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Ally Financial to redeem series A preferred stock, declares dividend

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Ally Financial to redeem series A preferred stock, declares dividend

Ally Financial Inc.is calling the remaining 27,870,560 shares of its series A fixed rate/floating rateperpetual preferred stock for redemption, according to an April 14 news release.

The shares will be redeemed at a price of $25.00 per share onMay 16.

The company's board April 11 declared a final quarterly dividendpayment of approximately $14.8 million, or 53 cents per share, on the series A preferredstock. The dividend is payable May 16 to shareholders of record as of May 1.

Holders of the series A preferred stock to be redeemed as ofthe record date will be entitled to receive the dividend immediately prior to redemptionof such shares.