December 5, 2007
Fannie Mae Plans to Raise $7 Billion
Reflecting further difficulties from the credit crisis, Fannie Mae announced it would raise $7 billion in an offering of non-convertible preferred stock. It also will cut its quarterly dividend from 50 cents to 35 cents per share. Last week, Freddie Mac raised $6 billion. WPost, Fannie Mae to Issue $7 Billion In Stock to Help Steady Itself.
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