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| Federal Agricultural Mortgage's Preferred Stock, Series E Shares Cross 6% Yield MarkBy Preferred Stock Channel Staff, Tuesday, June 13, 2:28 PM ET
In trading on Tuesday, shares of Federal Agricultural Mortgage Corp's 5.75% Non-Cumul Preferred Stock, Series E (NYSE:AGM.PRE) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.4375), with shares changing hands as low as $23.61 on the day. This compares to an average yield of 6.89% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, AGM.PRE was trading at a 3.92% discount to its liquidation preference amount, versus the average discount of 14.28% 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.PRE shares, versus AGM:
Below is a dividend history chart for AGM.PRE, showing historical dividend payments on Federal Agricultural Mortgage Corp's 5.75% Non-Cumul Preferred Stock, Series E:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Tuesday trading, Federal Agricultural Mortgage Corp's 5.75% Non-Cumul Preferred Stock, Series E (NYSE:AGM.PRE) is currently off about 1.7% on the day, while the common shares (NYSE:AGM) are down about 0.4%.
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