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| Federal Agricultural Mortgage's Preferred Stock, Series C Shares Cross 6% Yield MarkBy Preferred Stock Channel Staff, Wednesday, June 21, 4:20 PM ET
In trading on Wednesday, shares of Federal Agricultural Mortgage Corp's 6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C (NYSE:AGM.PRC) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.50), with shares changing hands as low as $24.85 on the day. This compares to an average yield of 6.94% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, AGM.PRC was trading at a 0.16% premium to its liquidation preference amount, versus the average discount of 14.76% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. The chart below shows the one year performance of AGM.PRC shares, versus AGM:
Below is a dividend history chart for AGM.PRC, showing historical dividend payments on Federal Agricultural Mortgage Corp's 6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Wednesday trading, Federal Agricultural Mortgage Corp's 6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C (NYSE:AGM.PRC) is currently off about 0.4% on the day, while the common shares (NYSE:AGM) are down about 0.2%.
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