[umanwizard]

Stocks with no dividends have some probability of paying a dividend (or doing a buyback) in the future. If you could prove that a company will never pay a dividend or do a buyback then its value would be zero.

[tony101]

What about Berkshire Hathaway? They said they wouldn't pay dividends.

[umanwizard]

You don’t know they never will forever. Buffet will die someday and his successor might decide to pay a dividend.

[AznHisoka]

this is turning to a very insane argument.. So if Buffet signs a iron clad legal contract that says no dividends ever for the duration of his company, it means the stock is worth 0?

[umanwizard]

If such a thing were possible, then yes, it would.