The giant lender, with a mortgage book of $2.2 trillion, has seen its stock market capitalization drop below $1 billion this morning. Fannie Mae is still above the $1 billion threshhold, but not by much.
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Latest on Business
Apple CEO Cook Gives Up $75M in Stock Dividends
NEW YORK — Apple CEO Tim Cook is giving up $75 million in dividends on restricted stock that the company is awarding to all of its employees.
In a filing with the Securities and Exchange Commission on Thursday, Apple Inc. said that Cook requested that his restricted stock units not receive dividends. The dividends that Apple workers are getting amount to $2.65 per quarter for each restricted stock unit held. The shares are not normally eligible to receive dividends, so Apple’s decision is a perk for its employees.
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Study: Typical CEO Pay Up 6% to $9.6 Million
NEW YORK — Profits at big U.S. companies broke records last year, and so did pay for CEOs.
The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm.
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Tan Boon Tee
