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Federal Agricultural Mortgage Corp., 5.875% Non-Cumul Preferred Stock, Series A
Ticker Symbol: AGM-A* CUSIP: 313148801 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/21/2020
Security has been Called for: Saturday, September 19, 2020
August 20, 2020 -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A) announced that it intends to provide notice to the holders of its 5.875% Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”) of the redemption of all of its outstanding 2,400,000 shares of Series A Preferred Stock. Farmer Mac will redeem the Series A Preferred Stock for a redemption price of $25.00 per share, plus any declared and unpaid dividends through and including the redemption date. The redemption date will be September 19, 2020. On and after the redemption date, dividends on the Series A Preferred Stock will cease to accrue. The September 19, 2020 redemption date is not a business day, so the redemption price will be paid on the next business day -September 21, 2020.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Federal Agricultural Mortgage Corp. (Farmer Mac), 5.875% Non-Cumulative Preferred Stock, Series A, liquidation preference $25 per share, redeemable at the issuer's option on or after 1/17/2018 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 5.875% per annum ($1.46875 per annum or $0.3671875 per quarter) will be paid quarterly on 1/17, 4/17, 7/17 & 10/17 to holders of record on the record date fixed by the board, not more than 45 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders. This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (AGM)
IPO - 1/14/2013 - 2.40 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Market Value $60.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 1999 K Street, N.W., 4th Floor, Washington, DC 20006 |
| Main Phone Number |
202-872-7700 |
| Fax Number |
202-872-7713 |
| Investor Relations
Jalpa Nazareth
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202-872-5570
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| Toll Free Phone Number |
800-879-3276 |
| CEO - Bradford T. Nordholm |
CFO - Aparna Ramesh |
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