April 17, 2009 / 3:22 PM / 9 years ago

US Treasury bank bailouts net $2.5 bln in dividends

WASHINGTON, April 17 (Reuters) - The U.S. Treasury said on Friday it has collected about $2.52 billion in quarterly dividend payments on capital investments it has made to shore up banks under the Capital Purchase Program through April 15.

U.S. Treasury Secretary Timothy Geithner said in a letter to lawmakers that the Treasury would begin publishing the dividend data on a monthly basis “so the American people can see and evaluate the dividend income they are receiving from these investments.”

The Capital Purchase Program was launched in October to help stabilize the banking sector through government purchases of preferred shares that pay dividends at an annual rate of 5 percent, rising to 9 percent after five years.

Reporting by David Lawder, Editing by Chizu Nomiyama

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