InvestorsHub Logo
Followers 18
Posts 768
Boards Moderated 0
Alias Born 10/10/2018

Re: Donotunderstand post# 766247

Friday, 09/01/2023 2:34:05 PM

Friday, September 01, 2023 2:34:05 PM

Post# of 796398
Donotunderstand going for the dunk on Louie. Donotunderstand understands what a dividend is, but others.....

dividend

another poster - I am copying the entire post - READ IT

Once again, just to spike it.

Paragraph 3, page 4
https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/FNM/SPSPA-amends/FNM-Third-Amendment-to-the-Amended-and-Restated-SPSPA_08-17-2012.pdf

3. Amendment to Paragraph 2(c) of Senior Preferred Stock (Relating to Dividend Rate and Dividend Amount).

With respect to the Senior Preferred Stock Certificate sold by Seller to Purchaser and purchased by Purchaser from Seller, Seller
agrees either to amend the existing paragraph 2(c) of the Senior Preferred Stock Certificate, or to issue a replacement Senior Preferred
Stock Certificate, in either case so that, effective September 30, 2012, paragraph 2(c) reads as follows:

(c) For each Dividend Period from the date of the initial issuance of the Senior Preferred Stock through and including
December 31, 2012, “Dividend Rate” means 10.0%; provided, however, that if at any time the Company shall have for any reason
failed to pay dividends in cash in a timely manner as required by this Certificate, then immediately following such failure and for all
Dividend Periods thereafter until the Dividend Period following the date on which the Company shall have paid in cash full
cumulative dividends (including any unpaid dividends added to the Liquidation Preference pursuant to Section 8) the “Dividend
Rate” shall mean 12.0%.
For each Dividend Period from January 1, 2013, through and including December 31, 2017, the “Dividend Amount” for a
Dividend Period means the amount, if any, by which the Net Worth Amount at the end of the immediately preceding fiscal quarter,
less the Applicable Capital Reserve Amount, exceeds zero. For each Dividend Period from January 1, 2018, the “Dividend Amount”
for a Dividend Period means the amount, if any, by which the Net Worth Amount at the end of the immediately preceding fiscal
quarter exceeds zero. In each case, “Net Worth Amount” means (i) the total assets of the Company (such assets excluding the
Commitment and any unfunded amounts thereof) as reflected on the balance sheet of the Company as of the applicable date set forth
in this Certificate, prepared in accordance with GAAP, less (ii) the total liabilities of the Company (such liabilities excluding any
obligation in respect of any capital stock of the Company, including this Certificate), as reflected on the balance sheet of the
Company as of the applicable date set forth in this Certificate, prepared in accordance with GAAP. “Applicable Capital Reserve
Amount” means, as of any date of determination, for each Dividend Period from January 1, 2013, through and including
December 31, 2013, $3,000,000,000; and for each Dividend Period occurring within each 12-month period thereafter,
$3,000,000,000 reduced by an equal amount for each such 12-month period through and including December 31, 2017, so that for
each Dividend Period from January 1, 2018, the Applicable Capital Reserve Amount shall be zero. For the avoidance of doubt, if the
calculation of the Dividend Amount for a Dividend Period does not exceed zero, then no Dividend Amount shall accrue or be
payable for such Dividend Period