Great Western Financial restated its earnings.
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The Beverly Hills-based financial-services firm said it has added $5.6 million to fourth-quarter and year-end net income due to a preferred stock distribution and dividend from the Federal Home Loan Mortgage Corp. The dividend was omitted from earlier results because of an uncertain accounting status that has since been clarified, the company said. The added profits boosted Great Western fourth-quarter earnings 22% to $31.6 million and 1984 earnings 6% to $99.5 million.
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