AgriBank Pays Quarterly Preferred Stock Dividend

Rhea-AI Summary

AgriBank announced a quarterly cash dividend of $1.7188 per share on its 6.875% non-cumulative perpetual class A preferred stock, payable to shareholders on record as of Dec. 1, 2021. The dividend reflects AgriBank's commitment to providing stable returns to investors. The bank also issued $250 million of preferred stock in 2013 to enhance its long-term capital access, supporting agricultural credit needs in a 15-state region from Wyoming to Ohio. AgriBank's cooperative structure ensures it remains aligned with its rural community and agricultural objectives.

Positive

• Quarterly cash dividend of $1.7188 demonstrates commitment to shareholder returns.
• Issuance of $250 million in preferred stock provides long-term capital access.

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• None.

ST. PAUL, Minn., Jan. 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 Dec. 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 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 paid by AgriBank in January 2022?

AgriBank paid a quarterly cash dividend of $1.7188 per share in January 2022.

When was the record date for AgriBank's latest dividend?

The record date for AgriBank's latest dividend was December 1, 2021.

How often does AgriBank pay dividends on its preferred stock?

AgriBank pays dividends quarterly on its preferred stock.

What is the purpose of the preferred stock issued by AgriBank?

The issuance of preferred stock helps AgriBank maintain long-term access to high-quality capital.