Federal Agricultural Mortgage Corporation
AGM-PD
New York Stock Exchange21.11
USD
+0.11
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Federal Agricultural Mortgage Corporation
AGM-PD
(New York Stock Exchange)
Recent
price
21.11
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- -
div
yld
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ROIC.AI
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- Business
- The Federal Agricultural Mortgage Corporation, widely known as Farmer Mac, functions as a federally chartered corporation providing a robust secondary market for various loans extended to borrowers throughout the United States. This government-sponsored enterprise (GSE) enhances the ability of agricultural and rural lenders to offer competitive financing solutions. Its operations are strategically structured across distinct lines of business: Agricultural Finance and Rural Infrastructure. The Agricultural Finance division encompasses both the Farm & Ranch segment and the Corporate AgFinance segment. The Farm & Ranch activities involve acquiring and holding qualified mortgage loans secured by first liens on agricultural real estate, facilitating the securitization of these loans, and guaranteeing the timely payment of principal and interest on securities derived from pools of such mortgage loans. This segment also extends long-term standby purchase commitments for designated eligible mortgage assets. The Corporate AgFinance segment focuses on broader agricultural financing needs, including agribusinesses. The Rural Infrastructure division comprises the Power & Utilities, Broadband Infrastructure, and Renewable Energy segments. The Power & Utilities segment acquires and guarantees securities supported by loans made to rural electric and telecommunications cooperatives for their essential facilities, alongside purchasing eligible rural utilities loans and offering guarantees for related securities and standby purchase commitments for pools of these loans. The corporation has recently expanded its strategic focus and offerings within the burgeoning Broadband Infrastructure and Renewable Energy sectors. This strategic diversification has contributed to record business volumes and consistent financial performance, including a fourteenth consecutive annual increase in its quarterly common stock dividend as of early 2025. Farmer Mac generates revenue primarily through net interest income, representing the spread earned on its asset portfolio, and from fees associated with its guarantees and commitments. Established by Congress in 1987 and headquartered in Washington, District of Columbia, the corporation plays a vital role in providing liquidity and stability to America's agricultural credit and rural infrastructure markets.