Federal Agricultural Mortgage Corporation (AGM) to Issue Quarterly Dividend of $0.36 on December 29th
Federal Agricultural Mortgage Corporation (NYSE:AGM) declared a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Stockholders 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 dividend yield of 2.01%. The ex-dividend date is Thursday, December 14th.
Federal Agricultural Mortgage has raised its dividend by an average of 29.4% annually over the last three years and has increased its dividend annually for the last 5 consecutive years.
Federal Agricultural Mortgage (NYSE:AGM) opened at $71.77 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.80. Federal Agricultural Mortgage has a fifty-two week low of $53.78 and a fifty-two week high of $77.78. The stock has a market cap of $795.14, a P/E ratio of 12.91 and a beta of 1.27.
Several research analysts have recently issued reports on AGM shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $65.00 target price on shares of Federal Agricultural Mortgage in a report on Friday, November 10th. TheStreet cut shares of Federal Agricultural Mortgage from a “b-” rating to a “c+” rating in a report on Friday, August 11th.
In related news, Director James R. Engebretsen sold 4,000 shares of Federal Agricultural Mortgage stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $68.88, for a total value of $275,520.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dennis L. Brack sold 1,500 shares of Federal Agricultural Mortgage stock in a transaction on Monday, November 20th. The shares were sold at an average price of $72.13, for a total transaction of $108,195.00. The disclosure for this sale can be found here. Insiders sold 34,736 shares of company stock worth $2,537,337 in the last 90 days. Company insiders own 3.75% of the company’s stock.
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About Federal Agricultural Mortgage
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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