Warren Buffett is a big believer in dividend-paying stocks. Even though the company he leads, Berkshire Hathaway (BRK.A -0.06%) (BRK.B -0.07%), doesn't pay dividends, many of the businesses in which it invests feature extensive dividend income.

Berkshire Hathaway recently announced its latest individual stock holdings through its 13-F filing with the U.S. Securities and Exchange Commission (SEC). The filing revealed changes to Berkshire's portfolio during the first quarter of 2023, and during that period, Berkshire added shares of several notable dividend payers. By doing so, Berkshire boosted its potential annual dividend income by more than $80 million. Here's the breakdown.

HP: $17.3 million extra

Computer printer and hardware company HP (HPQ 0.18%) has quietly become a major position in Berkshire's portfolio. With almost 121 million shares of HP, Berkshire owns about 12% of the tech business, with a value of about $3.5 billion based on recent prices. Berkshire just bought an additional 16.48 million shares during the first quarter of 2023.

HP pays its shareholders $0.2625 per share in dividends each quarter, which works out to a yield of more than 3%. The position in the printer specialist pays out about $127 million in dividends, and the shares that Berkshire just bought will add $17.3 million in annual dividend income for Berkshire.

Apple: $19.6 million extra

Berkshire's largest individual stock holding by far is Apple (AAPL 0.37%). The conglomerate holds a roughly 5.8% stake in the iPhone maker, and the market value of the 915 million Apple shares it owned as of March 31 was more than $150 billion. Buffett made an incremental purchase of 20.42 million shares of Apple stock during the period.

Apple's dividend yield of just over 0.5% isn't all that impressive, but it still puts plenty of cash into Berkshire's coffers. At $0.24 per share each quarter, Apple's dividends amount to nearly $879 million in annual income. The added shares purchased just in the first three months of 2023 should add more than $19.6 million in cash over the next year -- and that's assuming that the tech company doesn't boost its payout even further in the interim.

Bank of America: $20 million extra

Yet beating out Apple in the dividend department is Bank of America (BAC -0.93%). Berkshire added 22.75 million shares of BofA stock during 2023's Q1. With a quarterly dividend of $0.22 per share, that should contribute just over $20 million in additional dividend income annually. Berkshire's total position of 1.033 billion shares generated about $909 billion in dividends.

Buffett has actually sold off many of Berkshire's bank stock holdings recently. But Bank of America remains a favorite, and even though the total market value of Berkshire's BofA position is under $30 billion, the 3.1% dividend yield is much higher than Apple's, allowing the bank stock to cement its position as a leading contributor of dividend income for the Buffett-led insurance giant. Berkshire also controls about 13% of BofA's outstanding shares, which shows the confidence that the Oracle of Omaha has in the Charlotte-based banking giant.

Capital One Financial: $23.8 million extra

Continuing the bank theme, Berkshire added shares of Capital One Financial (COF -1.65%) for the first time during 2023's Q1. Purchases of 9.922 million shares represent just a 2.6% stake in Capital One, but they represent nearly $1 billion in value.

Moreover, with a $0.60 per-share quarterly dividend, Capital One boasts a 2.4% dividend yield. With such a massive investment, Berkshire boosted its annual dividend income by more than $23.8 million. Given an inexpensive valuation, Buffett likely believes Capital One can rise in value at the same time that it keeps paying out dividend income.

Don't forget the dividends

Even if you don't need dividend income from your portfolio to pay for your living expenses, it can still be valuable to invest in dividend stocks. With the cash they pay out, you can make additional investments and increase your income even further. That's been a winning strategy for Warren Buffett , and it's one you should closely consider as well in your own investing.