AGNC Investment Corp. Files 8-K on Financial Condition, Preferred Stock

TL;DR

**AGNC filed an 8-K on Jan 22, 2024, updating on financial condition and preferred stock details.**

AI Summary

AGNC Investment Corp. filed an 8-K on January 22, 2024, to report on its financial condition and operations. This filing specifically mentions various series of preferred stock, including the 7.000% Series C, 6.875% Series D, 6.500% Series E, 6.125% Series F, and 7.75% Series G, each represented by depositary shares. This matters to investors because it provides an update on the company's capital structure and ongoing financial reporting, which can influence dividend stability and overall company health.

Why It Matters

This filing confirms AGNC's ongoing compliance with SEC reporting requirements and provides transparency into its capital structure, which is crucial for investors assessing dividend reliability and risk.

Risk Assessment

Risk Level: low — This 8-K is a routine filing for reporting financial condition and does not indicate any immediate new risks or significant changes.

Analyst Insight

Investors should note this routine filing as confirmation of ongoing transparency and review AGNC's full financial statements when they become available to assess the detailed 'Results of Operations and Financial Condition' mentioned.

Key Numbers

• 7.000% — Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (interest rate for a class of preferred stock)
• 6.875% — Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (interest rate for a class of preferred stock)
• 6.500% — Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (interest rate for a class of preferred stock)
• 6.125% — Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (interest rate for a class of preferred stock)
• 7.75% — Series G Fixed-Rate Reset Cumulative Redeemable Preferred Stock (interest rate for a class of preferred stock)

Key Players & Entities

• AGNC Investment Corp. (company) — the registrant filing the 8-K
• Delaware (company) — state of incorporation for AGNC Investment Corp.
• 7373 Wisconsin Avenue, 22nd Floor, Bethesda, Maryland 20814 (company) — principal executive offices of AGNC Investment Corp.
• 001-34057 (dollar_amount) — Commission File Number for AGNC Investment Corp.
• 26-1701984 (dollar_amount) — I.R.S. Employer Identification No. for AGNC Investment Corp.

FAQ

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share AGNC The Nasdaq Global Select
• $1.00 — ncome for the fourth quarter of 2023 of $1.00 per share of common stock, comprised of
• $0.57 — per share of common stock, comprised of $0.57 net income per common share and $0.43 o
• $0.43 — f $0.57 net income per common share and $0.43 other comprehensive income ("OCI") per
• $8.70 — hrough OCI; Tangible net book value of $8.70 per share of common stock as of Decembe
• $526 m — ecember 31, 2023, which amount excludes $526 million, or $0.76 per common share, of go
• $0.76 — which amount excludes $526 million, or $0.76 per common share, of goodwill as of Dec
• $60.2 billion — , of goodwill as of December 31, 2023; $60.2 billion fair value of its investment portfolio
• $0.36 — 1% for the fourth quarter, comprised of $0.36 dividend per share of common stock decl
• $0.62 — declared during the fourth quarter and $0.62 increase in tangible net book value per
• $5.1 billion — e; Cash and unencumbered Agency MBS of $5.1 billion as of December 31, 2023; and Issued 46
• $376 million — he-Market Offerings for net proceeds of $376 million. Pursuant to the rules and regulations

Filing Documents

• agnc-20240122.htm (8-K) — 43KB
• agnc8kexhibit991123123.htm (EX-99.1) — 496KB
• agnc-20240122_g1.jpg (GRAPHIC) — 715KB
• agnclogowhitespacinghiresa.jpg (GRAPHIC) — 715KB
• 0001423689-24-000003.txt ( ) — 3431KB
• agnc-20240122.xsd (EX-101.SCH) — 5KB
• agnc-20240122_def.xml (EX-101.DEF) — 20KB
• agnc-20240122_lab.xml (EX-101.LAB) — 44KB
• agnc-20240122_pre.xml (EX-101.PRE) — 20KB
• agnc-20240122_htm.xml (XML) — 8KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On January 22, 2024, AGNC Investment Corp. issued a press release announcing its financial results for the quarter ended December 31, 2023. The text of the aforementioned press release is included as exhibit 99.1 to this Form 8-K. The press release included the following financial information for the quarter: Total comprehensive income for the fourth quarter of 2023 of $1.00 per share of common stock, comprised of $0.57 net income per common share and $0.43 other comprehensive income ("OCI") per common share on investments marked-to-market through OCI; Tangible net book value of $8.70 per share of common stock as of December 31, 2023, which amount excludes $526 million, or $0.76 per common share, of goodwill as of December 31, 2023; $60.2 billion fair value of its investment portfolio as of December 31, 2023, inclusive of net forward purchases and sales of agency mortgage-backed securities in the "to-be-announced" ("TBA") market; Tangible net book value "at risk" leverage ratio was 7.0x as of December 31, 2023. Tangible net book value "at risk" leverage represents the ratio of the amount outstanding under its investment securities' repurchase agreements, debt of consolidated variable interest entities, net TBA position (at cost) and net receivable / payable for unsettled investment securities outstanding to the sum of total stockholders' equity adjusted to exclude goodwill as of period end (repurchase agreements used to fund U.S. Treasury securities are excluded from the Company's leverage measurement); Economic return on tangible common equity of 12.1% for the fourth quarter, comprised of $0.36 dividend per share of common stock declared during the fourth quarter and $0.62 increase in tangible net book value per common share; Cash and unencumbered Agency MBS of $5.1 billion as of December 31, 2023; and Issued 46.3 million shares of common equity through At-the-Market Offerings for net proceeds of $376

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (a) None. (b) None. (c) Exhibits Exhibit No. Description 99.1 Press Release dated January 22, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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 hereunto duly authorized. AGNC I NVESTMENT C ORP . Dated: January 22, 2024 By: /s/ B ERNICE E. B ELL Bernice E. Bell Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR