Attached files
| file | filename |
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| 8-K - Ally Financial Inc. | v208172_8k.htm |
Ally
Financial Declares Dividends on Preferred Stock
DETROIT (Jan. 14, 2011) – The Ally
Financial Inc. (Ally) Board of Directors has declared quarterly dividend
payments for certain outstanding preferred stock.
A
quarterly dividend payment was declared on Ally’s Fixed Rate
Cumulative Mandatorily Convertible Preferred Stock, Series F-2 (Series F-2
Preferred Stock), of approximately $134 million, or $1.125 per share, and is
payable to the U.S. Department of the Treasury (U.S. Treasury). A
quarterly dividend payment was also declared on Ally’s Fixed Rate Cumulative
Perpetual Preferred Stock, Series G (Series G Preferred Stock) of approximately
$45 million, or $17.50 per share, and is payable to shareholders of
record as of Feb. 1, 2011. The Series G Preferred Stock was issued to
investors in connection with the company’s private exchange and cash tender
offers, which were completed in December 2008. Each of these
dividends were declared by the board of directors on Jan. 4, 2011, and are
payable on Feb. 15, 2011.
A
separate dividend payment of approximately $62 million, or $.5625 per share, was
declared and paid on shares of Series F-2 Preferred Stock held by the U.S.
Treasury that were converted into Ally common stock on Dec. 30, 2010. This
payment included accrued but unpaid dividends related to Series F-2 Preferred
Stock that was converted to common stock.
Including
the above dividend payments on the Series F-2 Preferred Stock, Ally will have
paid a total of approximately $1.9 billion in dividends to the U.S. Treasury
since February 2009.
About
Ally Financial Inc.
Ally
Financial Inc. (formerly GMAC Inc.) is one of the world's largest automotive
financial services companies. The company offers a full suite of
automotive financing products and services in key markets around the
world. Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank, offers online
retail banking products. With more than $173 billion in assets as of Sept.
30, 2010, Ally operates as a bank holding company. For more information,
visit the Ally media site at http://media.ally.com.
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Contacts:
Jim
Olecki
212-884-7955
james.olecki@ally.com
Chris
McNamee
212-884-7935
christopher.mcnamee@ally.com