Federal Agricultural Mortgage Corporation Plans Quarterly Dividend of $0.36 (AGM)
Federal Agricultural Mortgage Corporation (NYSE:AGM) declared a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Investors of record on Friday, December 15th will be paid a dividend of 0.36 per share by the credit services provider on Friday, December 29th. This represents a $1.44 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, December 14th.
Federal Agricultural Mortgage Corporation has increased its dividend payment by an average of 29.4% annually over the last three years and has raised its dividend annually for the last 5 consecutive years.
Federal Agricultural Mortgage Corporation (NYSE:AGM) last announced its earnings results on Wednesday, August 9th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.12. Federal Agricultural Mortgage Corporation had a net margin of 24.02% and a return on equity of 15.01%. The business had revenue of $43.48 million during the quarter.
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Several equities research analysts have issued reports on AGM shares. BidaskClub lowered shares of Federal Agricultural Mortgage Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. TheStreet lowered shares of Federal Agricultural Mortgage Corporation from a “b-” rating to a “c+” rating in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of Federal Agricultural Mortgage Corporation in a report on Thursday, September 21st.
In other news, insider Timothy L. Buzby sold 10,560 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $74.15, for a total value of $783,024.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Engebretsen sold 400 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $65.64, for a total transaction of $26,256.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,856 shares of company stock valued at $2,244,371. Company insiders own 3.75% of the company’s stock.
Federal Agricultural Mortgage Corporation Company Profile
Federal Agricultural Mortgage Corporation (Farmer Mac) provides a secondary market for a range of loans made to borrowers in rural America. The Company’s segments include Farm & Ranch, USDA Guarantees, Rural Utilities, Institutional Credit and Corporate. Its secondary market activities are purchasing eligible loans directly from lenders; providing advances against eligible loans by purchasing obligations secured by those loans; securitizing assets and guaranteeing the payment of principal and interest on the resulting securities that represent interests in, or obligations secured by, pools of eligible loans; and issuing long-term standby purchase commitments (LTSPCs) for eligible loans.
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