Farmer Mac Declares Quarterly Dividends on Common and Preferred Stock

Rhea-AI Summary

Farmer Mac (NYSE: AGM) has declared its third quarter dividends for common and preferred stock. For common stock, a dividend of $1.40 per share will be paid on September 30, 2024, to holders of record as of September 16, 2024. This applies to all three classes of common stock: Class A Voting, Class B Voting, and Class C Non-Voting.

For preferred stock, dividends were declared for four classes: Series D (5.700%), Series E (5.750%), Series F (5.250%), and Series G (4.875%). These dividends will be payable on October 17, 2024, to holders of record as of October 1, 2024. Farmer Mac aims to increase accessibility of financing for American agriculture and rural infrastructure as a secondary market provider.

Positive

• Consistent dividend payments for both common and preferred stockholders
• Diversified stock offerings catering to different investor preferences
• Commitment to supporting rural America and agricultural financing

Negative

• None.

WASHINGTON, Aug. 7, 2024 /PRNewswire/ -- The board of directors of the Federal Agricultural Mortgage Corporation (Farmer Mac) has declared a third quarter dividend of $1.40 per share for each of Farmer Mac's three classes of common stock – Class A Voting Common Stock (NYSE: AGM.A), Class B Voting Common Stock (not listed on any exchange), and Class C Non-Voting Common Stock (NYSE: AGM). The quarterly dividend will be payable on September 30, 2024 to holders of record of common stock as of September 16, 2024.

Farmer Mac's board of directors has also declared a dividend on each of Farmer Mac's four classes of preferred stock. The quarterly dividend of $0.35625 per share of 5.700% Non-Cumulative Preferred Stock, Series D (NYSE: AGM.PR.D), $0.359375 per share of 5.750% Non-Cumulative Preferred Stock, Series E (NYSE: AGM.PR.E), $0.328125 per share of 5.250% Non-Cumulative Preferred Stock, Series F (NYSE: AGM.PR.F), and $0.3046875 per share of 4.875% Non-Cumulative Preferred Stock, Series G (AGM.PR.G), is for the period from but not including July 17, 2024 to and including October 17, 2024. These preferred stock dividends will be payable on October 17, 2024 to holders of record of those classes of preferred stock as of October 1, 2024.

About Farmer Mac
Farmer Mac is driven by its mission to increase the accessibility of financing for American agriculture and rural infrastructure. As a secondary market provider for our nation's agricultural and rural infrastructure credit, we provide financial solutions to a broad spectrum of customers supporting rural America, including agricultural lenders, agribusinesses, and rural electric cooperatives. We are uniquely positioned to facilitate competitive access to financing that fuels growth, innovation, and prosperity in America's rural and agricultural communities. Additional information about Farmer Mac is available on Farmer Mac's website at www.farmermac.com.

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SOURCE Farmer Mac

FAQ

What is the dividend amount for Farmer Mac (AGM) common stock in Q3 2024?

Farmer Mac (AGM) has declared a third quarter dividend of $1.40 per share for each of its three classes of common stock.

When will Farmer Mac (AGM) pay its Q3 2024 common stock dividend?

Farmer Mac (AGM) will pay its third quarter common stock dividend on September 30, 2024, to holders of record as of September 16, 2024.

What are the dividend rates for Farmer Mac's (AGM) preferred stock series?

Farmer Mac's (AGM) preferred stock dividend rates are: 5.700% for Series D, 5.750% for Series E, 5.250% for Series F, and 4.875% for Series G.

When will Farmer Mac (AGM) pay its preferred stock dividends in 2024?

Farmer Mac (AGM) will pay its preferred stock dividends on October 17, 2024, to holders of record as of October 1, 2024.