Farmer Mac to redeem 2.4 million shares of series A preferred stock

By Taylor Fox

New York, Aug. 20 – Federal Agricultural Mortgage Corp. intends to notify holders of its 5.875% non-cumulative preferred stock, series A of the redemption of all of its outstanding 2.4 million shares of series A preferred stock, according to a news release.

The series A stock will be redeemed at a price of $25 per share, plus any declared and unpaid dividends through and including the redemption date of Sept. 19.

The redemption price will be paid on Sept. 21 as Sept. 19 is not a business day.

Farmer Mac is a Washington, D.C.-based lender for agricultural and rural communities.

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