Federal Agricultural Mortgage Corporation Plans Quarterly Dividend of $1.60 (NYSE:AGM)

Federal Agricultural Mortgage Corporation (NYSE:AGM) announced a quarterly dividend on Wednesday, August 12th. Shareholders of record on Tuesday, September 15th will be paid a dividend of 1.60 per share by the credit services provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Federal Agricultural Mortgage has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Federal Agricultural Mortgage has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Federal Agricultural Mortgage to earn $23.17 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 27.6%.

Federal Agricultural Mortgage Stock Performance

Shares of AGM opened at $238.34 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.82. The firm’s fifty day simple moving average is $203.30 and its two-hundred day simple moving average is $178.83. Federal Agricultural Mortgage has a 12 month low of $136.57 and a 12 month high of $248.29. The stock has a market capitalization of $2.59 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 0.87 and a beta of 0.98.

Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.40 earnings per share for the quarter, topping the consensus estimate of $4.87 by $0.53. The firm had revenue of $125.01 million during the quarter, compared to analyst estimates of $113.51 million. Federal Agricultural Mortgage had a return on equity of 18.90% and a net margin of 29.98%. As a group, analysts predict that Federal Agricultural Mortgage will post 20.72 EPS for the current year.

Federal Agricultural Mortgage Company Profile

Federal Agricultural Mortgage Corporation (NYSE: AGM), commonly known as Farmer Mac, is a government-sponsored enterprise chartered in 1988 under the Agricultural Credit Act of 1987. Headquartered in Washington, DC, Farmer Mac was established to enhance the availability of mortgage credit for the agricultural and rural utility sectors. The corporation operates as a secondary market for agricultural real estate and rural infrastructure loans, providing lenders with liquidity and risk management solutions.

The company’s principal business activities include purchasing and securitizing long-term fixed-rate agricultural mortgage loans and rural utilities loans originated by approved lenders.