Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, November 28, 2007

Freddie Mac Seeks to Shore Up Reserves by Stock Sales, Dividend Cut

Seeking to recover from its $2 billion third quarter loss, Freddie Mac announced it would sell $6 billion in preferred stock and cut its dividend in half, in order to boost its reserves.  Freddie said it was selling preferred stock so as not to dilute the common.  WPost, Freddie to Cut Dividend, Sell Stock to Aid Reserves.

http://lawprofessors.typepad.com/securities/2007/11/freddie-mac-see.html

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