Search
All times are London time
Most Popular Posts
- Further Reading
- Further Reading
- The credit crunch, crunched: Authers and Murphy on a screen near you
- Further Reading
- Pink Picks
- Icahn: Well, maybe I can't -- at least, not on my own....
- Snap News
- Pink Picks
- Pink Picks
- Snap News
- Show more...
- Show less...
Blogs we're reading
- 1440 Wall Street
- Abnormal Returns
- Alea
- All About Alpha
- Arbitrage View
- Bespoke Investment Group
- Big Picture
- Brad Setser: Follow the money
- Calculated Risk
- Capital Chronicle
- Capitalist Resistance
- Crossing Wall Street
- Deal Journal
- Dealbook
- Dealbreaker
- Deus Ex Macchiato
- Felix Salmon
- Financial Armageddon
- Financial Crookery
- Fintag
- Free Exchange
- Infectious Greed
- Information Arbritrage
- Intelligent Mergers
- Interactive Investor
- Jeff Matthews
- Marketbeat
- Naked Capitalism
- Naked Shorts
- Nouriel Roubini
- Practical Risk Management
- Random Roger
- Reuters DealZone
- Robert Peston
- Short Stories
- Sudden Debt
- The Aleph blog
- The Epicurean Dealmaker
- The Oil Drum
- The price of everything
- Ultimi Barbarorum
- Wallstrip
Classified Jobs
- Divisional Financial Controller
- Recruiter: TRL
- Corporate Finance Controller / Corporate Finance Analyst
- Recruiter: Travelodge
- Acquisitions Analyst / Corporate Finance Analyst
- Recruiter: Travelodge
- Process & Control Development Manager
- Recruiter: Norwich Union
- Head of Project Finance
- Recruiter: Global Investment Bank
- Associate Director, Project Finance
- Recruiter: Global Investment Bank
- Collateral Frameworks and Registries Senior Advisor
- Recruiter: FIAS, The World Bank Group
- Group Finance Manager
- Recruiter: Marks & Spencer
Site Navigation
Principal content
Freddie to raise $6bn in fresh capital
Freddie Mac, the US government-sponsored mortgage company, is to slash its dividend by half and raise $6bn through the sale of preferred stock to shore up its capital base. Freddie is the second large financial institution in as many days to call on new capital to strengthen its balance sheet, after Citigroup on Monday raised $7.5bn from the Abu Dhabi Investment Authority. Freddie Mac’s board declared a Q4 dividend of 25 cents, compared with 50 cents in the third quarter. The company said it needed the $6bn of new capital and the dividend cut – its first since it became a public company in 1989 – to hold on to enough cash to maintain its financial flexibility and satisfy regulators. Last week, Freddie warned it would need new capital as it revealed a $2bn Q3 loss, its largest yet.
- Advertise with the FT
- Press enquiries
- Student offers
- FT Conferences
- FT Research Centre
- Corporate subscriptions
- FT Group
- Partner sites: Chinese FT.com
- Les Echos
- FT Deutschland
- Expansion
- © Copyright The Financial Times Ltd 2007. "FT" and "Financial Times" are trademarks of The Financial Times Ltd. Privacy policy
- Terms
Comments
This post is closed to comments.