AgriBank Pays Quarterly Preferred Stock Dividend

Rhea-AI Summary

AgriBank, based in St. Paul, declared a quarterly cash dividend of $1.7188 per share on its 6.875% non-cumulative perpetual class A preferred stock. This payment was made to shareholders on record as of March 1, 2022. The dividend reflects AgriBank's commitment to providing returns to its investors and ensures long-term access to capital for farmer and rancher customers across its 15-state Farm Credit District.

AgriBank issued $250 million of preferred stock on October 29, 2013 to support its operational goals.

Positive

• Quarterly cash dividend of $1.7188 per share enhances income for shareholders.
• Demonstrates AgriBank's commitment to returning value to investors.

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• None.

ST. PAUL, Minn., April 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 March 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 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 amount of the AgriBank preferred stock dividend paid in April 2022?

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

When was the record date for the AgriBank dividend payment?

The record date for the dividend payment was March 1, 2022.

When did AgriBank issue preferred stock, and how much was it?

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

How often does AgriBank pay dividends on its preferred stock?

AgriBank pays quarterly dividends on its preferred stock.

What type of stock does AgriBank's dividend pertain to?

The dividend pertains to AgriBank's 6.875% non-cumulative perpetual class A preferred stock.