NEW YORK (AP) – Freddie Mac said Thursday that it will pay the U.S. Treasury a dividend of $4.5 billion next month after its profit more than doubled in the last quarter.
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Freddie Mac said on Tuesday that it will pay $2.2 billion in June after reporting a first-quarter profit. With next month’s payments, the two companies will have returned about $271 billion to taxpayers. Fannie’s net interest income, which includes income from guaranteeing mortgages, was $5.3 billion, compared to $5.8 billion in the fourth quarter.
WASHINGTON –The U.S. Department of the Treasury today announced a set of modifications to the Preferred Stock Purchase Agreements (PSPAs) between the Treasury Department and the Federal Housing Finance Agency (FHFA) as conservator of Fannie Mae and Freddie Mac (the Government Sponsored Enterprises or GSEs) that will help expedite the wind down of Fannie Mae and Freddie Mac, make sure that.
A pretty strong quarter. According to the recent earnings reports from Fannie and Freddie, the agencies had a profitable second quarter. Fannie Mae produced net income of $4.64 billion, up 26% from the same quarter a year ago, and Freddie Mac earned $4.17 billion, a sharp increase from last year’s $1.36 billion.
Fannie Mae’s sibling Freddie Mac, which was also rescued by the government during the recession, said Thursday that it would pay the Treasury a $4.5 billion dividend next month after its profit.
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· Summary. Assuming a P/E of 12 based on 2016 net income of $20 Billion, Fannie Mae and Freddie Mac are worth $240 Billion combined while the U.S. Treasury’s 79.9% share of this is $192 Billion. It would come down a bit after interest paid on preferred stock, etc. is.
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· Freddie Mac said on Tuesday that it will pay $2.2 billion in June after reporting a first-quarter profit. With next month’s payments, the two companies will have returned about $271 billion to.
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WASHINGTON — Bailed-out housing finance giant Fannie Mae said Thursday it would pay the U.S. government $59.4 billion after posting a record profit for the first three months of the year.