Ally Financial Pays $134 Million of Dividends to the U.S. Treasury

Ally Financial will pay the U.S. Treasury—its primary owner—roughly $134 million of dividends in mid-November.

The payment was disclosed in a new filing with the Securities and Exchange Commission and covers Ally's Fixed Rate Cumulative Mandatorily Convertible Preferred Stock, Series F-2.

The bank holding company, which is trying to unload its bankrupt mortgage division, Residential Capital Corp., also declared a dividend of $45 million on its Fixed Rate Cumulative Perpetual Preferred Stock, Series G.

Ally recently filed amended IPO documents with the SEC. One day the auto/home lender hopes to go public, but before it can the bank must sell ResCap. Ally has no traditional retail branches.

At last check ResCap serviced $365 billion of home mortgages, ranking fifth nationwide, according to the Quarterly Data Report. ResCap filed for Chapter 11 bankruptcy protection earlier this year.