Farmer Mac prices $100 million series H preferred stock offering

The Federal Agricultural Mortgage Corporation (NYSE: AGM and AGM.A) announced it has agreed to issue $100 million of Tier 1 capital through a public offering of 6.500% non-cumulative perpetual Series H preferred stock with a par value of $25.00 per share.

The preferred stock offering is expected to close on August 25, 2025, subject to customary closing conditions. Farmer Mac expects to list the new series of preferred stock on the New York Stock Exchange under the symbol "AGM PRH."

The dividend rate on the Series H preferred stock will remain at a non-cumulative, fixed rate of 6.500% per year when, as, and if a dividend is declared by Farmer Mac's Board of Directors. The preferred stock will have no maturity date, but Farmer Mac will have the option to redeem the stock on any dividend payment date on and after October 17, 2030.

RBC Capital Markets, LLC served as the sole book-running manager for the transaction. The offering is being made pursuant to an exemption from registration under the Securities Act of 1933, as amended, and is being made solely by means of an offering circular.

The information is based on a company press release statement.

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