Fannie Mae Posts $2.9B Profit In 2Q; Paying $2.9B Dividend

WASHINGTON (AP) — Fannie Mae reported net income of $2.9 billion from April through June, down from a year earlier as low interest rates brought losses for the mortgage giant on its investments.

The second-quarter results released Thursday marked the 18th straight profitable quarter for the government-controlled company.

Washington-based Fannie Mae also will pay a dividend of $2.9 billion to the U.S. Treasury next month. With that payment, Fannie will have paid a total $151.4 billion in dividends.

Fannie received $116 billion from taxpayers when the financial crisis struck in September 2008. The government rescued Fannie and smaller sibling Freddie Mac after they suffered huge losses from risky mortgages in housing market bust.