Fannie Mae 2012 Annual Report Download - page 69

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PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities
Our common stock is traded in the over-the-counter market and quoted on the OTC Bulletin Board under the ticker symbol
“FNMA.” The transfer agent and registrar for our common stock is Computershare, P.O. Box 43078, Providence, Rhode
Island 02940.
Common Stock Data
The following table displays, for the periods indicated, the high and low prices per share of our common stock as reported in
the Bloomberg Financial Markets service. These prices represent high and low trade prices. No dividends were declared on
shares of our common stock during the periods indicated.
Quarter High Low
2011
First Quarter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.96 $ 0.30
Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.50 0.32
Third Quarter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.39 0.23
Fourth Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.27 0.19
2012
First Quarter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.41 $ 0.20
Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.32 0.25
Third Quarter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.34 0.20
Fourth Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.31 0.25
Dividends
Our payment of dividends is subject to the following restrictions:
Restrictions Relating to Conservatorship. Our conservator announced on September 7, 2008 that we would not pay any
dividends on the common stock or on any series of preferred stock, other than the senior preferred stock.
Restrictions Under Senior Preferred Stock Purchase Agreement. The senior preferred stock purchase agreement prohibits us
from declaring or paying any dividends on Fannie Mae equity securities without the prior written consent of Treasury. In
addition, in 2012 the terms of the senior preferred stock purchase agreement were amended to ultimately require the payment
of our entire net worth to Treasury. As a result, our net income will not be available to common stockholders.
Additional Restrictions Relating to Preferred Stock. Payment of dividends on our common stock is also subject to the prior
payment of dividends on our preferred stock and our senior preferred stock. Payment of dividends on all outstanding
preferred stock, other than the senior preferred stock, is also subject to the prior payment of dividends on the senior preferred
stock. See “MD&A—Liquidity and Capital Management” for information on dividends declared and paid to Treasury on the
senior preferred stock.
Statutory Restrictions. Under the GSE Act, FHFA has authority to prohibit capital distributions, including payment of
dividends, if we fail to meet our capital requirements. If FHFA classifies us as significantly undercapitalized, approval of the
Director of FHFA is required for any dividend payment. Under the GSE Act, we are not permitted to make a capital
distribution if, after making the distribution, we would be undercapitalized, except the Director of FHFA may permit us to
repurchase shares if the repurchase is made in connection with the issuance of additional shares or obligations in at least an
equivalent amount and will reduce our financial obligations or otherwise improve our financial condition.
Restrictions Relating to Subordinated Debt. During any period in which we defer payment of interest on qualifying
subordinated debt, we may not declare or pay dividends on, or redeem, purchase or acquire, our common stock or preferred
stock.
Holders
As of February 28, 2013, we had approximately 14,000 registered holders of record of our common stock, including holders
of our restricted stock. In addition, as of February 28, 2013, Treasury held a warrant giving it the right to purchase shares of
our common stock equal to 79.9% of the total number of shares of our common stock outstanding on a fully diluted basis on
the date of exercise.