WASHINGTON May 9 Fannie Mae, the
biggest mortgage-finance company operating under government
control, on Thursday said it would pay the U.S. Treasury
Department $59.4 billion in dividends during the second quarter
after recognizing tax benefits it had written down.
The company reported a pre-tax income of $8.1 billion for
the first quarter and said it was booking an additional gain of
$50.6 billion by reversing the write down of certain deferred
tax assets. That resulted in a net income of $58.7 billion, a
record for the company, and compared to a $2.7 billion profit in
the same three month period a year earlier.