Freddie Mac Slips To Loss In Q1 - Quick Facts
(RTTNews) - Mortgage provider Freddie Mac (FMCC.OB) on Wednesday reported that its net loss attributable to shareholders for the first quarter of 2019 was $258 million or $0.08 per share, compared to net income of $2.93 billion or $0.90 per share in the year-ago period.
Comprehensive income for the quarter was $1.67 billion, compared to $2.15 billion in the year-ago period.
Net revenues for the quarter increased to $3.40 billion from $3.34 billion in the prior-year period.
Net interest income for the quarter rose to $3.15 billion from $3.02 billion in the same period last year. Non-interest loss for the quarter was $235 million, compared to non-interest income of $1.83 billion in the year-ago period.
Freddie Mac said it expects to pay a $1.7 billion dividend to Treasury in June 2019 based on the company's net worth amount of $4.7 billion at March 31, 2019 less the applicable capital reserve amount of $3.0 billion. The company said its cumulative payments to date total $118.0 billion.
Return on conservatorship capital or ROCC improved to 12.7 percent on higher earnings and lower conservatorship capital compared to the preceding quarter.
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