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Fannie Mae Q1 Profit Drops; To Pay $2.4 Bln Dividend To Treasury By June 30

Fannie Mae (FNMA.OB) reported that its net income attributable to common stockholders for the first-quarter dropped to $39 million or $0.01 per share from $3.32 billion or $0.56 per share last year. Net income was $2.40 billion, down from $4.26 billion in the prior year.

Net interest income also declined to $4.73 billion from $5.23 billion in the previous year. Non-interest loss was $471 million, compared to non-interest income of $1.62 billion last year.

Fannie Mae expects to pay a $2.4 billion dividend to Treasury by June 30, 2019.

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