As announced by Federal Housing Finance Agency Director, James Lockhart, on September 7, 2008, all future common and preferred stock dividends would be eliminated, other than dividends on the senior preferred stock issued to the U.S. Department of the Treasury.
In accordance with the Senior Preferred Stock Purchase Agreement, until the senior preferred stock is repaid or redeemed in full, Freddie Mac may not, without the prior written consent of Treasury, redeem, purchase, retire or otherwise acquire any Freddie Mac equity securities (other than the senior preferred stock or warrant).
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