Google will only use its $8.6 billion cash cushion for "very very conservative investments," Schmidt said, and is unlikely to start a dividend in the current environment.
"We've not really discussed a dividend payment," he said in an interview on the sidelines of the Wall Street Journal ECO:nomics conference in Santa Barbara, California. "At the moment our view is to let the cash pile up."
Earlier on Wednesday, Schmidt said the economic storm will affect all forms of advertising, including the online ads that Google depends on, but that Google was unlikely to see a drop in revenue.
Google says it's going to pile up cash
Posted on Friday, March 06 2009 @ 2:16 CET by Thomas De Maesschalck