Fannie Mae Posts $1.3B Profit in 4Q; Paying $1.9B Dividend - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Fannie Mae Posts $1.3B Profit in 4Q; Paying $1.9B Dividend

Posted:

Fannie Mae posts $1.3B profit in 4Q; paying $1.9B dividend

Eds: APNewsNow. With AP Photos.

WASHINGTON (AP) - Mortgage giant Fannie Mae is reporting net income of $1.3 billion for the fourth quarter. That's down sharply from $6.5 billion a year earlier due largely to losses on investments used to hedge against swings in interest rates.

Still, it was the 12th straight profitable quarter for the government-controlled company.

Washington-based Fannie also said Friday it will pay a dividend of $1.9 billion to the U.S. Treasury next month. Fannie will have paid $136.4 billion in dividends, exceeding the $116 billion it received from taxpayers during the financial crisis.

The government rescued Fannie and smaller sibling Freddie Mac in September 2008.

For Fannie and Freddie, the decline in long-term interest rates last year brought losses on derivatives, financial transactions the companies use to hedge against rate swings.

  • Business NewsMore>>

  • Delaware House Approves Corporate Tax Increases

    Delaware House Approves Corporate Tax Increases

    Friday, May 19 2017 8:10 AM EDT2017-05-19 12:10:34 GMT
    Friday, May 19 2017 8:10 AM EDT2017-05-19 12:10:34 GMT

    House lawmakers in Delaware have approved a bill increasing taxes on large corporations as part of an effort to find additional revenue to help balance a budget for the fiscal year starting July 1. 

    More

    House lawmakers in Delaware have approved a bill increasing taxes on large corporations as part of an effort to find additional revenue to help balance a budget for the fiscal year starting July 1. 

    More
  • Delaware Governor to Eliminate Economic Development Office

    Delaware Governor to Eliminate Economic Development Office

    Wednesday, May 17 2017 1:15 PM EDT2017-05-17 17:15:43 GMT
    Wednesday, May 17 2017 1:19 PM EDT2017-05-17 17:19:35 GMT

    The Delaware Economic Development Office is set to be eliminated.

    More

    The Delaware Economic Development Office is set to be eliminated.

    More
  • Claims for US Unemployment Aid Fall by 2,000 to 236,000

    Claims for US Unemployment Aid Fall by 2,000 to 236,000

    Thursday, May 11 2017 10:21 AM EDT2017-05-11 14:21:32 GMT
    Thursday, May 11 2017 10:21 AM EDT2017-05-11 14:21:32 GMT

    Fewer Americans sought jobless benefits last week, and the number of people collecting unemployment checks felt to the lowest level since 1988 - more evidence the U.S. job market remains strong.
        

    More

    Fewer Americans sought jobless benefits last week, and the number of people collecting unemployment checks felt to the lowest level since 1988 - more evidence the U.S. job market remains strong.
        

    More
Powered by Frankly

All content © Copyright 2000 - 2017 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices