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Federal National Mortgage Association Message Board

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  • lowriskincome lowriskincome Sep 10, 2008 12:09 PM Flag

    IMHO, Div. already declared will not be paid

    I reread the TREASURY SENIOR PREFERRED STOCK PURCHASE AGREEMENT and it reads The following covenants apply to the GSEs as part of the agreements. Without the prior consent of the Treasury, the GSEs shall not: Make any payment to purchase or redeem its capital stock, or pay any dividends, including preferred dividends (other than dividends on the senior preferred stock)

    I read the above to mean we will not get the declared dividend.