Goldman Sachs Buys Back TARP Preferred Stock
By admin - Posted on June 18th, 2009
Tagged: Banking
• banks
• Business
• Finance
• Goldman Sachs
• TARP
• Treasury Dept.
• Wall Street bailout
New York, NY June 17, 2009 -- The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it has repurchased from the United States Department of the Treasury the 10,000,000 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series H, that were issued to the Treasury pursuant to the U.S. Treasury’s TARP Capital Purchase Program.
The aggregate purchase price paid by Goldman Sachs to the U.S. Treasury for the Preferred Stock (including accrued dividends) was approximately $10.04 billion.
The repurchase includes a one-time preferred dividend of approximately $425 million which will be reflected in our second quarter results.
This is expected to reduce reported diluted EPS for the quarter by approximately $0.77 per share.
Source: The Goldman Sachs Group, Inc.
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