Farmer Mac to Issue $100 Million in Preferred Stock
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 12 2026
0mins
Source: PRnewswire
- Issuance Size: Farmer Mac has announced a public offering of $100 million in 6.875% non-cumulative perpetual preferred stock, expected to close on May 19, 2026, with proceeds aimed at general corporate purposes to enhance the company's capital structure.
- Preferred Stock Features: The new preferred stock will be issued at a par value of $25 per share with a fixed annual dividend rate of 6.875% and no maturity date, allowing Farmer Mac the option to redeem the stock after July 17, 2031, providing flexible capital management options.
- Underwriting Arrangement: Morgan Stanley serves as the Sole Book-Running Manager for this transaction, with RBC Capital Markets and Wells Fargo Securities as co-managers, indicating strong market support for Farmer Mac's financing needs.
- Market Positioning: This preferred stock offering is made pursuant to an exemption from registration under the Securities Act of 1933, aimed at providing liquidity for American agriculture and rural infrastructure, further solidifying Farmer Mac's leadership position in the agricultural finance market.
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Analyst Views on AGM
Wall Street analysts forecast AGM stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 182.110
Low
219.00
Averages
219.00
High
219.00
Current: 182.110
Low
219.00
Averages
219.00
High
219.00
About AGM
Federal Agricultural Mortgage Corporation is a stockholder-owned, federally chartered corporation that combines private capital and public sponsorship to serve a public purpose. The Company’s secondary market provides liquidity to its agricultural and infrastructure businesses, supporting rural America. The Company’s segments include Farm & Ranch, Corporate AgFinance, Power & Utilities, Broadband Infrastructure, Renewable Energy, Funding, and Investments. The Farm & Ranch segment includes the USDA securities portfolio, Farm & Ranch loans, and AgVantage securities. The Corporate AgFinance segment includes loans and AgVantage securities to larger and more complex farming operations, agribusinesses focused on food and fiber processing, and other supply chain production. The Power & Utilities segment includes loans to rural electric generation and transmission cooperatives and distribution cooperatives, as well as AgVantage securities secured by those types of loans.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Performance Review: During Nordholm's tenure as CEO since October 2018, the company doubled its annual earnings and grew its business volume to over $34 billion, demonstrating strong financial performance and business diversification that laid a solid foundation for future growth.
- Strategic Vision: Carpenter has played a key role in driving the company's strategy, business development, and portfolio diversification, particularly in emerging areas like renewable energy and broadband infrastructure, enhancing the company's impact in rural markets.
- Future Outlook: Carpenter expressed commitment to carrying forward Nordholm's leadership legacy while focusing on the company's mission and market opportunities, aiming to drive continued growth in serving customers and creating shareholder value.
See More
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- Leadership Transition: Farmer Mac announces that Zachary N. Carpenter, currently President and COO, will assume the role of CEO effective July 1, 2026, succeeding Bradford T. Nordholm, marking a seamless leadership transition for the company.
- Strong Financial Performance: Under Nordholm's leadership since 2018, Farmer Mac doubled its annual earnings and grew its business volume to over $34 billion, showcasing robust financial performance and diversification that sets a solid foundation for the new CEO.
- Strategic Vision Continuity: Since joining Farmer Mac in 2019, Carpenter has played a key role in the company's strategy and business development, particularly in expanding into emerging sectors like renewable energy and broadband infrastructure, ensuring the company's competitiveness in future markets.
- Mission-Driven Growth: Farmer Mac's mission is to provide liquidity for American agriculture and rural infrastructure, and Carpenter is committed to advancing this mission, enhancing the company's impact and value creation in rural markets.
See More
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- Dividend Announcement: The board of Farmer Mac has declared a dividend of $0.2769097 per share on its newly issued 6.875% Non-Cumulative Preferred Stock, Series I, covering the period from May 19 to July 17, 2026, reflecting the company's commitment to shareholder returns.
- Payment Date: This dividend will be payable on July 17, 2026, to holders of record as of July 1, 2026, ensuring timely returns for investors and enhancing shareholder confidence.
- Historical Dividends: Farmer Mac previously announced dividends on its three classes of common stock and five other series of preferred stock, indicating stability and consistency in capital management and shareholder returns.
- Company Mission: Farmer Mac is focused on increasing access to financing to support liquidity in American agriculture and rural infrastructure, highlighting its strategic importance in fostering rural economic development and innovation.
See More
Farmer Mac Declares Dividend on Preferred Stock
- Dividend Announcement: Farmer Mac's board has declared a dividend of $0.2769097 per share on its recently issued 6.875% Non-Cumulative Preferred Stock, Series I, covering the period from May 19, 2026, to July 17, 2026, reflecting the company's commitment to shareholder returns.
- Payment Date: This dividend will be payable on July 17, 2026, to holders of record as of July 1, 2026, ensuring shareholder earnings at a critical time and enhancing investor confidence.
- Historical Dividends: The company previously announced dividends on its three classes of common stock and five series of preferred stock on May 13, 2026, indicating stability and consistency in capital management and shareholder returns.
- Corporate Mission: Farmer Mac is dedicated to increasing financing accessibility to support liquidity for American agriculture and rural infrastructure, highlighting its strategic importance in fostering growth and innovation in rural economies.
See More
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- Dividend Yield: The forward yield of 3.74% reflects the company's attractiveness in the current market environment, potentially boosting shareholder confidence and encouraging long-term stock holding.
- Payment Schedule: The dividend is payable on June 30, with a record date of June 15 and an ex-dividend date also on June 15, providing investors with a clear timeline that aids in their investment decisions.
- Financing Plan: AGM plans to raise $100 million through a 6.875% preferred stock offering, a move that will strengthen the company's capital structure and support future business expansion.
See More
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- Dividend Declaration: Farmer Mac's board has declared a second quarter dividend of $1.60 per share for its three classes of common stock, demonstrating the company's ongoing profitability and commitment to shareholder returns.
- Preferred Stock Dividends: Additionally, the board announced quarterly dividends for five classes of preferred stock, including $0.35625 per share for 5.700% Non-Cumulative Preferred Stock Series D, reflecting the company's stability in its diversified financing structure.
- Payment Dates: The common stock dividend will be payable on June 30, 2026, while the preferred stock dividends are set for July 17, 2026, ensuring timely returns for shareholders and enhancing investor confidence.
- Corporate Mission: Farmer Mac is dedicated to increasing financing accessibility for American agriculture and rural infrastructure, providing liquidity support that fosters vitality and growth in rural economies, showcasing its unique position in agricultural finance.
See More
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- Leadership Transition: Farmer Mac announced that Zachary N. Carpenter, currently President and COO, will assume the CEO role on July 1, 2026, succeeding Bradford T. Nordholm, who will serve as Senior Advisor until September 30, 2026, ensuring continuity and stability in leadership.
- Performance Review: During Nordholm's tenure as CEO since October 2018, the company doubled its annual earnings and grew its business volume to over $34 billion, demonstrating strong financial performance and business diversification that laid a solid foundation for future growth.
- Strategic Vision: Carpenter has played a key role in driving the company's strategy, business development, and portfolio diversification, particularly in emerging areas like renewable energy and broadband infrastructure, enhancing the company's impact in rural markets.
- Future Outlook: Carpenter expressed commitment to carrying forward Nordholm's leadership legacy while focusing on the company's mission and market opportunities, aiming to drive continued growth in serving customers and creating shareholder value.
See More
Farmer Mac Announces CEO Transition Plan Effective July 1, 2026
- Leadership Transition: Farmer Mac announces that Zachary N. Carpenter, currently President and COO, will assume the role of CEO effective July 1, 2026, succeeding Bradford T. Nordholm, marking a seamless leadership transition for the company.
- Strong Financial Performance: Under Nordholm's leadership since 2018, Farmer Mac doubled its annual earnings and grew its business volume to over $34 billion, showcasing robust financial performance and diversification that sets a solid foundation for the new CEO.
- Strategic Vision Continuity: Since joining Farmer Mac in 2019, Carpenter has played a key role in the company's strategy and business development, particularly in expanding into emerging sectors like renewable energy and broadband infrastructure, ensuring the company's competitiveness in future markets.
- Mission-Driven Growth: Farmer Mac's mission is to provide liquidity for American agriculture and rural infrastructure, and Carpenter is committed to advancing this mission, enhancing the company's impact and value creation in rural markets.
See More
Farmer Mac Declares Dividend on Series I Preferred Stock
- Dividend Announcement: The board of Farmer Mac has declared a dividend of $0.2769097 per share on its newly issued 6.875% Non-Cumulative Preferred Stock, Series I, covering the period from May 19 to July 17, 2026, reflecting the company's commitment to shareholder returns.
- Payment Date: This dividend will be payable on July 17, 2026, to holders of record as of July 1, 2026, ensuring timely returns for investors and enhancing shareholder confidence.
- Historical Dividends: Farmer Mac previously announced dividends on its three classes of common stock and five other series of preferred stock, indicating stability and consistency in capital management and shareholder returns.
- Company Mission: Farmer Mac is focused on increasing access to financing to support liquidity in American agriculture and rural infrastructure, highlighting its strategic importance in fostering rural economic development and innovation.
See More
Farmer Mac Declares Dividend on Preferred Stock
- Dividend Announcement: Farmer Mac's board has declared a dividend of $0.2769097 per share on its recently issued 6.875% Non-Cumulative Preferred Stock, Series I, covering the period from May 19, 2026, to July 17, 2026, reflecting the company's commitment to shareholder returns.
- Payment Date: This dividend will be payable on July 17, 2026, to holders of record as of July 1, 2026, ensuring shareholder earnings at a critical time and enhancing investor confidence.
- Historical Dividends: The company previously announced dividends on its three classes of common stock and five series of preferred stock on May 13, 2026, indicating stability and consistency in capital management and shareholder returns.
- Corporate Mission: Farmer Mac is dedicated to increasing financing accessibility to support liquidity for American agriculture and rural infrastructure, highlighting its strategic importance in fostering growth and innovation in rural economies.
See More
Federal Agricultural Mortgage Announces Quarterly Dividend of $1.60
- Quarterly Dividend Announcement: Federal Agricultural Mortgage Corporation (AGM) declares a quarterly dividend of $1.60 per share, consistent with previous distributions, indicating stable cash flow and profitability, which is likely to attract more investor interest.
- Dividend Yield: The forward yield of 3.74% reflects the company's attractiveness in the current market environment, potentially boosting shareholder confidence and encouraging long-term stock holding.
- Payment Schedule: The dividend is payable on June 30, with a record date of June 15 and an ex-dividend date also on June 15, providing investors with a clear timeline that aids in their investment decisions.
- Financing Plan: AGM plans to raise $100 million through a 6.875% preferred stock offering, a move that will strengthen the company's capital structure and support future business expansion.
See More
Farmer Mac Declares Second Quarter Dividend
- Dividend Declaration: Farmer Mac's board has declared a second quarter dividend of $1.60 per share for its three classes of common stock, demonstrating the company's ongoing profitability and commitment to shareholder returns.
- Preferred Stock Dividends: Additionally, the board announced quarterly dividends for five classes of preferred stock, including $0.35625 per share for 5.700% Non-Cumulative Preferred Stock Series D, reflecting the company's stability in its diversified financing structure.
- Payment Dates: The common stock dividend will be payable on June 30, 2026, while the preferred stock dividends are set for July 17, 2026, ensuring timely returns for shareholders and enhancing investor confidence.
- Corporate Mission: Farmer Mac is dedicated to increasing financing accessibility for American agriculture and rural infrastructure, providing liquidity support that fosters vitality and growth in rural economies, showcasing its unique position in agricultural finance.
See More
