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Fannie Mae Q2 Profit Soars - Quick Facts

Fannie Mae (FNMA.OB) said it has earned $10.1 billion of net income for the second quarter of 2013, compared with the prior year's $5.1 billion, with comprehensive income attributable to the company climbing significantly to $10.3 billion, from $5.4 billion for the 2012 second quarter.

Net revenues for the period reached $6.15 billion, an increase from the prior-year figure of $5.82 billion.

Fannie Mae said it would pay taxpayers $10.2 billion in dividends in September 2013. After the September dividend payment, the company would have paid an aggregate of some $105 billion in dividends to Treasury.

Looking ahead, the company expects to remain profitable for the foreseeable future. While it expects stable revenues and its annual earnings to remain strong over the next few years, its earnings may vary significantly from quarter to quarter, owing to many different factors, such as changes in interest rates or home prices. In addition to dividend payments, the firm expects to make substantial federal income tax payments to Treasury going forward.

by RTTNews Staff Writer

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