WASHINGTON | Thu May 9, 2013 7:42am EDT
WASHINGTON (Reuters) – Fannie Mae (FNMA.OB), the biggest mortgage-finance company operating under government control, on Thursday said it would pay the U.S. Treasury Department $ 59.4 billion in dividends during the second quarter after recognizing tax benefits it had written down.
The company reported a pre-tax income of $ 8.1 billion for the first quarter and said it was booking an additional gain of $ 50.6 billion by reversing the write down of certain deferred tax assets. That resulted in a net income of $ 58.7 billion, a record for the company, and compared to a $ 2.7 billion profit in the same three month period a year earlier.
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