Wednesday, December 05, 2007

Fannie Mae Follows Freddie Mac and Cuts Dividend By 30%

Fannie Mae (FNM) announced it was reducing its quarterly dividend 30% to 35 cents per share versus the prior quarter dividend of 50 cents per share. Additionally, Fannie Mae will issue $7 billion of preferred stock to further absorb anticipated additional subprime mortgage losses.

(click on chart for larger image)

No comments :