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 of record as of June 1, 2021. This dividend reflects the bank's commitment to providing returns to its shareholders. AgriBank aims to ensure long-term capital access for the Farm Credit District it serves. The bank had previously issued $250 million of preferred stock on October 29, 2013, to support the financial needs of farmers and ranchers across a 15-state area.

Positive

• Quarterly cash dividend of $1.7188 per share enhances shareholder income.
• Issuance of $250 million in preferred stock indicates robust capital access and financial stability.

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• None.

ST. PAUL, Minn., July 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 June 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 paid by AgriBank?

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

When was the dividend paid to shareholders?

The dividend was paid to shareholders of record as of June 1, 2021.

What is the significance of the preferred stock issuance by AgriBank?

The $250 million preferred stock issuance helps ensure long-term access to capital for the Farm Credit District.

What is AgriBank's dividend policy?

AgriBank consistently aims to provide dividends to its shareholders, reflecting its commitment to income generation.