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8-K - Ally Financial Inc. | v199314_8k.htm |
Ally Financial Declares Dividends on
Preferred Stock
DETROIT (Oct.
19, 2010)
– The Ally Financial Inc. (Ally) Board of Directors has declared quarterly
dividend payments for certain outstanding preferred stock. The
dividends were declared on Oct. 1, 2010, and are payable on Nov. 15,
2010.
A
quarterly dividend payment was declared on Ally’s Fixed Rate
Cumulative Mandatorily Convertible Preferred Stock, Series F-2, of approximately
$257 million, or $1.125 per share. This preferred stock was issued to
the U.S. Department of the Treasury on Dec. 30, 2009.
A
quarterly dividend payment was also declared on Ally’s Fixed Rate Cumulative
Perpetual Preferred Stock, Series G. The dividend totals
approximately $45 million, or $17.31 per share, and is payable to
shareholders of record as of Nov. 1, 2010. This series of preferred stock
was issued to investors in connection with the company’s private exchange and
cash tender offers, which were completed in December 2008.
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 $176 billion in assets as of June
30, 2010, Ally operates as a bank holding company. For more information,
visit the Ally media site at http://media.ally.com.
# # #
Contacts:
Jim Olecki
212-884-7955
james.olecki@ally.com
Chris McNamee
212-884-7935
christopher.mcnamee@ally.com