AgriBank Pays Quarterly Preferred Stock Dividend

Rhea-AI Summary

AgriBank, based in St. Paul, paid a $1.7188 quarterly cash dividend on its 6.875% non-cumulative perpetual class A preferred stock. This dividend was issued to shareholders of record as of September 1, 2022. The bank issued $250 million in preferred stock in October 2013 to ensure long-term access to quality capital, supporting the credit needs of farmers and ranchers across a 15-state area. This dividend payment underscores AgriBank's commitment to its shareholders and financial stability.

Positive

• Quarterly cash dividend of $1.7188 enhances shareholder income.
• Demonstrates AgriBank's strong financial position and shareholder commitment.

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• None.

ST. PAUL, Minn., Oct. 1, 2022 /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 Sept. 1, 2022.

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 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 https://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 paid by AgriBank?

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

When was the dividend payment made by AgriBank?

The dividend payment was made on October 1, 2022.

Who received the AgriBank dividend payment?

The dividend was paid to shareholders of record as of September 1, 2022.

What percentage is AgriBank's preferred stock dividend?

AgriBank's preferred stock has a dividend rate of 6.875%.

When did AgriBank issue its preferred stock?

AgriBank issued $250 million in preferred stock on October 29, 2013.