Business Context and Reporting Period
Company: Federal Agricultural Mortgage Corporation (Farmer Mac)
Filing Type: Form 8-K (Current Report)
Date of Report: November 6, 2024
Event: Declaration of quarterly dividends on common and preferred stock classes.
Key Financial Metrics
This filing reports dividend declarations rather than operational financial performance. No revenue, profit, cash flow, margin, debt, or liquidity metrics are provided in this document.
| Security Class | Dividend Per Share | Record Date | Payment Date |
|---|---|---|---|
| Class A, B, and C Common Stock | $1.40 | December 16, 2024 | December 31, 2024 |
| Series D Preferred (5.700%) | $0.35625 | January 2, 2025 | January 17, 2025 |
| Series E Preferred (5.750%) | $0.359375 | January 2, 2025 | January 17, 2025 |
| Series F Preferred (5.250%) | $0.328125 | January 2, 2025 | January 17, 2025 |
| Series G Preferred (4.875%) | $0.3046875 | January 2, 2025 | January 17, 2025 |
Note: Preferred stock dividends cover the period from October 17, 2024, to January 17, 2025. Par value and liquidation preference for preferred shares are $25.00.
Material Changes
The filing does not provide comparative financial data or discuss material changes in operations, revenue, or profitability versus prior periods. The primary change reported is the Board's declaration of the specific dividend amounts listed above.
Guidance, Outlook, and Risks
Management Commentary: The Board of Directors declared the dividends on November 6, 2024. Further details are referenced in an attached press release (Exhibit 99).
Outlook: No forward-looking guidance regarding earnings or business strategy is included in this filing.
Risks and Contingencies: No specific risks or contingencies are disclosed in this document.
Investor Verification Checklist
- Verify the record dates (December 16, 2024, for common; January 2, 2025, for preferred) to ensure eligibility for the declared dividends.
- Confirm the payment dates (December 31, 2024, for common; January 17, 2025, for preferred) for cash flow planning.
- Review the attached press release (Exhibit 99) for any additional context regarding the dividend declaration not present in the 8-K text.
- Check subsequent filings for the company's quarterly earnings report to assess the financial capacity supporting these dividend payments.