Recovery Funds Repaid with 23 Percent Interest for Taxpayers

Recovery Funds Repaid with 23 Percent Interest for Taxpayers

In June 2009, Goldman Sachs repaid the U.S. Treasury’s TARP investment of $10 billion, and in July 2009 Goldman Sachs redeemed the warrants the U.S. government received in connection with its investment for $1.1 billion. During the eight months of the investment, the firm paid $318 million in preferred dividends. We are pleased that the payment of the dividends and the redemption of the warrants, which totaled $1.418 billion, represent an annualized return of 23 percent for US taxpayers.

“This return is reflective of the government’s assistance, which benefitted the financial system, our firm and our shareholders,” said Lloyd C. Blankfein, Chairman and CEO. “We are grateful for the government efforts and are pleased that this additional money can be used by the government to revitalize the economy, a priority in which we all have a common stake.”

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