Federal Agricultural Mortgage Co. (NYSE:AGM) Raises Dividend to $1.50 Per Share

Federal Agricultural Mortgage Co. (NYSE:AGM) announced a quarterly dividend on Thursday, February 20th, NASDAQ Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40.

Federal Agricultural Mortgage has increased its dividend payment by an average of 16.7% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Federal Agricultural Mortgage has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. 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 AGM stock 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. Federal Agricultural Mortgage has a 1 year low of $169.17 and a 1 year high of $217.60. The firm’s fifty day simple moving average is $196.77 and its 200 day simple moving average is $194.30. The firm has a market capitalization of $2.27 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 1.59 and a beta of 1.08.

Insider Transactions at Federal Agricultural Mortgage

In related news, CEO Bradford T. Nordholm sold 5,073 shares of Federal Agricultural Mortgage stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $213.37, for a total transaction of $1,082,426.01. Following the sale, the chief executive officer now directly owns 41,104 shares of the company’s stock, valued at $8,770,360.48. This trade represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.58% of the company’s stock.

Federal Agricultural Mortgage Company Profile

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.