The Stingy Ten: Companies with Huge Cash Hoards, Refusing to Pay a Dividend

Every now and then, as in the case of Microsoft (MSFT), a cash-laden company that has resisted paying a dividend decides to share the wealth. The software giant, which generates more cash than it needs to finance its business, instituted a quarterly payout of 8 cents a share in 2004, also declared a one-time dividend of $3 a share that year, and has since hiked the quarterly payout to its current 20 cents.

Even with the payout, Microsoft has piled up a huge cash position in recent years, and thus could easily finance a large acquisition or, should the mood strike its board, lay another special dividend on shareholders or simply increase its payout.

Microsoft Corporation Dividend Chart by YCharts

And that – a dividend-paying company increasingly its payout – is likely a better bet than waiting for the cash-rich, non-dividend-payers to join the party. Like Microsoft did for many years, some of these companies – Google (GOOG), Apple (AAPL), Amazon (AMZN) -- regard themselves as growth plays still, and therefore don’t want to be pandering to holders.

Others – Berkshire Hathaway (BRK.A), (BRK.B), certainly -- think they can invest the money more wisely than you can, and Warren Buffett, at least, may be right on that score. (He has allowed that Berkshire might to get into buybacks at some point.)

And in some cases, the companies – General Motors (GM), United Continental (UAL) -- know from experience that they will need huge cash stockpiles to ride out recessions and other nasty periods.

So, don’t hold your breath. But here are ten non-financial companies with more than $5 billion cash on hand that don’t pay a dividend.

Google Cash and ST Investments Chart by YCharts

Amazon.com Cash and ST Investments Chart by YCharts

Jeff Bailey is an editor for the YCharts Pro Investor Service which includes professional stock charts, stock ratings and portfolio strategies.