Gold prices set for weekly drop as strong dollar weighs; Trump tariffs in focus
AGNC Investment Corp. (NASDAQ:AGNC), a $7.63 billion market cap REIT currently trading at $8.34 per share, announced the results of its Annual Meeting of Stockholders held on Thursday, where several key proposals were voted upon, including the election of directors and an amendment to increase the number of authorized shares of common stock. According to InvestingPro data, the company maintains an impressive 17.27% dividend yield and has consistently paid dividends for 18 consecutive years.
The company reported that eight director nominees were elected to serve a one-year term. The nominees included Donna J. Blank, Peter J. Federico, John D. Fisk, Andrew A. Johnson, Jr., Gary D. Kain, Prue B. Larocca, Paul E. Mullings, and Frances (BCBA:BBARm) R. Spark. The election results showed significant support for each candidate, with a majority of votes cast in favor.
In a significant corporate development, shareholders approved an amendment to AGNC’s Amended and Restated Certificate of Incorporation, allowing for an increase in authorized common stock from 1.5 billion to 2.25 billion shares. The proposal received overwhelming support with more than 553 million votes for the amendment, against 62.8 million, and 11.9 million abstentions. InvestingPro analysis suggests the stock is currently undervalued, trading at 0.94 times book value, though investors should note that short-term obligations exceed liquid assets.
Additionally, the stockholders expressed their approval on an advisory basis for the company’s executive compensation resolution. The advisory vote is a common practice allowing shareholders to voice their opinion on executive pay packages, although the vote is non-binding.
The appointment of Ernst & Young LLP as AGNC’s independent public accountant for the fiscal year ending December 31, 2025, was also ratified by the shareholders with a clear majority of the votes.
AGNC Investment Corp., headquartered in Bethesda, Maryland, is a real estate investment trust specializing in mortgage-backed securities. The company’s business address and telephone number remain unchanged, as noted in the press release statement.
This news comes as AGNC continues to navigate the financial markets, with the increased share authorization potentially providing the company with greater flexibility for future financing and corporate actions. For deeper insights into AGNC’s financial health and future prospects, InvestingPro subscribers can access comprehensive analysis, including 8 additional ProTips and detailed valuation metrics in the Pro Research Report, available exclusively to subscribers.
In other recent news, AGNC Investment Corp. announced its fourth-quarter 2024 earnings, reporting a comprehensive loss of $0.11 per share, missing the expected earnings per share (EPS) of $0.42 with an actual EPS of $0.37. Despite this, the company’s revenue exceeded expectations, reaching $856 million compared to the forecasted $805.34 million. Additionally, AGNC Investment Corp. declared monthly dividends of $0.12 per share for February and March 2025, continuing its history of providing consistent income to shareholders. In other developments, Morris A. Davis resigned from the board of directors to join the White House Council of Economic Advisers, leading to a reduction in board size. Executive compensation changes were also announced, including a revised employment agreement for Christopher J. Kuehl, Senior Vice President, Head of Investment Research and Strategy, with adjusted bonus and incentive award structures. Furthermore, AGNC’s management highlighted a positive outlook for agency mortgage-backed securities in 2025, expecting stable returns and lower interest rate volatility. These updates reflect AGNC’s ongoing strategic and governance adjustments as reported in their latest filings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.