Farmer mac reports 2021 results

Washington, feb. 28, 2022 /prnewswire/ -- the federal agricultural mortgage corporation (farmer mac; nyse: agm and agm.a), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural america, today announced its results for the fiscal quarter and year ended december 31, 2021. full year 2021 and recent highlights net income of $107.6 million compared to $89.2 million in 2020, reflecting a 20% year-over-year increase core earnings (a non-gaap measure) increased 13% to $113.6 million from $100.6 million in the same period last year on august 18, 2021, completed strategic acquisition that expanded the internal loan servicing function and acquired the loan servicing rights for a sizeable portion of our farm & ranch loan and usda guaranteed securities portfolios on october 14, 2021, closed on a newly-designed structured securitization transaction involving approximately $300 million of agricultural mortgage loans  on february 23, 2022, farmer mac's board of directors raised the quarterly dividend on common stock by 8% to $0.95 per share, the eleventh consecutive annual increase "farmer mac finished 2021 with record financial results, capping off another milestone year for the company," said brad nordholm, president & chief executive officer.
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