AGNC Investment Corp. (NASDAQ: AGNC) announced a cash dividend of $0.12 per share of common stock for October 2022. The dividend will be paid to common shareholders of record on October 31, 2022 on November 9, 2022.
Given recent market volatility, the Company also provided early forecasts for the following financial metrics for the third quarter of 2022:
After deducting common and preferred stock dividends made until September 30, 2022, AGNC’s tangible net book value per common share was anticipated to be between $9.06 and $9.10 per share as of September 30, 2022.
AGNC’s total loss per common share for the quarter ending September 30, 2022 was projected to be between $1.99 and $2.03 per share.
AGNC held about $3.6 billion in cash and unencumbered Agency MBS as of September 30, 2022, which included approximately $0.8 billion at the Company’s captive broker-dealer Bethesda Assets and excluded unencumbered CRT and non-Agency securities. As of September 30, 2022, cash and unencumbered Agency MBS comprised roughly 54% of the Company’s tangible equity, virtually unchanged from June 30, 2022.
AGNC’s net spread and dollar roll income was projected to be between $0.82 and $0.86 per common share for the quarter ended September 30, 2022, minus an estimated $0.03 per common share “catch-up” premium amortization benefit.
As previously stated, the Company will release comprehensive financial results for the third quarter of 2022 on October 24, 2022. The financial projections presented above reflect Company management’s opinions and assumptions based on information currently available to them in connection with the preparation of the Company’s financial statements as of and for the quarter ended September 30, 2022. Management has not yet completed processes to verify the completeness and accuracy of this information, which might result in major modifications when reflected in the Company’s actual reported financial results. Furthermore, this information is unaudited and has not been validated or reviewed by any other party, including the Company’s independent auditors. Estimates are subject to inherent risks, and investors should not place undue reliance on them.
