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Federal Agricultural Mortgage Corp | 4.875% Non-Cumul Preferred Stock Series G (AGM.PRG)
Prospectus excerpt: On May 20, 2021, Farmer Mac priced an offering of $125 million (5,000,000 shares) of 4.875% Non-Cumulative Preferred Stock, Series G (the “Preferred Stock”). The Preferred Stock has a par value of $25.00 per share and a liquidation preference of $25.00 per share. The net proceeds before expenses to Farmer Mac for the Preferred Stock upon settlement are expected to be approximately $121.5 million. Farmer Mac intends to use the net proceeds of the offering for general corporate purposes. The Preferred Stock is not convertible or exchangeable into any other class or series of equity of Farmer Mac. The settlement date for the Preferred Stock offering is expected to be May 27, 2021. Full Prospectus PDF », Secondary Prospectus PDF », AGM Page »
| Series: | G | | Alternate symbology: | AGM-G, AGM-PG, AGMprG | | Redeemable?: | Yes | | Call Date: | 7/17/2026 | | Perpetual?: | Yes | | Cumulative?: | No | | Shares Offered: | 5,000,000 | | Liquidation Preference: | $25.00 | | Recent Market Price: | $19.46 | Discount to Liquidation Preference:
(More Preferreds Trading at a Discount ») | $-5.54 (-22.16%) | | Annualized Dividend: | 1.21875 | | Recent Ex-Date: | 3/28/2024 | | Current Yield: | 6.26% | | Original Coupon: | 4.88% | | Pay Period: | Quarterly | | Pay Dates: | 17-Jan, 17-Apr, 17-Jul, 17-Oct | | CDx3 Compliance Rating: |
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Federal Agricultural Mortgage is engaged in providing a secondary market for a variety of loans made to borrowers in rural America. Co.'s secondary market activities include: purchasing eligible loans directly from lenders; issuing and guaranteeing securities that represent interests in, or obligations secured by, pools of eligible loans; servicing eligible loans purchased or securitized by Co.; and providing long-term standby purchase commitments for eligible loans. Co. has two lines of business, Agricultural Finance and Rural Infrastructure Finance. Within those two lines of business are four segments: Corporate AgFinance, Farm and Ranch, Rural Utilities, and Renewable Energy. Preferreds: AGM.PRA, AGM.PRB, AGM.PRC, AGM.PRD, AGM.PRE, AGM.PRF, AGM.PRG
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