Third Quarter 2018 Dividend and Election Results
Third Quarter 2018 Dividend
The FHLB Des Moines (the Bank) Board of Directors (the Board) has approved a third quarter 2018 dividend for both the average activity-based capital stock and average membership capital stock outstanding during the quarter. The annualized dividend rate approved was 5.75 percent for activity based capital stock and 3.25 percent for membership capital stock. Dividend payments totaling $73 million are expected to be paid on or about November 9, 2018.
The effective combined annualized dividend rate for the Bank on both subclasses of capital stock outstanding was 5.26 percent; however, the effective combined dividend rate on the total capital stock held by each shareholder will depend on their level of activity with the Bank during the third quarter.
Earlier today the Bank filed its Third Quarter 2018 Form 10-Q with the Securities and Exchange Commission (SEC). An overview of the Bank's financial results for the third quarter was provided in a Form 8-K earnings release filed with the SEC on October 29, 2018. These filings are available at www.fhlbdm.com or www.sec.gov.
2018 Member and Independent Director Election Results
On November 7, 2018, the Board of Directors of FHLB Des Moines reviewed the results of the 2018 Member and Independent Director Elections. We are pleased to announce the election results for director terms commencing January 1, 2019.