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DETROIT — The Ally Financial Board of Directors recently declared quarterly dividend payments for certain outstanding preferred stock, with the largest dividend to be paid out to the U.S. Department of Treasury.

Basically, a quarterly dividend payment was declared on Ally's Fixed Rate Cumulative Mandatorily Convertible Preferred Stock, Series F-2, of about $257 million, or $1.125 per share. This preferred stock was issued to the U.S. Department of Treasury on Dec. 30, 2009.

Moreover, a quarterly dividend payment was also declared on Ally's Fixed Rate Cumulative Perpetual Preferred Stock, Series G. The dividend comes in at $45 million, or $17.31 per share, and is payable to shareholders of record as of Aug. 2, 2010. This series of preferred stock was issued to investors in connection with the company's private exchange and cash tender offers, which were completed in December 2008.

The dividends for both series of preferred shares were declared on July 14, and are payable on Aug. 16, 2010.

Auto Remarketing reached out to Ally for comment on these dividend payments, particularly those to the Treasury Department; however, a company spokesperson indicated the company preferred remain silent.