July 31, 2018 / 1:23 PM / 2 months ago

Freddie Mac's 2nd-qtr income rises vs year ago

July 31 (Reuters) - Freddie Mac said on Tuesday its comprehensive income rose to $2.435 billion in the second quarter from $1.986 billion a year earlier as gains on derivatives offset a decline in its net interest income.

The U.S. mortgage finance agency said it will pay $1.6 billion dividend to the U.S. Treasury after making no payment in the prior quarter as it sought to build a $3 billion capital cushion due to the sweeping overhaul of the U.S. tax code enacted last December. (Reporting by Richard Leong; Editing by David Gregorio)

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