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Fannie Mae posts $3.2B profit in 2Q; to pay $3.1B dividend

Fannie Mae posts $3.2B profit in 2Q; to pay $3.1B dividend

WASHINGTON (AP) — Fannie Mae reported net income of $3.2 billion from April through June, up from a year earlier as the mortgage giant marked gains on its investments.

The government-controlled company released its second-quarter results Thursday. Washington-based Fannie Mae will pay a dividend of $3.1 billion to the U.S. Treasury next month if the company's federal regulator agrees. That payment would bring the total dividends paid by Fannie to $165.8 billion.

Fannie received $116 billion from taxpayers when the financial crisis struck in September 2008. The government rescued Fannie and smaller sibling Freddie Mac after they suffered huge losses from risky mortgages in the housing market bust. Together the companies received rescue loans totaling about $187 billion. The housing market's gradual recovery has made Fannie and Freddie profitable again.

Updated : 2021-04-19 23:28 GMT+08:00