Federal Agricultural Mortgage Co. (NYSE:AGM) Plans Quarterly Dividend of $1.50

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 paid 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 is Friday, March 14th. This is an increase 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 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 Stock Up 6.4 %

Shares of AGM stock traded up $12.55 during trading on Friday, reaching $208.22. The company’s stock had a trading volume of 73,753 shares, compared to its average volume of 33,302. Federal Agricultural Mortgage has a 1-year low of $169.17 and a 1-year high of $217.60. The stock’s 50-day moving average price is $196.81 and its 200 day moving average price is $194.16. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 1.61 and a beta of 1.08. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.49 and a quick ratio of 0.49.

Insiders Place Their Bets

In other news, CEO Bradford T. Nordholm sold 5,073 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 41,104 shares of the company’s stock, valued at approximately $8,770,360.48. The trade was a 10.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.58% of the company’s stock.

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.