logo
Share SHARE
FONT-SIZE Plus   Neg

Fannie Mae Turns Profit In 2016; To Pay $5.5 Bln Dividend To Treasury

Fannie Mae (FNMA) reported that its net income attributable to common stockholders for fiscal year 2016 was $77 million or $0.01 per share, compared to a loss of $262 million or $0.05 per share in the prior year.

Fannie Mae's 2016 net income of $12.3 billion increased from $11.0 billion in 2015 due primarily to a shift to credit-related income in 2016 from credit-related expense in 2015 driven by a higher benefit for credit losses and lower foreclosed property expense.

Net revenues were $22.3 billion, compared with $22.8 billion in 2015.

The company expects to pay Treasury $5.5 billion in dividends in March 2017. With the expected March 2017 dividend payment, Fannie Mae will have paid a total of $159.9 billion in dividends to Treasury.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumers in Nigeria are calling for a boycott of Coca-Cola products sold in the African nation after a high court judge ruled that the products could be "poisonous". Justice Adedayo Oyebanji of the Lagos High Court ruled that high levels of benzoic acid and sunset additives in Coca-Cola's soft drinks could pose a health risk to consumers when mixed with ascorbic acid, commonly known as Vitamin C. Charles Murphy, a partner at New York hedge fund Paulson & Co., fell to his death after jumping out of a hotel window in Manhattan on Monday. Murphy was found dead on the fourth-floor terrace of the Sofitel New York Hotel after he jumped from a window on the 24th floor. Internet media company BuzzFeed is preparing to go public in 2018, media site Axios reported Wednesday, citing industry sources. New York-based BuzzFeed was founded in 2006 by Jonah Peretti and John Johnson III as a viral lab, focusing exclusively on tracking viral content.
comments powered by Disqus
Follow RTT