Federal Agricultural Mortgage Co. (NYSE:AGM) Announces $1.40 Quarterly Dividend

Federal Agricultural Mortgage Co. (NYSE:AGM - Get Free Report) announced a quarterly dividend on Wednesday, May 15th, NASDAQ reports. Investors of record on Friday, June 14th will be given a dividend of 1.40 per share by the credit services provider on Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, June 14th.

Federal Agricultural Mortgage has increased its dividend payment by an average of 11.2% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Federal Agricultural Mortgage has a dividend payout ratio of 30.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Federal Agricultural Mortgage to earn $18.08 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 31.0%.

Federal Agricultural Mortgage Stock Down 0.6 %

Shares of AGM traded down $1.01 during midday trading on Thursday, reaching $181.40. 30,236 shares of the stock were exchanged, compared to its average volume of 61,970. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.51 and a beta of 1.08. The firm has a 50 day simple moving average of $186.69 and a 200-day simple moving average of $180.79. Federal Agricultural Mortgage has a 12-month low of $132.47 and a 12-month high of $199.40. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.38.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last posted its earnings results on Monday, May 6th. The credit services provider reported $3.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.94 by $0.02. Federal Agricultural Mortgage had a net margin of 13.79% and a return on equity of 22.01%. The firm had revenue of $403.63 million during the quarter, compared to analysts' expectations of $92.22 million. During the same period in the previous year, the company earned $3.56 earnings per share. Research analysts forecast that Federal Agricultural Mortgage will post 16.66 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reissued an "outperform" rating and set a $212.00 target price (down from $225.00) on shares of Federal Agricultural Mortgage in a research report on Wednesday, May 8th.

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.

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