September 10, 2008Fannie Mae Permitted to Pay Third Quarter Preferred Stock Dividends
Washington, DC -- Fannie Mae (FNM/NYSE) today announced that the company has received the consent of the conservator, the Federal Housing Finance Agency (FHFA), and the United States Department of the Treasury to pay the previously declared but unpaid dividends on all of its outstanding preferred stock series, on September 30, 2008, as scheduled. The dividends were declared prior to FNM being placed in conservatorship, and are therefore an outstanding obligation to be honored. The record date, as previously announced, is September 15, 2008. Treasury's consent is limited solely to the payment of this previously declared but unpaid preferred stock dividend. As announced on Sunday, September 7, future common and preferred stock dividends will be eliminated.
For specific information on these dividends, please refer to the company's August 8, 2008 announcement at www.fanniemae.com/newsreleases/2008/4445.jhtml.