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.
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