Farmer Mac Files 8-K on Financial Condition and Operations

Ticker: AGM-PH · Form: 8-K · Filed: Feb 23, 2024 · CIK: 845877

Federal Agricultural Mortgage Corp 8-K Filing Summary
FieldDetail
CompanyFederal Agricultural Mortgage Corp (AGM-PH)
Form Type8-K
Filed DateFeb 23, 2024
Risk Levellow
Pages4
Reading Time5 min
Key Dollar Amounts$1.40, $0.375, $0.35625, $0.359375, $0.328125
Sentimentneutral

Sentiment: neutral

Topics: financial-condition, operations, 8-K, disclosure

TL;DR

**Farmer Mac just dropped an 8-K on its financials, covering operations and various stock classes as of February 23, 2024.**

AI Summary

Federal Agricultural Mortgage Corporation (Farmer Mac) filed an 8-K on February 23, 2024, reporting on its results of operations and financial condition. The filing also included information on Regulation FD Disclosure, Other Events, and Financial Statements and Exhibits. This report covers various classes of common stock and preferred stock, including Class A, Class C, Series C, Series D, Series E, Series F, and Series G.

Why It Matters

This filing provides an update on Farmer Mac's financial health and operational status, which is crucial for investors and stakeholders to assess the company's performance and stability in the agricultural credit market.

Risk Assessment

Risk Level: low — The 8-K is a routine disclosure of financial condition and operations, not indicating any immediate adverse events.

Key Players & Entities

  • FEDERAL AGRICULTURAL MORTGAGE CORPORATION (company) — Registrant
  • Farmer Mac (company) — Commonly known name for the registrant
  • February 23, 2024 (date) — Date of earliest event reported and filing date
  • Class A (other) — Common stock class
  • Class C (other) — Common stock class
  • Series C (other) — Preferred stock series
  • Series D (other) — Preferred stock series
  • Series E (other) — Preferred stock series
  • Series F (other) — Preferred stock series
  • Series G (other) — Preferred stock series

FAQ

What is the purpose of the 8-K filing by Federal Agricultural Mortgage Corporation?

The 8-K filing by Federal Agricultural Mortgage Corporation, dated February 23, 2024, is to report on its results of operations and financial condition, Regulation FD Disclosure, Other Events, and Financial Statements and Exhibits.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on February 23, 2024.

Which specific types of stock are mentioned in the context of this filing?

The filing mentions us-gaap:CommonClassAMember, us-gaap:CommonClassCMember, us-gaap:SeriesCPreferredStockMember, us-gaap:SeriesDPreferredStockMember, us-gaap:SeriesEPreferredStockMember, us-gaap:SeriesFPreferredStockMember, and us-gaap:SeriesGPreferredStockMember.

What is the Central Index Key (CIK) for Federal Agricultural Mortgage Corporation?

The Central Index Key (CIK) for Federal Agricultural Mortgage Corporation is 0000845877.

What is the business address of Federal Agricultural Mortgage Corporation as listed in the filing?

The business address of Federal Agricultural Mortgage Corporation is 1999 K STREET NW, 4TH FLOOR, WASHINGTON, DC 20006.

Filing Stats: 1,227 words · 5 min read · ~4 pages · Grade level 9.6 · Accepted 2024-02-23 08:02:47

Key Financial Figures

  • $1.40 — Common Stock. The quarterly dividend of $1.40 per share of common stock will be payab
  • $0.375 — red Stock "). The quarterly dividend of $0.375 per share of Series C Preferred Stock,
  • $0.35625 — per share of Series C Preferred Stock, $0.35625 per share of Series D Preferred Stock,
  • $0.359375 — per share of Series D Preferred Stock, $0.359375 per share of Series E Preferred Stock,
  • $0.328125 — per share of Series E Preferred Stock, $0.328125 per share of Series F Preferred Stock,
  • $0.3046875 — share of Series F Preferred Stock, and $0.3046875 per share of Series G Preferred Stock i
  • $25.00 — par value and liquidation preference of $25.00 per share. A copy of the press releas

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On February 23, 2024, the Federal Agricultural Mortgage Corporation (" Farmer Mac ") issued a press release to announce (1) its financial results for the fiscal quarter and year ended December 31, 2023 and (2) a conference call to discuss those results and Farmer Mac's Annual Report on Form 10-K for the fiscal year ended December 31, 2023. A copy of the press release is attached as Exhibit 99.1 and is incorporated by reference into this report. All references to www.farmermac.com in Exhibit 99.1 are inactive textual references only, and the information contained on that website is not incorporated by reference into this report. The information furnished in this Item 2.02, including Exhibit 99.1 , shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that Section, nor will any of such information or Exhibit be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended (the " Securities Act "), except as shall be expressly set forth by specific reference in such filing.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On February 23, 2024, Farmer Mac posted an investor slide presentation for equity investors to its website at www.farmermac.com under the tab "Investors — Events and Presentations." Farmer Mac expects to use the slide presentation in connection with future investor presentations to analysts and investors. The slide presentation is attached as Exhibit 99.2 and is incorporated by reference into this report. All references to www.farmermac.com in Exhibit 99.2 are inactive textual references only, and the information contained on that website is not incorporated by reference into this report. The information furnished in this Item 7.01, including Exhibit 99.2 , shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section, nor will any of such information or Exhibit be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act, except as shall be expressly set forth by specific reference in such filing.

01 Other Events

Item 8.01 Other Events. On February 23, 2024, Farmer Mac issued a press release to announce that its Board of Directors (" Board ") had declared a quarterly dividend on each of Farmer Mac's three classes of common stock – Class A Voting Common Stock, Class B Voting Common Stock, and Class C Non-Voting Common Stock. The quarterly dividend of $1.40 per share of common stock will be payable on March 28, 2024, to holders of record of Farmer Mac's common stock as of March 15, 2024. The Board also declared a dividend on each of Farmer Mac's five classes of preferred stock – 6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C (" Series C Preferred Stock "), 5.700% Non-Cumulative Preferred Stock, Series D (" Series D Preferred Stock "), 5.750% Non-Cumulative Preferred Stock, Series E (" Series E Preferred Stock "), 5.250% Non-Cumulative Preferred Stock, Series F (" Series F Preferred Stock "), and 4.875% Non-Cumulative Preferred Stock, Series G (" Series G Preferred Stock "). The quarterly dividend of $0.375 per share of Series C Preferred Stock, $0.35625 per share of Series D Preferred Stock, $0.359375 per share of Series E Preferred Stock, $0.328125 per share of Series F Preferred Stock, and $0.3046875 per share of Series G Preferred Stock is for the period from but not including January 17, 2024, to and including April 17, 2024. The dividend on each of the Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, and Series G Preferred Stock will be payable on April 17, 2024, to holders of record of those classes of preferred stock, respectively, as of April 1, 2024. Each share of Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, and Series G Preferred Stock has a par value and liquidation preference of $25.00 per share. A copy of the press release is attached to this report as Exhibit 99.1 and the portion of the press release included under the he

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release dated February 23, 2024 99.2 Equity investor slide presentation 104 Cover Page Inline Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document included as Exhibit 101

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. FEDERAL AGRICULTURAL MORTGAGE CORPORATION By: /s/ Stephen P. Mullery Name: Stephen P. Mullery Title: Executive Vice President – General Counsel Dated: February 23, 2024

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