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, payable to shareholders as of June 1, 2022. This move reflects AgriBank's ongoing commitment to providing value to its investors. The bank issued $250 million of preferred stock on October 29, 2013, to support long-term growth and credit requirements within its 15-state service area, enhancing its financial stability.

Positive

• Quarterly cash dividend of $1.7188 demonstrates ongoing shareholder value.
• Issuance of $250 million preferred stock to support long-term growth.

Negative

• None.

ST. PAUL, Minn., July 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 June 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/agribank-pays-quarterly-preferred-stock-dividend-301578932.html

SOURCE AgriBank

FAQ

What is the dividend amount paid by AgriBank on July 1, 2022?

AgriBank paid a dividend of $1.7188 per share on July 1, 2022.

When was the record date for AgriBank's preferred stock dividend?

The record date for AgriBank's preferred stock dividend was June 1, 2022.

How often does AgriBank issue dividends?

AgriBank typically pays dividends quarterly.

What is the purpose of the $250 million preferred stock issued by AgriBank?

The $250 million preferred stock was issued to ensure long-term access to high-quality capital.

How does AgriBank support the agricultural sector?

AgriBank provides funding and financial solutions to local Farm Credit Associations serving rural communities and agriculture.