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.
News about Federal Agricultural Mortgage Corporation (Farmer Mac, NYSE: AGM) centers on its role as a secondary market provider that increases the accessibility of financing for American agriculture and rural infrastructure. The company regularly issues press releases and files current reports on Form 8-K describing developments that affect its business, capital structure, and leadership.
Investors following AGM news will see updates on Farmer Mac’s mission-driven activities, including announcements related to providing liquidity and lending capacity to lenders serving rural America and supporting agricultural and infrastructure businesses. The company has highlighted securitizations of agricultural mortgage loans into agricultural mortgage-backed securities (AMBS) as part of its effort to support a vibrant and liquid AMBS market aligned with its mission to improve credit accessibility in rural America.
Farmer Mac’s news flow also includes information on dividends and capital instruments. The board of directors has reported quarterly dividends on its three classes of common stock and multiple series of non-cumulative preferred stock, including the issuance and dividend declarations for its 6.500% Non-Cumulative Preferred Stock, Series H. These announcements are typically accompanied by corresponding Form 8-K filings that describe the terms of the dividends and offerings.
Corporate governance and leadership changes are another key theme in Farmer Mac’s news. Recent press releases and 8-K filings have discussed the planned retirement of the Chief Executive Officer, the appointment of a President and Chief Operating Officer who has been designated as the next CEO, and the selection of senior executives such as a Chief Legal Officer and a Chief Financial Officer and Treasurer. Updates on board composition, including changes involving presidential appointees, are also disclosed.
In addition, Farmer Mac issues news releases about its quarterly financial results and the timing of earnings conference calls, referencing metrics such as outstanding business volume, net interest income, net effective spread, and core earnings. For investors and analysts, monitoring AGM news provides insight into Farmer Mac’s financial performance, capital actions, securitization activities, and leadership developments related to its mission of supporting American agriculture and rural infrastructure.
The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM, AGM.A) announced plans to issue $120 million of Tier 1 capital through a public offering of 5.250% non-cumulative perpetual Series F preferred stock. The offering is expected to close on August 20, 2020, and proceeds will be used for general corporate purposes and to redeem $60 million of existing Series A preferred stock. The Series F preferred stock will have a fixed dividend rate and no maturity date, with an option for Farmer Mac to redeem it starting on October 17, 2025.
Farmer Mac (NYSE: AGM, AGM.A) reported strong financial performance for Q2 2020, with $1.7 billion in liquidity and a net income of $31.7 million, equating to $2.94 per diluted share. The company achieved a net outstanding business volume growth of $502.8 million, reaching a total of $22.0 billion. Core earnings also rose to $26.3 million ($2.45 per diluted share). Despite the COVID-19 pandemic, 90-day delinquencies decreased to 0.31% of total business volume. The robust liquidity position was highlighted by a $0.8 billion cash reserve and the issuance of $79.5 million in Tier 1 capital.
The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM, AGM.A) will release its financial results for the fiscal quarter ending June 30, 2020, on August 10, 2020, after market close. A conference call is scheduled for 5:00 p.m. ET that day to discuss the results. Farmer Mac plays a crucial role in enhancing credit availability for rural America, providing financial solutions to agricultural lenders and agribusinesses, thus supporting the agricultural credit markets effectively.