Boston, MA 04/30/2014 (wallstreetpr) – One of the leading real estate investment trust, American Capital Agency Corp. (NASDAQ:AGNC) operates towards investments in securities and collateral mortgage obligations. These include principal payments guaranteed by the U.S. Government Agency. It has recently released its 1Q2014 result which showcased stable growth and increased performance as compared to year 2013, thereby building platform for future growth.
Release of 1Q2014 Result
American Capital Agency Corp. (NASDAQ:AGNC) recently revealed its 1Q2014 results. It registered a comprehensive income of $243 million and net book value of $24.49 per common share. The cumulative effect of economic return for the first quarter along with the change in net value accounted for a gain of $1.21 per common share. The investment portfolio accounted $70.5 billion of agency MBS and Net TBA mortgage portfolio as $14.1 billion approximately along with collateralized mortgage as obligations as $1.7 billion. American Capital Agency Corp. (NASDAQ:AGNC) registered a net taxable income as $0.88 higher than the GAAP net loss per common share.
The Board of Director, on March 20, 2014 also announced the declaration of dividends on AGNC’s common stock. The dividend to be distributed equaled to $0.65 per share exactly similar to the previous quarter. It was paid on April 28, 2014 to all stockholders of record as of March 31, 2014. Since May 2008, AGNC has paid $4.4 billion dividends in total as common dividends by the end of 1Q2014, American Capital Agency estimated $146 million as its estimated undistributed income. After completion of 1Q2014, $49.6 billion of the repurchase agreements were used for financing acquisition of agency securities.
Chairman & CEO of AGNC, Makon Wilkus, commented that despite having a challenging year, the execution of strategies has led to driving growth in the first quarter. The strategies included steps from reposition the portfolio to shrinking the capital base via repurchase of the common stock of the company. After attaining the desired stability, American Capital Agency Corp. (NASDAQ:AGNC) is all set to conquer more battle for robust growth.
