Federal Agricultural Mortgage Corporation Raises Quarterly Dividend 7% to $1.60
Federal Agricultural Mortgage Corporation declared a quarterly dividend of $1.60 per share on all three classes of common stock, marking a 7% increase from the prior quarter and the company's fifteenth consecutive annual dividend increase.
Federal Agricultural Mortgage Corporation (NYSE: AGM), a government-sponsored enterprise that provides credit guarantees and financing for agricultural and rural infrastructure loans, raised its quarterly common stock dividend by 7% to $1.60 per share. The increase marks the fifteenth consecutive year the company has boosted its dividend. Read more dividend announcements.
The dividend will be paid on March 31, 2026, to shareholders of record as of March 16, 2026. The increase applies to all three classes of common stock: Class A voting common stock (NYSE: AGM.A), Class B voting common stock, and Class C non-voting common stock (NYSE: AGM).
The board approved the higher payout on February 18, 2026, citing the company's earnings growth and strong capital position. Farmer Mac's previous quarterly dividend stood at $1.50 per share.
Preferred Stock Dividends
The board also declared dividends on five classes of preferred stock, all payable on April 17, 2026, to holders of record as of April 1, 2026. The preferred dividends cover the period from but not including January 17, 2026, to and including April 17, 2026.
The 5.700% Non-Cumulative Preferred Stock, Series D (NYSE: AGM.PR.D) will pay $0.35625 per share. The 5.750% Non-Cumulative Preferred Stock, Series E (NYSE: AGM.PR.E) will pay $0.359375 per share. The 5.250% Non-Cumulative Preferred Stock, Series F (NYSE: AGM.PR.F) will pay $0.328125 per share.
The 4.875% Non-Cumulative Preferred Stock, Series G (AGM.PR.G) will pay $0.3046875 per share, and the 6.500% Non-Cumulative Preferred Stock, Series H (AGM.PR.H) will pay $0.40625 per share. Each share of preferred stock has a par value and liquidation preference of $25.00 per share.
Dividend Payment Details
| Security Type | Amount Per Share | Record Date | Payment Date |
|---|---|---|---|
| Common Stock (All Classes) | $1.60 | March 16, 2026 | March 31, 2026 |
| Preferred Stock (All Series) | $0.3046875 - $0.40625 | April 1, 2026 | April 17, 2026 |
Full Year 2025 Performance
Farmer Mac reported record outstanding business volume growth of $3.8 billion for 2025, reflecting 13% growth year-over-year and bringing total outstanding business volume to $33.4 billion. The company provided $10.5 billion in liquidity and lending capacity to lenders serving rural America during the year.
Net interest income grew 10% year-over-year to $390.7 million. Net effective spread, a non-GAAP measure, increased 13% from the prior-year period to a record $383.0 million.
Net income attributable to common stockholders reached $182.5 million, or $16.62 per diluted share. Core earnings, another non-GAAP measure, hit a record $182.9 million, or $16.66 per diluted share, reflecting 7% growth year-over-year.
As of December 31, 2025, Farmer Mac reported total core capital of $1.7 billion and a Tier 1 Capital Ratio of 13.3%.