WASHINGTON, Aug. 27, 2020 /PRNewswire/ -- The
board of directors of the Federal Agricultural Mortgage Corporation
(Farmer Mac) has declared a third quarter dividend of $0.80 per share for each of Farmer Mac's three
classes of common stock – Class A Voting Common Stock (NYSE:
AGM.A), Class B Voting Common Stock (not listed on any exchange),
and Class C Non-Voting Common Stock (NYSE: AGM). The
quarterly dividend will be payable on September 30, 2020 to holders of record of common
stock as of September 16,
2020.
Farmer Mac's board of directors has also declared a dividend on
each of Farmer Mac's five classes of preferred stock. The quarterly
dividend of $0.375 per share of
6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock,
Series C (NYSE: AGM.PR.C), $0.35625
per share of 5.700% Non-Cumulative Preferred Stock, Series D (NYSE:
AGM.PR.D), and $0.359375 per share of
5.750% Non-Cumulative Preferred Stock Series E (NYSE: AGM.PR.E), is
for the period from but not including July
17, 2020 to and including October
17, 2020. The dividend of $0.2078125 per share of 5.250% Non-Cumulative
Preferred Stock, Series F (NYSE: AGM.PR.F) is for the period from
but not including August 20, 2020
(the issuance date) to and including October
17, 2020. These preferred stock dividends will be
payable on October 17, 2020 to
holders of record of those classes of preferred stock as of
October 2, 2020.
On August 20, 2020, Farmer Mac
called for redemption all of Farmer Mac's outstanding 2,400,000
shares of 5.875% Non-Cumulative Preferred Stock, Series A (NYSE:
AGM.PR.A) on the redemption date of September 19, 2020. Farmer Mac's board of
directors has declared a dividend of $0.2530 per share of Series A Preferred Stock
called for redemption for the period from but not including
July 17, 2020 to and including the
September 19, 2020 redemption
date. The preferred stock dividends on the shares of Series A
Preferred Stock that are redeemed will be payable on the redemption
date as part of the redemption price to holders of record of Series
A Preferred Stock as of the redemption date.
About Farmer Mac
Farmer Mac is a vital part of the agricultural credit markets
and was created to increase access to and reduce the cost of
capital for the benefit of American agricultural and rural
communities. As the nation's secondary market for agricultural
credit, we provide financial solutions to a broad spectrum of the
agricultural community, including agricultural lenders,
agribusinesses, and other institutions that can benefit from access
to flexible, low-cost financing and risk management tools. Farmer
Mac's customers benefit from our low cost of funds, low overhead
costs, and high operational efficiency. Additional information
about Farmer Mac is available on Farmer Mac's website at
www.farmermac.com.
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SOURCE Farmer Mac