Members of the Federal Home Loan Bank of New York will receive a 7.5% cash dividend, which represents a 97.7% payout ratio from the bank's second-quarter earnings."The dividend reflects the Bank's low-risk profile and conservative investment strategy," president Alfred DelliBovi says in a letter to shareholders. The New York FHLBank posted second-quarter earnings of $70.6 million, down 6.4% from that of the same period a year ago. And the dollar amount of the dividend is "approximately $69 million," the letter says. The $85.9 billion-asset FHLBank has $4 billion capital and $311 million in retained earnings.
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