In trading on Thursday, shares of Federal Agricultural Mortgage Corp.'s 5.875% Non-Cumulative Preferred Stock, Series A (AGM.PRA) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.4688), with shares changing hands as low as $22.52 on the day. This compares to an average yield of 5.67% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, AGM.PRA was trading at a 9.04% discount to its liquidation preference amount, versus the average discount of 3.36% 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.PRA shares, versus AGM:
Federal Agricultural Mortgage's Preferred Stock, Series A Shares Cross 6.5% Yield Mark
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