Monthly Dividend Stock | NASDAQ: AGNC

Founded in 2008, AGNC Investment Corp. is a Real Estate Investment Trust that is internally-managed and invests predominantly in agency mortgage backed securities (agency MBS). This is financed primarily through structured repurchase agreements using leverage.

  • Market Capitalization: $8.577bn
  • Dividend Yield: 8.81% pa (October, 21)

The stock is listed on the NASDAQ Global Select Market under the ticker AGNC, and currently pays monthly dividends to stockholders.

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Business Overview

AGNC’s main objective is to provide their stockholders with risk-adjusted returns on their investment via net value asset accretion and attractive monthly dividends.

Their investment assets generate income from interest earned which is before associated borrowing and hedging costs, along with net realised gains and losses on their other activities.

By utilising an active portfolio management philosophy, they aim to preserve net asset value over a broad range of market scenarios.

AGNC Investment Corp is a monthly dividend paying REiT stock that investment mostly in federal agency backed mortgage securities

Management

Peter J. Frederico is Director, President and Chief Executive Officer of AGNC Investment Corp.  and has held this position since March 2018.  He has been with the organisation since June 2011 in various other roles.

Prior to joining AGNC investment corp. Mr Frederico was with Freddie Mac’s where he was responsible for managing the company’s investment activities for its retained portfolio, together with development, implementation and management of risk mitigation strategies.  He was responsible for the organisations $1.2 trillion interest rate derivative portfolio and short and long term debt issuance programmes and held a number of other roles within Freddie Mac’s since joining in 1988.

Bernice E. Bell is Senior Vice President (since 2016) and Chief Financial Officer (since March 2018).  She holds Batchelor of Science degrees in Accounting and finance from the University of Maryland and is a Certified Public Accountant.

Prior to her current roles, Ms Bell served as Chief Accounting Officer, Vice president and Controller since joining in December 2015.

Ms Bell held various roles at American Capital Ltd until December 2009, and within privately held companies until June 2003, along with roles in Price Waterhouse LLP from July 1994 to June 1998.

Christopher J. Kuehl is Executive Vice President and Chief Investment officer.  Mr Kuehl has held the position of Chief Investment Officer since July 2021 and as Executive Vice President since November 2016.  He was Senior Vice President from March 2012 to October 2016.

He previously served as Vice President of Mortgage Investments and Structuring within Freddie Mac where he was responsible for directing purchases, sales, and structuring activities for all MBS products.  Prior to this, he was a Portfolio Manager with Telebank/Etrade Bank.

Aaron J. Pas is Senior Vice President and has held this position since October 2016.  Prior to this he was Senior Vice President of MTGE Investment Corp. And served with the organisation since March 2011.  He also held the position of Director of Non-Agency Portfolio Management at Freddie Mac and holds a Batchelor of Science degree in Business from Washington University in St Louis and is a CFA Charterholder.

Kenneth L. Pollack is Senior Vice President, General Counsel, Chief Compliance Officer and Secretary and has served AGNC in these roles since July 2016.

Previous to joining AGNC, Mr Pollack was Senior Vice President and Deputy General Counsel of Americal Capital Ltd.  During his time at American Capital, he served as lead counsel for their portfolio investment activities in the areas of Real Estate, US. Buyouts, US Sponsor Finance, International Power, Special Situations, operations and Financial Restructuring.   Prior to this he served as an associate at Arnold Porter.

Mr Pollack is a member of the Order of the Coif at Vanderbilt Law School, and has a Batchelor of Arts, cum laude, in International Relations from Tufts University.  Mr Pollack is also a member of the Maryland and District of Columbia Bars.

Stock Price and Dividends

At the time of writing, AGNC’s stock price has been relatively steady, with a 52-week range of $13.71 to $18.84. Currently, the stock pays an annual yield of 8.81% p.a., with monthly dividend distributions.

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