The adjustment brings the total annualized payout to $6.40 per share. Based on the company’s Thursday closing price of $174.04, the new dividend represents an annual yield of approximately 3.7%. This increase follows a period of sustained performance that management believes justifies a higher return of capital to its investors.
In section Market Quotes
Farmer Mac Hikes Quarterly Dividend 7% Amid Earnings Growth
The Federal Agricultural Mortgage Corporation, known as Farmer Mac, has increased its quarterly dividend by 7% to $1.60 per share, up from the previous $1.50. The decision underscores the institution's robust capital position and a positive outlook for projected earnings growth in the agricultural secondary mortgage market.
Capital Position and Distribution Timeline
According to the company, the dividend hike is backed by both historical earnings and a forecast of continued growth. As a central player in the secondary market for agricultural credit, Farmer Mac maintains a capital-intensive business model that relies on steady interest income and mortgage-backed securities.The board confirmed the following key dates and figures for the upcoming distribution:
- The quarterly payout increases from $1.50 to $1.60 per share.
- Shareholders of record as of March 16 will be eligible for the payment.
- The dividend is scheduled for disbursement on March 31.
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