FHLB Boston Trims Dividend Amidst Lower Earnings

Published August 07, 2007, 7:45 p.m. EDT

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Updated August 27, 2020, 1:43 a.m. EDT

1 Min Read

BOSTON – The Federal Home Loan Bank of Boston announced yesterday its second quarter earnings declined 14% to $40.1 million, as net interest income declined by $4 million from the second quarter last year. Market value adjustments on its hedging portfolio amounted to another $3.8 million. As a result, the Boston Bank said it will trim its dividend for the current third quarter to 6.5%, from 6.75% for the second quarter. The third quarter dividend, based on average stock outstanding for the second quarter, will be paid on Sept. 5.

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