In trading on Wednesday, Federal Agricultural Mortgage Corp’s 5.25% Non-Cumulative Preferred Stock, Series F (Symbol: AGM.PRF), yielded over 7%, with shares available for as low as $18.70. This yield surpasses the average of 6.63% for the “Financial” preferred stock category, as reported by Preferred Stock Channel. AGM.PRF is currently trading at a 24.08% discount to its liquidation preference, compared to the category average of 13.00%.
On the same day, AGM.PRF saw a gain of about 1%, while the common shares (Symbol: AGM) remained flat. Investors should be aware that these preferred shares are non-cumulative, meaning missed dividend payments do not accumulate for payout before common dividends resume.
