Farmer Mac (Federal Agricultural Mortgage-AGM) announced after the market close today that they were calling for redemption their 6% fixed to floating (AGM-C) perpetual preferred shares–the effective date is 7/18/2024. The issue was moving to floating on that date.
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9/26/2024
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For those that are interested in this company they still have the AGM+E which is a 5.75% and not callable until JULY of 2025 trading at $23.18 which gives you a very nice yield for a well run conservative company. I own a large position of it.
Chuck P – yes I own that one–a very well run company.