Federal Agricultural Mortgage's Preferred Stock, Series A Yield Pushes Past 6%

In trading on Tuesday, shares of Federal Agricultural Mortgage Corp's 5.875% Non-Cumulative Preferred Stock, Series A ( AGM.PRA) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.4688), with shares changing hands as low as $24.40 on the day. This compares to an average yield of 5.69% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, AGM.PRA was trading at a 1.48% discount to its liquidation preference amount, versus the average premium of 0.87% 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.

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The chart below shows the one year performance of AGM.PRA shares, versus AGM:

Performance Comparison Chart

Below is a dividend history chart for AGM.PRA, showing historical dividend payments on Federal Agricultural Mortgage Corp's 5.875% Non-Cumulative Preferred Stock, Series A:

AGM.PRA+Dividend+History+Chart

In Tuesday trading, Federal Agricultural Mortgage Corp's 5.875% Non-Cumulative Preferred Stock, Series A ( AGM.PRA) is currently down about 0.2% on the day, while the common shares ( AGM) are up about 0.4%.

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