Ally Bank 2011 Annual Report Download - page 236

Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10−K
33. Subsequent Events
Declaration of Quarterly Dividend Payments
On January 4, 2012, the Ally Board of Directors declared quarterly dividend payments on certain outstanding preferred stock. This included a cash
dividend of $1.125 per share, or a total of $134 million, on Fixed Rate Cumulative Mandatorily Convertible Preferred Stock, Series F−2 and a cash dividend
of $17.50 per share, or a total of $45 million, on Fixed Rate Cumulative Perpetual Preferred Stock, Series G. The dividends were paid on February 15, 2012.
Mortgage Foreclosure Matters
On February 9, 2012, we reached an agreement in principle with the federal government and 49 state attorneys general with respect to
foreclosure−related matters. We also agreed in principle with the Federal Reserve Board on a monetary penalty related to the same foreclosure−related
matters. Refer to Note 31 for additional information.
February 2012 Notes Offering
On February 14, 2012, we completed a securities offering of $1.0 billion in aggregate principal amount of Ally senior guaranteed notes due February
2017. The notes bear interest at a rate of 5.5% per annum and are guaranteed by certain Ally subsidiaries.
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