Farmer Mac reports FY2023 core EPS $15.65 (+38% YoY); dividend raised 27% to $1.40/quarter

FEDERAL AGRICULTURAL MORTGAGE CORP

2023-FY EPS reported $15.81

Net interest income $327.5M (+21% YoY); record net effective spread $327.0M (+28% YoY).
Net income to common $172.8M vs $151.0M; diluted GAAP EPS $15.81 (+14%).
Quarterly common dividend raised to $1.40/share (27% increase), payable March 28, 2024.
Outstanding business volume $28.5B; Tier 1 Capital Ratio 15% as of Dec 31, 2023.
Preferred dividends declared on Series C-G; all amounts consistent with stated rates.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FEDERAL AGRICULTURAL MORTGAGE CORP reported financial results for the fiscal quarter and year ended December 31, 2023.

Period: the fiscal quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

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.

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Source: SEC EDGAR

accession 0000845877-24-000027

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