Attached files
| file | filename |
|---|---|
| 8-K - Ally Financial Inc. | v163060_8k.htm |
GMAC
Financial Services Declares Dividends on Preferred Stock
DETROIT – The GMAC Financial Services board of
directors declared quarterly dividend payments on certain outstanding preferred
stock. The dividends were declared on Oct. 15, 2009 and are payable
on Nov. 16, 2009.
Dividend payments declared on the
preferred stock issued to the U.S. Department of the Treasury under the Troubled Asset Relief
Program totaled approximately $283 million. This consists of a cash dividend of
$20 per share, or a total of $100 million, on the Fixed Rate Cumulative
Perpetual Preferred Stock, Series D-1; a cash dividend of $22.50 per share, or a
total of $5.6 million, on the Fixed Rate Cumulative Perpetual Preferred Stock,
Series D-2; and a cash dividend of $1.125 per share, or a total of
$177.2 million, on the Fixed Rate Cumulative Mandatorily Convertible
Preferred Stock, Series F.
The dividend payment declared to holders
of GMAC’s Fixed Rate Cumulative Perpetual Preferred Stock, Series G, was $17.31
per share, or a total of approximately $44.6 million. This dividend
is payable on Nov. 16, 2009 to shareholders of record as
of Nov. 2, 2009. This preferred stock was
issued to investors in connection with GMAC’s private exchange and cash tender
offers, which were completed in December 2008.
About GMAC Financial
Services
GMAC is a bank holding company with 15
million customers worldwide. As a global, independent financial services
institution, GMAC’s diversified business operations include automotive finance,
mortgage operations, insurance, commercial finance and online banking. As of
June 30, 2009, the company had approximately $181 billion in assets. Visit the
GMAC media site at http://media.gmacfs.com for more
information.
# # #
Contacts:
Gina Proia
917-369-2364
gina.proia@gmacfs.com
Chris McNamee
917-369-2389
christopher.mcnamee@gmacfs.com