WASHINGTON, May 17, 2019 /PRNewswire/ -- The
board of directors of the Federal Agricultural Mortgage Corporation
(Farmer Mac) has declared a second quarter dividend of $0.70 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 June 28,
2019 to holders of record of common stock as of
June 14, 2019.
Farmer Mac's board of directors has also declared a dividend on
each of Farmer Mac's four classes of preferred stock. The quarterly
dividend of $0.3672 per share of
5.875% Non-Cumulative Preferred Stock, Series A (NYSE: AGM.PR.A)
and $0.375 per share of 6.000%
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C
(NYSE: AGM.PR.C) is for the period from but not including
April 17, 2019 to and including
July 17, 2019. The dividend of
$0.2533 per share of 5.700%
Non-Cumulative Preferred Stock, Series D (NYSE: AGM.PR.D) is
for the period from but not including May 13, 2019 (the
issuance date) to and including July
17, 2019. These preferred stock dividends will be
payable on July 17, 2019 to holders
of record of preferred stock as of July 2,
2019.
On May 13, 2019, Farmer Mac called
for redemption all of Farmer Mac's outstanding 3,000,000 shares of
6.875% Non-Cumulative Preferred Stock, Series B (NYSE: AGM.PR.B) on
the redemption date of June 12, 2019. Farmer Mac's board
of directors has declared a dividend of $0.2626 per share of Series B Preferred Stock
called for redemption for the period from but not including
April 17, 2019 to and including the
June 12, 2019 redemption date. The
preferred stock dividends on the shares of Series B Preferred Stock
that are redeemed will be payable on the redemption date as part of
the redemption price to holders of record of Series B 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 largest
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. In fact, we are often able to provide
the lowest cost of borrowing to agricultural and rural borrowers.
For more than 30 years, Farmer Mac has been delivering the
capital and commitment rural America deserves. Additional
information about Farmer Mac is available on Farmer Mac's website
at www.farmermac.com.
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SOURCE Farmer Mac