Freddie Mac Requests $100M in Taxpayer Support after Q3 LossSubmitted by bobbyw24 on Thu, 11/04/2010 - 08:25
Freddie Mac said Wednesday that it lost $2.5 billion during the third quarter of this year. Add to that the $1.6 billion dividend payment the GSE had to make to Treasury on stock the company relinquished in exchange for bailout money, and Freddie Mac reported a net loss attributable to common stockholders of $4.1 billion, or $1.25 per common share, for the quarter.
The third-quarter results actually represent an improvement from the previous three-month period, when the GSE reported a net loss attributable to common stockholders of $6.0 billion, or $1.85 per common share.
Freddie Mac had a net worth deficit of $58 million at September 30, 2010, that company officials attributed to the quarterly dividend payment to Treasury of $1.6 billion, which exceeded the GSE’s total comprehensive income of $1.4 billion.