Federal Agricultural Mortgage Co. (AGM) to Issue Quarterly Dividend of $1.50 on March 31st

Federal Agricultural Mortgage Co. (NYSE:AGM) announced a quarterly dividend on Thursday, February 20th, NASDAQ Dividends reports. Shareholders of record on Friday, March 14th will be given a dividend of 1.50 per share by the credit services provider on Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40.

Federal Agricultural Mortgage has raised its dividend payment by an average of 16.7% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Federal Agricultural Mortgage has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Federal Agricultural Mortgage to earn $17.60 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 31.8%.

Federal Agricultural Mortgage Trading Up 6.4 %

Shares of NYSE:AGM opened at $208.22 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $2.27 billion, a PE ratio of 13.39, a P/E/G ratio of 1.59 and a beta of 1.08. Federal Agricultural Mortgage has a 1 year low of $169.17 and a 1 year high of $217.60. The firm has a fifty day moving average price of $196.77 and a 200 day moving average price of $194.30.

Insider Transactions at Federal Agricultural Mortgage

In related news, CEO Bradford T. Nordholm sold 5,073 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $213.37, for a total value of $1,082,426.01. Following the transaction, the chief executive officer now directly owns 41,104 shares in the company, valued at approximately $8,770,360.48. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.58% of the stock is currently owned by corporate insiders.

About Federal Agricultural Mortgage

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company’s Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.