Welcome to our dedicated page for Federal Agric Mtg news (Ticker: AGM), a resource for investors and traders seeking the latest updates and insights on Federal Agric Mtg stock.
Federal Agricultural Mortgage Corp (AGM), known as Farmer Mac, provides essential secondary market liquidity for agricultural and rural infrastructure financing. This page serves as the definitive source for official company announcements, financial updates, and strategic developments.
Investors and stakeholders will find timely information on AGM's core operations across Farm & Ranch lending, rural broadband initiatives, and renewable energy financing. The curated collection includes earnings reports, regulatory filings, partnership announcements, and market expansion updates.
All content reflects AGM's role as a government-sponsored enterprise enhancing rural credit accessibility. Users can track developments in agricultural mortgage-backed securities, risk management practices, and sector-specific financial innovations.
Bookmark this page for direct access to primary source materials supporting informed analysis of rural credit markets and AGM's strategic positioning within this specialized financial ecosystem.
On May 16, 2024, Farmer Mac (NYSE: AGM and AGM.A) announced the election of Jeffrey L. Plagge and Kevin G. Riel to its board of directors. Plagge, with extensive banking experience, and Riel, a hop farmer and financial institution board member, replace Dennis Brack and Everett Dobrinski. Board Chair Lowell L. Junkins emphasized their contributions to Farmer Mac's mission of enhancing rural America's financial accessibility. Plagge and Riel expressed enthusiasm for their roles, aiming to leverage their expertise to support Farmer Mac's objectives. Additional details are in Farmer Mac's 2024 proxy statement on their website.
Farmer Mac's board of directors has announced a second quarter dividend of $1.40 per share for its common stockholders, payable on June 28, 2024. The dividend pertains to Class A Voting Common Stock (NYSE: AGM.A), Class B Voting Common Stock, and Class C Non-Voting Common Stock (NYSE: AGM). Additionally, dividends for five classes of preferred stock have been declared, with payments scheduled for July 17, 2024.
Farmer Mac also plans to redeem all 3,000,000 shares of its Series C Preferred Stock (NYSE: AGM.PR.C) valued at $75 million. Holders will receive a written notice between 30 and 60 days before the redemption date, which will not affect the dividend payments declared for July 17, 2024.
Farmer Mac continues its mission to provide accessible financing to American agriculture and rural infrastructure, supporting various customers including agricultural lenders and rural electric cooperatives.
Farmer Mac reported strong first-quarter 2024 results with outstanding business volume of $28.8 billion. The company provided $1.4 billion in liquidity, saw a 9% increase in net interest income, and achieved 17% growth in net income. Farmer Mac maintained a solid capital position and core earnings grew by 12%. The company's performance reflects its commitment to rural America and stockholder value.
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