WASHINGTON (dpa-AFX) - Fannie Mae (FNMA) released its second-quarter results on Thursday, reporting net income of $3.43 billion, down from $4.46 billion in the same period last year.
Net income attributable to common stockholders for the quarter was $67 million or $0.01 per share, compared to net loss of $2 million or breakeven per share a year ago.
Net interest income declined to $5.15 billion from $5.38 billion last year. Non-interest loss was $47 million, compared to non-interest income of $745 million in the previous year.
Net revenues, which consist of net interest income and fee and other income, were $5.40 billion, down from $5.62 billion in the previous year.
Fannie Mae reported a net worth of $6.4 billion as of June 30, 2019. As a result, the company expects to pay a $3.4 billion dividend to Treasury by September 30, 2019. Through the second quarter of 2019, the company has paid $181.4 billion in dividends to the Treasury.
Looking ahead, Fannie Mae said it expects to remain profitable on an annual basis for the foreseeable future.
However, the company expects quarterly volatility in its financial results due to several factors, particularly changes in market conditions that result in fluctuations in the estimated fair value of derivatives and other financial instruments that it marks to market through its earnings.
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