AgriBank Pays Quarterly Preferred Stock Dividend

Rhea-AI Summary

AgriBank has declared a quarterly cash dividend of $1.7188 per share on its 6.875% non-cumulative perpetual class A preferred stock for shareholders of record as of March 1, 2021. This payment reflects the bank's commitment to providing returns to its investors while ensuring long-term capital access to support agricultural financing in its 15-state district. The preferred stock was issued in October 2013 to enhance the bank’s capital structure and support growth for its member associations.

Positive

• Quarterly cash dividend of $1.7188 per share to preferred stockholders demonstrates AgriBank's commitment to shareholder returns.
• Issuance of $250 million in preferred stock in October 2013 positions the bank for long-term growth and credit needs.

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• None.

ST. PAUL, Minn., April 1, 2021 /PRNewswire/ -- Today, St. Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of March 1, 2021.

AgriBank issued $250 million of preferred stock on Oct. 29, 2013 to provide the Bank and the 15-state Farm Credit District it serves with long-term access to high-quality capital, helping ensure the District is well-positioned to meet the long-term growth and credit needs of farmer and rancher customers.

About AgriBank
AgriBank is part of the customer-owned, nationwide Farm Credit System. Under Farm Credit's cooperative structure, AgriBank is primarily owned by 14 local Farm Credit Associations, which provide financial products and services to rural communities and agriculture. AgriBank obtains funds and provides funding and financial solutions to those Associations. The AgriBank District covers a 15-state area stretching from Wyoming to Ohio and Minnesota to Arkansas. For more information, please visit www.AgriBank.com.

Forward-Looking Statements
Any forward-looking statements in this press release are based on current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from expectations due to a number of risks and uncertainties. More information about these risks and uncertainties is contained in AgriBank's annual report. The Bank undertakes no duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE AgriBank

FAQ

What is the dividend amount declared by AgriBank in April 2021?

AgriBank declared a dividend of $1.7188 per share on its preferred stock.

What is the payment date for AgriBank's dividend?

The dividend is payable to shareholders of record as of March 1, 2021.

What is the significance of AgriBank's preferred stock issuance in 2013?

The $250 million preferred stock issuance in October 2013 was aimed at providing long-term access to high-quality capital.