Federal Agricultural Mortgage Corp. Q4 Profit Tops Estimates

(RTTNews) - The Federal Agricultural Mortgage Corporation (AGM) reported that its fourth quarter net income to stockholders increased to $40.8 million from $36.6 million, last year. Earnings per share was $3.73 compared to $3.36. Core EPS increased to $4.10 from $3.16, a year ago. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $4.05, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter net interest income increased to $82.17 million from $73.64 million, prior year. Non-interest income was $2.78 million compared to $5.42 million. Analysts on average had estimated $88.99 million in revenue.

On February 21, 2024, Farmer Mac's Board declared a quarterly dividend of $1.40 per share on all three classes of common stock. This quarterly dividend will be payable on March 28, 2024 to holders of record of common stock as of March 15, 2024.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.