Ally Financial Declares Dividends on Preferred Stock

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Apr 21, 2011, 10:04 ET

DETROIT, April 21, 2011 /PRNewswire/ -- The Ally Financial Inc. (Ally) Board of Directors has declared quarterly dividend payments for certain outstanding preferred stock.

A quarterly dividend payment was declared on Ally's Fixed Rate Cumulative Mandatorily Convertible Preferred Stock, Series F-2 (Series F-2 Preferred Stock), of approximately $134 million, or $1.125 per share, and is payable to the U.S. Department of the Treasury (U.S. Treasury). A quarterly dividend payment was also declared on Ally's Fixed Rate Cumulative Perpetual Preferred Stock, Series G (Series G Preferred Stock) of approximately $46 million, or $17.69 per share, and is payable to shareholders of record as of May 2, 2011. Additionally, a dividend payment was declared on Ally's Fixed Rate/Floating Rate Perpetual Preferred Stock, Series A (Series A Preferred Stock) of approximately $12 million, or $0.295 per share, and is payable to shareholders of record as of May 1, 2011. Each of these dividends were declared by the board of directors on April 18, 2011, and are payable on May 16, 2011.

Including the aforementioned dividend payments on the Series F-2 Preferred Stock, Ally will have paid a total of approximately $2.3 billion in dividends to the U.S. Treasury since February 2009.

About Ally Financial Inc.

Ally Financial Inc. (formerly GMAC Inc.) is one of the world's largest automotive financial services companies. The company offers a full suite of automotive financing products and services in key markets around the world. Ally's other business units include mortgage operations and commercial finance, and the company's subsidiary, Ally Bank, offers retail banking products. With more than $172 billion in assets as of Dec. 31, 2010, Ally operates as a bank holding company. For more information, visit the Ally media site at http://media.ally.com.

Contacts:
Jim Olecki
212-884-7955
[email protected]

Chris McNamee
212-884-7935
[email protected]

SOURCE Ally Financial