real-time news and commentary for investors
Thursday, Aug 8
Fannie Mae sends another $10.2B back to Treasury
- Net income of $10.1B is reduced by $10.2B payment to Treasury, leading to negative $0.03 per share figure in earnings report. After latest payment, Fannie (FNMA.OB) will have sent $105B back to taxpayers against $117.1B received.
- Freddie Mac (FMCC.OB) - which yesterday reported a $5B profit - has sent back $41B after drawing $72B.
- Fannie expects to be profitable "for the foreseeable future" and expects substantial income tax payments to accompany dividend payments to Treasury going forward.
- Full Fannie Mae earnings release.