Freddie Mac reports $821 million loss as it cuts dividend By Steve Goldstein Last update: 6:17 a.m. EDT Aug. 6, 2008 LONDON (MarketWatch) -- Freddie Mac (FRE:Freddie Mac News, chart, profile, more Last: 8.04+0.52+6.91% 4:01pm 08/05/2008 Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: FRE 8.04, +0.52, +6.9%) said it swung to a second-quarter loss of $821 million, or $1.63 a share, after taking $2.5 billion in provisions for credit losses. Revenue fell to $1.69 billion from $2.34 billion. Analysts polled by FactSet Research had expected a loss of 38 cents a share. The mortgage giant is going to cut its third-quarter dividend to 5 cents a share or less from 25 cents a share and pay the full preferred dividend. In addition, the company continues to review and consider other alternatives for managing its capital including issuing equity in amounts that could be substantial, reducing or rebalancing risk, slowing purchases into its credit guarantee portfolio, and limiting the growth or reducing the size of its retained portfolio. Estimated regulatory core capital was $37.1 billion at June 30, which represented an estimated $8.4 billion in excess of the company's statutory minimum capital requirement, Freddie Mac said.