Farmer Mac Declares Quarterly Dividends on Common and Preferred Stock

Rhea-AI Summary

Federal Agricultural Mortgage Corporation (Farmer Mac) (NYSE: AGM.A) declares a fourth quarter dividend of $1.10 per share for its three classes of common stock and dividends on five classes of preferred stock. The quarterly dividend will be payable on December 29, 2023, and the preferred stock dividends will be payable on January 17, 2024.

Positive

• The declaration of dividends indicates financial stability and potential for income for shareholders.
• The dividend amounts are substantial, offering attractive returns for shareholders.

Negative

• None.

WASHINGTON, Nov. 8, 2023 /PRNewswire/ -- The board of directors of the Federal Agricultural Mortgage Corporation (Farmer Mac) has declared a fourth quarter dividend of $1.10 per share for each of Farmer Mac's three classes of common stock – Class A Voting Common Stock (NYSE: AGM.A), Class B Voting Common Stock (not listed on any exchange), and Class C Non-Voting Common Stock (NYSE: AGM). The quarterly dividend will be payable on December 29, 2023 to holders of record of common stock as of December 15, 2023.

Farmer Mac's board of directors has also declared a dividend on each of Farmer Mac's five classes of preferred stock. The quarterly dividend of $0.375 per share of 6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C (NYSE: AGM.PR.C), $0.35625 per share of 5.700% Non-Cumulative Preferred Stock, Series D (NYSE: AGM.PR.D), $0.359375 per share of 5.750% Non-Cumulative Preferred Stock, Series E (NYSE: AGM.PR.E), $0.328125 per share of 5.250% Non-Cumulative Preferred Stock, Series F (NYSE: AGM.PR.F), and $0.3046875 per share of 4.875% Non-Cumulative Preferred Stock, Series G (NYSE: AGM.PR.G), is for the period from but not including October 17, 2023 to and including January 17, 2024. These preferred stock dividends will be payable on January 17, 2024 to holders of record of those classes of preferred stock as of January 2, 2024.

About Farmer Mac
Farmer Mac is a vital part of the agricultural credit markets and was created to increase access to and reduce the cost of capital for the benefit of American agricultural and rural communities. As the nation's secondary market for agricultural credit, we provide financial solutions to a broad spectrum of the agricultural community, including agricultural lenders, agribusinesses, and other institutions that can benefit from access to flexible, low-cost financing and risk management tools. Farmer Mac's customers benefit from its low cost of funds, low overhead costs, and high operational efficiency. Additional information about Farmer Mac is available on Farmer Mac's website at www.farmermac.com.

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SOURCE Farmer Mac

FAQ

What is the dividend amount declared by Federal Agricultural Mortgage Corporation (Farmer Mac) for its common stock?

The company declared a fourth quarter dividend of $1.10 per share for each of its three classes of common stock.

When will the quarterly dividend be payable for Farmer Mac's common stock?

The quarterly dividend will be payable on December 29, 2023.

What is the dividend amount declared by Farmer Mac for its preferred stock?

The company declared dividends ranging from $0.3046875 to $0.375 per share for its five classes of preferred stock.

When will the preferred stock dividends be payable for Farmer Mac?

The preferred stock dividends will be payable on January 17, 2024.