Federal Agricultural Mortgage Corp. (NYSE:AGM) announced a quarterly dividend on Friday, February 22nd, Wall Street Journal reports. Investors of record on Friday, March 15th will be given a dividend of 0.70 per share by the credit services provider on Friday, March 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Federal Agricultural Mortgage’s previous quarterly dividend of $0.58.
Federal Agricultural Mortgage has raised its dividend payment by an average of 53.6% annually over the last three years and has raised its dividend annually for the last 7 consecutive years.
AGM opened at $77.70 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.66. Federal Agricultural Mortgage has a fifty-two week low of $55.64 and a fifty-two week high of $99.11. The stock has a market capitalization of $828.83 million, a P/E ratio of 10.38 and a beta of 1.16.
In other Federal Agricultural Mortgage news, Director Chester J. Culver sold 1,000 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $75.00, for a total value of $75,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.48% of the company’s stock.
Separately, Compass Point upgraded shares of Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $83.00 to $86.00 in a report on Friday, February 22nd.
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Federal Agricultural Mortgage Company Profile
Federal Agricultural Mortgage Corp. is a stockholder-owned, federally chartered corporation. The company provides a secondary market for agricultural real estate and rural housing mortgage loans, rural utilities loans, and loans guaranteed by the United States Department of Agriculture. It combines private capital and public sponsorship to serve a public purpose.
See Also: Inflation
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