Live News • May 17
Farmer Mac Launches $100 Million Series I Preferred Stock With 6.875% Dividend Federal Agricultural Mortgage (Farmer Mac) has priced a public offering of $100 million of 6.875% non-cumulative perpetual Series I preferred stock.
The Series I preferred shares are expected to qualify as Tier 1 capital, which supports the company’s regulatory capital base.
Farmer Mac plans to list the Series I preferred stock on the New York Stock Exchange under the ticker "AGM PRI" and use the net proceeds for general corporate purposes.
This preferred stock issuance adds a new layer of capital without common equity dilution, which can matter if you are focused on existing common share ownership.
At the same time, preferred investors should weigh the 6.875% dividend against the non-cumulative feature and the perpetual nature of the security when comparing it with other income options. Declared Dividend • May 17
First quarter dividend of US$1.60 announced Shareholders will receive a dividend of US$1.60. Ex-date: 15th June 2026 Payment date: 30th June 2026 Dividend yield will be 3.6%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 9.3% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • May 14
Federal Agricultural Mortgage Corporation Declares Second Quarter Dividend on Class A, B Voting Common Stock and Class C Non Voting Common Stock, Payable on June 30, 2026 The board of directors of the Federal Agricultural Mortgage Corporation has declared a second quarter dividend of $1.60 per share for each of Farmer Mac's three classes of common stock – Class A Voting Common Stock, Class B Voting Common Stock (not listed on any exchange), and Class C Non-Voting Common Stock. The quarterly dividend will be payable on June 30, 2026 to holders of record of common stock as of June 15, 2026. Announcement • Apr 22
Federal Agricultural Mortgage Corporation to Report Q1, 2026 Results on May 05, 2026 Federal Agricultural Mortgage Corporation announced that they will report Q1, 2026 results After-Market on May 05, 2026 Announcement • Apr 16
Federal Agricultural Mortgage Corporation, Annual General Meeting, May 14, 2026 Federal Agricultural Mortgage Corporation, Annual General Meeting, May 14, 2026. Location: ations/, United States Upcoming Dividend • Mar 09
Upcoming dividend of US$1.60 per share Eligible shareholders must have bought the stock before 16 March 2026. Payment date: 31 March 2026. Payout ratio is a comfortable 36% and the cash payout ratio is 87%. Trailing yield: 4.0%. Lower than top quartile of American dividend payers (4.3%). Higher than average of industry peers (1.1%). Declared Dividend • Feb 23
Fourth quarter dividend increased to US$1.60 Dividend of US$1.60 is 6.7% higher than last year. Ex-date: 16th March 2026 Payment date: 31st March 2026 Dividend yield will be 3.9%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (36% earnings payout ratio) and cash flows (87% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 18% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 20
Federal Agricultural Mortgage Corporation Declares First Quarter Dividend on Class A, B Voting Common Stock and Class C Non Voting Common Stock, Payable on March 31, 2026 On February 18, 2026, Farmer Mac's Board of Directors declared a quarterly dividend of $1.60 per share on all three classes of common stock – Class A voting common stock, Class B voting common stock (not listed on any exchange), and Class C non-voting common stock. This quarterly dividend, which represents an increase of 7% in Farmer Mac's quarterly dividend rate on a year-over-year basis, will be payable on March 31, 2026 to holders of record of common stock as of March 16, 2026. This is the fifteenth consecutive year that Farmer Mac has increased its quarterly common stock dividend, and this increase is supported by Farmer Mac's previous and expected earnings growth and overall capital position. Buy Or Sell Opportunity • Feb 10
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 9.3% to US$183. The fair value is estimated to be US$150, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has grown by 8.7%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Announcement • Feb 06
Federal Agricultural Mortgage Corporation to Report Q4, 2025 Results on Feb 19, 2026 Federal Agricultural Mortgage Corporation announced that they will report Q4, 2025 results After-Market on Feb 19, 2026 Buy Or Sell Opportunity • Jan 08
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 7.5% to US$176. The fair value is estimated to be US$147, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has grown by 8.7%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Upcoming Dividend • Dec 08
Upcoming dividend of US$1.50 per share Eligible shareholders must have bought the stock before 15 December 2025. Payment date: 31 December 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (1.0%). Buy Or Sell Opportunity • Nov 24
Now 21% overvalued Over the last 90 days, the stock has fallen 19% to US$167. The fair value is estimated to be US$139, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has grown by 8.7%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Declared Dividend • Nov 09
Third quarter dividend of US$1.50 announced Shareholders will receive a dividend of US$1.50. Ex-date: 15th December 2025 Payment date: 31st December 2025 Dividend yield will be 3.7%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 14% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Nov 07
Now 21% overvalued Over the last 90 days, the stock has fallen 7.7% to US$164. The fair value is estimated to be US$136, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has grown by 8.7%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Announcement • Nov 06
Federal Agricultural Mortgage Corporation Declares Fourth Quarter Dividend on Class A, B Voting Common Stock and Class C Non Voting Common Stock, Payable on December 31, 2025 The board of directors of the Federal Agricultural Mortgage Corporation has declared a fourth quarter dividend of $1.50 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 December 31, 2025 to holders of record of common stock as of December 15, 2025. Announcement • Oct 21
Federal Agricultural Mortgage Corporation to Report Q3, 2025 Results on Nov 03, 2025 Federal Agricultural Mortgage Corporation announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 03, 2025 Announcement • Oct 07
Federal Agricultural Mortgage Corporation Announces Termination of Position of Chester Culver as Board and Committees Member, Effective September 30, 2025 On September 30, 2025, The White House nominated Jeffrey Kaufmann as the proposed appointee to the Federal Agricultural Mortgage Corporation’s (“Farmer Mac”) Board of Directors (“Board”) to replace Chester Culver, a presidential appointee serving at the pleasure of the President. On September 30, 2025, Mr. Culver was informed by The White House that his position as a Farmer Mac Board member had ended effective immediately. Mr. Kaufmann’s nomination is subject to confirmation by the United States Senate. Mr. Culver rejoined Farmer Mac’s Board in May 2022, after being nominated by President Biden and confirmed by the United States Senate. At the time of Mr. Culver’s departure from the Board, he was serving as chair of the Board’s Public Policy and Corporate Social Responsibility Committee and as a member of the Board’s Enterprise Risk Committee and the Board’s Human Capital and Compensation Committee. Upcoming Dividend • Sep 08
Upcoming dividend of US$1.50 per share Eligible shareholders must have bought the stock before 15 September 2025. Payment date: 30 September 2025. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (0.9%). Recent Insider Transactions • Aug 31
President & CEO recently sold US$871k worth of stock On the 27th of August, Bradford Nordholm sold around 4k shares on-market at roughly US$206 per share. This transaction amounted to 54% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$1.5m. Bradford has been a net seller over the last 12 months, reducing personal holdings by US$5.0m. Announcement • Aug 19
Federal Agricultural Mortgage Corporation Announces Executive Changes Federal Agricultural Mortgage Corporation announced the selection of Geraldine Hayhurst as Executive Vice President – Chief Legal Officer and Secretary, starting September 8, 2025. Current Executive Vice President – General Counsel and Secretary, Stephen Mullery, will retire on April 3, 2026 after 25 years of service. A well-respected leader, Mr. Mullery joined Farmer Mac in 2000 as Assistant General Counsel and was promoted from Deputy General Counsel to the executive officer role of General Counsel and Secretary in 2012. During his career at Farmer Mac, Mr. Mullery has taken an active role in business initiatives and has provided counsel to Farmer Mac's board of directors, executives, departmental groups, and cross-functional teams. A proven builder and leader of legal teams, Ms. Hayhurst joins Farmer Mac with over two decades of experience practicing law, most recently with CoStar Group Inc., where she served as Associate General Counsel, Corporate and Compliance. In that position, she supported the company in all aspects of corporate governance, including filings with the Securities and Exchange Commission (SEC) and managing M&A transactions and Compliance and Privacy teams. She has recently served as General Counsel and Secretary at NewPoint Real Estate Capital, providing strategic advice, developing products and executing corporate strategy, while implementing innovative and forward-looking solutions for the company's financing products. In previous leadership roles at Federal Home Loan Mortgage Corporation (Freddie Mac), Ms. Hayhurst provided counsel to the President, CEO, Division Heads and Board, developed the company's strategic plan and priorities scorecard, was instrumental in the creation of the company's multifamily K-deal securitization product and actively managed and developed a team of 30 attorneys and legal professionals. Prior to joining Freddie Mac, Ms. Hayhurst spent time at the SEC as an Attorney-Advisor in the Division of Trading and Markets and at A&O Shearman and Clifford Chance. Ms. Hayhurst holds a J.D. from Georgetown University Law Center and a BBA in Finance from Loyola University. Declared Dividend • Aug 18
Second quarter dividend of US$1.50 announced Shareholders will receive a dividend of US$1.50. Ex-date: 15th September 2025 Payment date: 30th September 2025 Dividend yield will be 3.1%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 15
Federal Agricultural Mortgage Corporation Declares Third Quarter Dividend on Class A, B Voting Common Stock and Class C Non Voting Common Stock, Payable on September 30, 2025 The board of directors of the Federal Agricultural Mortgage Corporation (Farmer Mac) has declared a third quarter dividend of $1.50 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. The quarterly dividend will be payable on September 30, 2025 to holders of record of common stock as of September 15, 2025. Buy Or Sell Opportunity • Aug 11
Now 24% overvalued Over the last 90 days, the stock has fallen 8.4% to US$178. The fair value is estimated to be US$144, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 9.5%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 9.6% in the next year. Announcement • Jul 25
Federal Agricultural Mortgage Corporation to Report Q2, 2025 Results on Aug 07, 2025 Federal Agricultural Mortgage Corporation announced that they will report Q2, 2025 results at 4:00 PM, US Eastern Standard Time on Aug 07, 2025 Buy Or Sell Opportunity • Jun 18
Now 21% overvalued Over the last 90 days, the stock has fallen 2.1% to US$189. The fair value is estimated to be US$156, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 9.2% in the next year. Recent Insider Transactions • Jun 15
President & CEO recently sold US$1.5m worth of stock On the 10th of June, Bradford Nordholm sold around 8k shares on-market at roughly US$191 per share. This transaction amounted to 51% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Bradford has been a net seller over the last 12 months, reducing personal holdings by US$4.1m. Upcoming Dividend • Jun 09
Upcoming dividend of US$1.50 per share Eligible shareholders must have bought the stock before 16 June 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (0.9%). Buy Or Sell Opportunity • May 27
Now 20% overvalued Over the last 90 days, the stock has fallen 7.4% to US$188. The fair value is estimated to be US$156, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 9.2% in the next year. Declared Dividend • May 18
First quarter dividend of US$1.50 announced Shareholders will receive a dividend of US$1.50. Ex-date: 16th June 2025 Payment date: 30th June 2025 Dividend yield will be 3.0%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 15
Federal Agricultural Mortgage Corporation Declares Second Quarter Dividend on Class A,B Voting Common Stock and Class C Non Voting Common Stock, Payable on June 30, 2025 The board of directors of the Federal Agricultural Mortgage Corporation has declared a second quarter dividend of $1.50 per share for each of Farmer Mac's three classes of common stock – Class A Voting Common Stock, Class B Voting Common Stock (not listed on any exchange), and Class C Non-Voting Common Stock. The quarterly dividend will be payable on June 30, 2025 to holders of record of common stock as of June 16, 2025. Buy Or Sell Opportunity • May 08
Now 21% overvalued Over the last 90 days, the stock has fallen 10% to US$177. The fair value is estimated to be US$147, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 16% in the next 2 years. Announcement • Apr 25
Federal Agricultural Mortgage Corporation to Report Q1, 2025 Results on May 09, 2025 Federal Agricultural Mortgage Corporation announced that they will report Q1, 2025 results Pre-Market on May 09, 2025 Buy Or Sell Opportunity • Apr 23
Now 20% overvalued Over the last 90 days, the stock has fallen 9.9% to US$177. The fair value is estimated to be US$147, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 16% in the next 2 years. Announcement • Apr 18
Federal Agricultural Mortgage Corporation, Annual General Meeting, May 15, 2025 Federal Agricultural Mortgage Corporation, Annual General Meeting, May 15, 2025. Location: 2100 pennsylvania avenue, nw washington, dc20037, United States Announcement • Mar 27
The Federal Agricultural Mortgage Corporation Announces Board Changes The Federal Agricultural Mortgage Corporation announced that Daniel L. Shaw of Edgar, Nebraska has been appointed the newest member of the company's board of directors. His appointment fills the seat of former board member Roy H. Tiarks after his passing in February 2025. An active member of his local farming community, Mr. Shaw and his family have owned and operated Shaw Farms, LLC in Edgar, Nebraska since 1975 and operate two other local agricultural businesses. Mr. Shaw also has significant experience serving as a board member, including on Farmer Mac's Board of Directors from December 2019 through May 2021. He has also served on the boards of other agricultural finance institutions with a national scope, serving on the board of directors of AgriBank Farm Credit Bank from 2014 to 2021 and on the board of directors of Farm Credit Services of America from 2007 to 2014. Mr. Shaw is the chair of the Edgar Township Board and studied business and economics at Nebraska Wesleyan University. Mr. Shaw joins four other board members elected each year by holders of Class B voting common stock (not listed on any exchange). Five other members are elected each year by holders of Class A Voting Common Stock, and five are appointed by the president of the United States with the advice and consent of the United States Senate. Recent Insider Transactions • Mar 13
President & CEO recently sold US$1.5m worth of stock On the 7th of March, Bradford Nordholm sold around 7k shares on-market at roughly US$200 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Bradford has been a net seller over the last 12 months, reducing personal holdings by US$2.6m. Recent Insider Transactions Derivative • Mar 02
President & CEO exercised options and sold US$2.0m worth of stock On the 25th of February, Bradford Nordholm exercised 23.21k options at around US$75.16, then sold 16k of the shares acquired at an average of US$201 per share and kept the remainder. For the year to December 2018, Bradford's total compensation was 14% salary and 86% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Bradford's direct individual holding has increased from 16.85k shares to 19.14k. Company insiders have collectively sold US$8.4m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Mar 02
Independent Director recently sold US$513k worth of stock On the 25th of February, Mitchell Johnson sold around 3k shares on-market at roughly US$205 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.1m. Insiders have been net sellers, collectively disposing of US$4.8m more than they bought in the last 12 months. Declared Dividend • Feb 25
Fourth quarter dividend increased to US$1.50 Dividend of US$1.50 is 7.1% higher than last year. Ex-date: 14th March 2025 Payment date: 31st March 2025 Dividend yield will be 2.8%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 21
Federal Agricultural Mortgage Corporation Declares Quarterly Dividend on Class A and B Voting Common Stock and Class C Non-Voting Common Stock, Payable on March 31, 2025 On February 20, 2025, Federal Agricultural Mortgage Corporation's Board of Directors declared a quarterly dividend of $1.50 per share on all three classes of common stock – Class A voting common stock, Class B voting common stock (not listed on any exchange), and Class C non-voting common stock. This quarterly dividend, which represents an increase of 7% in Farmer Mac's quarterly dividend rate on a year-over-year basis, will be payable on March 31, 2025 to holders of record of common stock as of March 14, 2025. Announcement • Feb 07
Federal Agricultural Mortgage Corporation to Report Q4, 2024 Results on Feb 21, 2025 Federal Agricultural Mortgage Corporation announced that they will report Q4, 2024 results Pre-Market on Feb 21, 2025 Recent Insider Transactions • Dec 16
Executive VP recently sold US$1.1m worth of stock On the 12th of December, Stephen Mullery sold around 5k shares on-market at roughly US$216 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$4.2m more than they bought in the last 12 months. Recent Insider Transactions • Dec 09
President & CEO recently sold US$1.1m worth of stock On the 5th of December, Bradford Nordholm sold around 5k shares on-market at roughly US$213 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Bradford's only on-market trade for the last 12 months. Recent Insider Transactions • Nov 24
Independent Director recently sold US$307k worth of stock On the 19th of November, Mitchell Johnson sold around 2k shares on-market at roughly US$205 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$419k. Insiders have been net sellers, collectively disposing of US$1.9m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Nov 17
Executive VP exercised options and sold US$1.2m worth of stock On the 14th of November, Stephen Mullery exercised 7.13k options at around US$35.75, then sold 7k of the shares acquired at an average of US$212 per share and kept the remainder. Since March 2024, Stephen's direct individual holding has increased from 18.63k shares to 19.17k. Company insiders have collectively sold US$3.8m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 14
Independent Director recently sold US$419k worth of stock On the 12th of November, Mitchell Johnson sold around 2k shares on-market at roughly US$210 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.4m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$213, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Diversified Financial industry in the US. Total returns to shareholders of 79% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$279 per share. Declared Dividend • Nov 10
Third quarter dividend of US$1.40 announced Shareholders will receive a dividend of US$1.40. Ex-date: 16th December 2024 Payment date: 31st December 2024 Dividend yield will be 2.7%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (34% earnings payout ratio) and cash flows (84% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
Federal Agricultural Mortgage Corporation Declares Fourth Quarter Dividend, Payable on December 31, 2024 The board of directors of the Federal Agricultural Mortgage Corporation has declared a fourth quarter dividend of $1.40 per share for each of Farmer Mac's three classes of common stock – Class A Voting Common Stock, Class B Voting Common Stock (not listed on any exchange), and Class C Non-Voting Common Stock. The quarterly dividend will be payable on December 31, 2024 to holders of record of common stock as of December 16, 2024. Announcement • Oct 22
Federal Agricultural Mortgage Corporation to Report Q3, 2024 Results on Nov 04, 2024 Federal Agricultural Mortgage Corporation announced that they will report Q3, 2024 results Pre-Market on Nov 04, 2024 Recent Insider Transactions Derivative • Sep 12
Executive VP exercised options and sold US$839k worth of stock On the 10th of September, Stephen Mullery exercised 6k options at a strike price of around US$32.39 and sold these shares for an average price of US$182 per share. This trade did not impact their existing holding. Since March 2024, Stephen has owned 18.63k shares directly. Company insiders have collectively sold US$1.6m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Sep 09
Upcoming dividend of US$1.40 per share Eligible shareholders must have bought the stock before 16 September 2024. Payment date: 30 September 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (1.0%). Declared Dividend • Aug 11
Second quarter dividend of US$1.40 announced Shareholders will receive a dividend of US$1.40. Ex-date: 16th September 2024 Payment date: 30th September 2024 Dividend yield will be 3.0%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Aug 08
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at US$179. The fair value is estimated to be US$148, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 5.8% in a year. Earnings are forecast to grow by 5.9% in the next year. Announcement • Aug 08
Farmer Mac Declares Quarterly Dividend on Common Stock, Payable on September 30, 2024 The board of directors of the Federal Agricultural Mortgage Corporation (Farmer Mac) has declared a third quarter dividend of $1.40 per share for each of Farmer Mac's three classes of common stock – Class A Voting Common Stock, Class B Voting Common Stock (not listed on any exchange), and Class C Non-Voting Common Stock. The quarterly dividend will be payable on September 30, 2024 to holders of record of common stock as of September 16, 2024. Announcement • Jul 23
Federal Agricultural Mortgage Corporation to Report Q2, 2024 Results on Aug 05, 2024 Federal Agricultural Mortgage Corporation announced that they will report Q2, 2024 results After-Market on Aug 05, 2024 Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$211, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Diversified Financial industry in the US. Total returns to shareholders of 141% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$130 per share. Upcoming Dividend • Jun 07
Upcoming dividend of US$1.40 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (1.0%). Declared Dividend • May 19
First quarter dividend of US$1.40 announced Shareholders will receive a dividend of US$1.40. Ex-date: 14th June 2024 Payment date: 28th June 2024 Dividend yield will be 2.7%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 3.8% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • May 18
Federal Agricultural Mortgage Corporation Announces Board Changes The Federal Agricultural Mortgage Corporation announced that Jeffrey L. Plagge and Kevin G. Riel have been elected as the newest members of the company's board of directors. They replace Dennis Brack and Everett Dobrinski on Farmer Mac's board, both of whom chose not to stand for re–election. Mr. Plagge brings decades of experience in banking and has served on the boards of Northwest Financial Corporation and Northwest Bank since September 2009 and for the Federal Home Loan Bank of Des Moines since January 2024. He has also served as a Managing Director and consultant for Barnes & Co. since January 2024 and served as the President and CEO of Northwest Financial Corporation from 2009 to 2020. In September 2019, Mr. Plagge was appointed Iowa Superintendent of Banking for the Iowa Division of Banking by the state governor and served until December 2023. Mr. Riel also has experience serving on boards of financial institutions and brings firsthand experience of American agriculture, having been a hop farmer for nearly four decades. He has served as the President of Double 'R' Hop Ranches Inc. since January 1995, where he also served as a manager from June 1986 to December 1994. Mr. Riel also currently serves on the board of directors of Yakima Chief Hops, which he joined in 2021. He previously served on the board of directors of CoBank, ACB (2014 to 2021) and Northwest Farm Credit Services (2007 to 2017), including as chair of the board for part of his tenure at both institutions. Mr. Plagge joins four other board members elected each year by holders of Class A voting common stock. Mr. Riel joins four other board members elected each year by holders of Class B voting common stock (not listed on any exchange). Five other board members are appointed by the President of the United States with the advice and consent of the United States Senate. Announcement • May 16
Federal Agricultural Mortgage Corporation Declares Second Quarter Dividend, Payable on June 28, 2024 The board of directors of the Federal Agricultural Mortgage Corporation (Farmer Mac) has declared a second quarter dividend of $1.40 per share for each of Farmer Mac's three classes of common stock – Class A Voting Common Stock, Class B Voting Common Stock (not listed on any exchange), and Class C Non-Voting Common Stock. The quarterly dividend will be payable on June 28, 2024, to holders of record of common stock as of June 14, 2024. Announcement • Apr 23
Federal Agricultural Mortgage Corporation to Report Q1, 2024 Results on May 06, 2024 Federal Agricultural Mortgage Corporation announced that they will report Q1, 2024 results Pre-Market on May 06, 2024 Announcement • Apr 19
Federal Agricultural Mortgage Corporation, Annual General Meeting, May 16, 2024 Federal Agricultural Mortgage Corporation, Annual General Meeting, May 16, 2024, at 08:00 US Eastern Standard Time. Location: New York Stock Exchange building 18 Broad Street, New York, NY 10005 New York New York United States Agenda: To consider and to elect ten directors, five of whom will be elected by holders of Class A Voting Common Stock and five of whom will be elected by holders of Class B Voting Common Stock, to serve until the next annual meeting of stockholders and until their respective successors are elected and qualified; to consider and to ratify the Audit Committee's selection of PricewaterhouseCoopers LLP as Farmer Mac's independent auditor for fiscal year 2024; and to consider other matters. Upcoming Dividend • Mar 07
Upcoming dividend of US$1.40 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 28 March 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (0.9%). Price Target Changed • Feb 27
Price target increased by 9.0% to US$227 Up from US$208, the current price target is an average from 3 analysts. New target price is 26% above last closing price of US$181. Stock is up 27% over the past year. The company is forecast to post earnings per share of US$16.35 for next year compared to US$15.96 last year. Announcement • Feb 24
Federal Agricultural Mortgage Corporation Declares Quarterly Dividend, Payable on March 28, 2024 On February 21, 2024, Farmer Mac's Board of Directors declared a quarterly dividend of $1.40 per share on all three classes of common stock - Class A voting common stock, Class B voting common stock (not listed on any exchange), and Class C non-voting common stock. This quarterly dividend, which represents an increase of 27% in Farmer Mac's quarterly dividend rate on a year-over-year basis, will be payable on March 28, 2024 to holders of record of common stock as of March 15, 2024. This is the thirteenth consecutive year that Farmer Mac has increased its quarterly common stock dividend, and this increase is supported by Farmer Mac's earnings potential and overall capital position. Announcement • Feb 10
Federal Agricultural Mortgage Corporation to Report Q4, 2023 Results on Feb 23, 2024 Federal Agricultural Mortgage Corporation announced that they will report Q4, 2023 results Pre-Market on Feb 23, 2024 Upcoming Dividend • Dec 07
Upcoming dividend of US$1.10 per share at 2.6% yield Eligible shareholders must have bought the stock before 14 December 2023. Payment date: 29 December 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (1.1%). Announcement • Nov 09
Federal Agricultural Mortgage Corporation Declares Dividends on Fourth Quarter, Payable on December 29, 2023 The board of directors of the Federal Agricultural Mortgage Corporation (Farmer Mac) has declared a fourth quarter dividend of $1.10 per share for each of Farmer Mac's three classes of common stock – Class A Voting Common Stock, Class B Voting Common Stock, and Class C Non-Voting Common Stock. The quarterly dividend will be payable on December 29, 2023 to holders of record of common stock as of December 15, 2023. Announcement • Oct 24
Federal Agricultural Mortgage Corporation to Report Q3, 2023 Results on Nov 06, 2023 Federal Agricultural Mortgage Corporation announced that they will report Q3, 2023 results After-Market on Nov 06, 2023 
