- Farmer Mac is a government-sponsored enterprise that was created by Congress to increase access to and reduce the cost of capital for the benefit of American agriculture and rural communities.
- The company’s corporate headquarters is in Washington, D.C.
- Under Farmer Mac’s congressional charter, its official name is the Federal Agricultural Mortgage Corporation. However, the Board of Directors has authorized the corporation to conduct business as Farmer Mac.
- Farmer Mac is regulated by the Farm Credit Administration (FCA), an independent agency in the executive branch of the U.S. government. The FCA, acting through the Office of Secondary Market Oversight (OSMO), has general regulatory and enforcement authority over Farmer Mac and is responsible for an annual safety and soundness examination of Farmer Mac. Farmer Mac is required to file quarterly reports on its financial condition with the FCA and is also required to comply with the periodic reporting requirements of the Securities Exchange Act of 1934.
- No. Farmer Mac is an instrumentality of the United States that was established under federal legislation first enacted in 1988 and amended most recently in 2008. The federal legislation is named Title VIII of the Farm Credit Act of 1971 (12 U.S.C. §§ 2279aa et seq.), which is sometimes referred to as Farmer Mac’s charter. Farmer Mac is a government-sponsored enterprise (GSE) by virtue of the status conferred by its charter.
- Due to Farmer Mac’s GSE status, its debt obligations are traded in the “U.S. agency debt” sector of the capital markets.
- A GSE is a privately held corporation created by the U.S. Congress to reduce the cost of capital for certain borrowing sectors of the economy.
- Yes. Farmer Mac is an institution of the FCS, which is composed of the banks, associations, and related entities, including Farmer Mac and its subsidiaries, regulated by the FCA. Although Farmer Mac is an institution of the FCS, it is not liable for any debt or obligation of any other institution of the FCS. None of the FCA, the FCS, or any other individual institution of the FCS is liable for any debt or obligation of Farmer Mac or its subsidiaries.
- Purpose: Farmer Mac, Fannie Mae, and Freddie Mac were all created by Congress to support the secondary loan markets. While Fannie Mae and Freddie Mac provide liquidity to residential loans, Farmer Mac provides liquidity to agricultural and rural infrastructure loans.
- Regulation: The Federal Housing Finance Agency provides regulatory oversight of Fannie Mae and Freddie Mac, while the Farm Credit Administration, acting through the Office of Secondary Market Oversight (OSMO), is responsible for the examination and supervision of Farmer Mac.
- Congressional Oversight: Farmer Mac is overseen by the Agricultural Committees in the House of Representatives and the Senate, while Fannie Mae and Freddie Mac are overseen by the Senate and House Finance Committees.
- No. Farmer Mac can only provide liquidity in the secondary markets. Please visit our Contact page to reach out to a Farmer Mac representative.
- Farmer Mac trades on the New York Stock Exchange under the symbols AGM and AGM.A.
- Class A voting common stock. Farmer Mac’s charter restricts ownership to banks, insurance companies, and other financial institutions or similar entities that are not institutions of the Farm Credit System (FCS). Farmer Mac’s Class A voting common stock is listed on the New York Stock Exchange (NYSE) under the symbol AGM.A.
- Class B voting common stock. Farmer Mac’s charter restricts ownership of Farmer Mac’s Class B voting common stock to Farm Credit System (FCS) institutions. Shares are not listed or quoted on any exchange.
- Class C non-voting common stock. Farmer Mac’s charter does not impose ownership restrictions on Farmer Mac’s Class C non-voting common stock. Farmer Mac’s Class C non-voting common stock is listed on the New York Stock Exchange (NYSE) under the symbol AGM.
- Yes. The quarterly dividend on Farmer Mac’s common stock is currently $1.40 per share. Dividends are usually paid in March, June, September, and December of each year, with the payment on the last day of the month. Dividends may be paid on Farmer Mac’s common stock only when, as, and if declared by Farmer Mac’s board of directors in its sole discretion, subject to compliance with applicable capital requirements and the payment of dividends on any outstanding preferred stock issued by Farmer Mac.
- No, Farmer Mac does not offer a direct stock purchase or dividend reinvestment plan.
- Series C Fixed-to-Floating Non-Cumulative Preferred Stock: Series C 6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock is listed on the New York Stock Exchange under the symbol AGM.PR.C.
- Series D Non-Cumulative Preferred Stock: Series D 5.70% Non-Cumulative Preferred Stock is listed on the New York Stock Exchange under the symbol AGM.PR.D.
- Series E Non-Cumulative Preferred Stock: Series E 5.75% Non-Cumulative Preferred Stock is listed on the New York Stock Exchange under the symbol AGM.PR.E.
- Series F Non-Cumulative Preferred Stock: Series F 5.25% Non-Cumulative Preferred Stock is listed on the New York Stock Exchange under the symbol AGM.PR.F.
- Series G Non-Cumulative Preferred Stock: Series G 4.875% Non-Cumulative Preferred Stock is listed on the New York Stock Exchange under the symbol AGM.PR.G.
- Equiniti Trust Company, LLC (EQ)
Phone: (800) 937-5449
Email: helpast@equiniti.com
Website: https://equiniti.com/us/ast-access/
Mail Inquiries:
EQ
Attn: Farmer Mac
P.O. Box 500
Newark, NJ 07101
- For registered shares through EQ, each of these requests can be completed by contacting EQ via the information above. For shares owned through a brokerage, please contact the brokerage.
- No. Farmer Mac issues its debt and equity securities through the capital markets.
- No. The U.S. government does not guarantee payments due on Farmer Mac’s debt or equity securities.
- Yes. Farmer Mac is authorized to borrow up to $1.5 billion from the U.S. Treasury through the issuance of debt obligations to the U.S. Treasury. Any funds borrowed from the U.S. Treasury may be used solely for the purpose of fulfilling Farmer Mac’s guarantee obligations.
- No. Farmer Mac’s GSE status allows it to receive continuous and cost-effective access to the U.S. Agency debt markets without a credit rating.
- Investors’ investment policies often exempt GSEs and instrumentalities of the United States from rating requirements.
- Please visit the Universal Debt Funding Programs and Farmer Mac Retail Bonds pages to search for specific bonds.
- Farmer Mac debt securities may be purchased from one of our approved dealers. Please visit our Approved Dealers page for more information.
- Farmer Mac’s debt securities are fully taxable.
- Please visit our Debt Activity page for more information on Farmer Mac issuances.
- You may view our Debt Investor Presentation or Debt Investor Fact Sheet online or request copies.
- Please visit our Events page.
- Farmer Mac files annual, quarterly, and current reports, proxy statements, and other information with the SEC. You may access our financial information online or request copies.
- Please refer to the “Information Request” tab on the Investors portion of the corporate website.
- You may view our annual report and proxy statement online or request copies.
- Please contact Jalpa Nazareth at jnazareth@farmermac.com or (202) 872-5570.
- Please contact Robert Owens at rowens@farmermac.com or (202) 872-5561.
- Please visit our Contact page for more information.