From This
The takeaway is that the same quarterly checks are available on the same schedule to any investor willing to buy the same tickers, rather than mirroring Berkshire’s weightings. The next visible catalysts are Coca-Cola’s Oct. 1 payment, Occidental’s Oct. 15 payment and Berkshire’s next 13F filing, which will show whether these steady positions stayed steady through the September quarter. 13F disclosures are backward looking, price targets and forecasts are projections rather than guarantees, and none of this is investment advice.
Contact [email protected] for any questions or corrections.
Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.
He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.
