Freddie Mac To Issue U.S. Treasury $2B, Maybe
Freddie Mac has reported a net income of $1.66 billion at the end of June 30, according to National Mortgage News. The company also revealed that it planned to issue $2 billion to the U.S. Treasury. The only trouble is when the delivery of the $2 billion will be made.
"In its press release announcing the earnings, the company significantly changed the language used to describe the dividend payment, which Freddie and Fannie Mae make under terms of bailout agreements with the federal government," according to the report.
"The new release said the payment will be made 'If the conservator declares a senior preferred stock dividend,' and also described how accrued and unpaid dividends are treated."
The report would later reveal that the topic is in the air and no decisions have been made as yet.
Learn more about Freddie Mac's complicated language in their release and how likely the $2 billion is to hit the U.S. Treasury by clicking on the image above.
