AGNC reports 2nd quarter earnings. Warning: Dividend payout ratio over 100%.

 American Capital Agency Corp. reported 2nd quarter earnings today.  I will provide analysis tomorrow.  The dividend payout ratio is over 100% ($1.40 dividend / $1.36 net earnings).  That isn't good news.  I wouldn't buy this over-leveraged mortgage REIT.  Here are the highlights. 

(RTTNews) – American Capital Agency Corp. (AGNC: News ) reported net income for the second-quarter of $177.8 million or $1.36 per share, compared to $36.86 million or $1.23 million in the comparable quarter last year.

Net-interest income for the second quarter rose to $200.9 million from $33.2 million a year ago, while total other loss was $6.1 million, compared to a total other income of $7.7 million in the prior year quarter.

Further, the company's board of directors declared a second quarter dividend of $1.40 per share payable on July 27, 2011, to stockholders of record as of June 23, 2011.

 
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Published in: on July 27, 2011 at 2:17 pm  Leave a Comment  

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