On 12/30/13, Federal Agricultural Mortgage Corp.'s 5.875% Non-Cumulative Preferred Stock, Series A (AGM.PRA) will trade ex-dividend, for its quarterly dividend of $0.3672, payable on 1/17/14. As a percentage of AGM.PRA's recent share price of $19.70, this dividend works out to approximately 1.86%, so look for shares of AGM.PRA to trade 1.86% lower — all else being equal — when AGM.PRA shares open for trading on 12/30/13. On an annualized basis, the current yield is approximately 7.37%, which compares to an average yield of 5.97% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, AGM.PRA was trading at a 20.28% discount to its liquidation preference amount. 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.PRA shares, versus AGM:
Below is a dividend history chart for AGM.PRA, showing historical dividends prior to the most recent $0.3672 on Federal Agricultural Mortgage Corp.'s 5.875% Non-Cumulative Preferred Stock, Series A:
In Thursday trading, Federal Agricultural Mortgage Corp.'s 5.875% Non-Cumulative Preferred Stock, Series A (AGM.PRA) is currently off about 1.1% on the day, while the common shares (AGM) are up about 1.6%.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV