Fannie Mae Announces Third Quarter Common and Preferred Stock Dividends
WASHINGTON, DC -- The Board of Directors of Fannie Mae (FNM/NYSE) yesterday declared a third quarter dividend on the company's common stock of five cents ($0.05) per share, down from thirty-five cents ($0.35) per share in the previous quarter. The common stock dividend has been reduced to preserve $1.9 billion in capital through 2009.
The dividend payment on the common stock will be made to registered holders of common stock as shown on the books of the corporation at the close of business on August 18, 2008, and will be paid on August 29, 2008.
The Board also declared dividend payments for the following series of preferred stock:
Outstanding Preferred Stock
Dividend Payment Per Share
Convertible Series 2004-1
Convertible Series 2008-1
Dividend payments for the preferred stock will be paid on September 30, 2008, to registered stock holders, as shown on the books of the corporation at the close of business on September 15, 2008, for the period from and including June 30, 2008 (or, May 14, 2008 in the case of Convertible Series 2008-1 Preferred Stock), to but excluding September 30, 2008.This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of Fannie Mae. Nothing in this press release constitutes advice on the merits of buying or selling a particular investment.
Fannie Mae is a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. In 2008, we mark our 70th year of service to America's housing market. Our job is to help those who house America.