Farmer Mac (AGM) Raises Quarterly Dividend 38.5% to $0.36; 2.6% Yield
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Farmer Mac Reports 2016 Results and Announces Dividend Increase
March 9, 2017 8:00 AM ESTWASHINGTON, March 9, 2017 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A) today announced its results for the fiscal quarter and year ended December 31, 2016, which included $1.5 billion in net new business volume growth in 2016 that brought total outstanding business volume to $17.4 billion as of December 31, 2016. Farmer Mac's net income attributable to common stockholders for 2016 was $64.2 million ($5.97 per diluted common share), compared to $47.4 million ($4.19 per diluted common share) in 2015. Farmer Mac's 2016 core earnings, a non-GAAP measure, were $53.8 million ($5.01 per diluted common share), compared to $47.0 million ($4.15 per diluted common share) in 2015.
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