USA: Farmer Mac earnings set quarterly and annual records
The Federal Agricultural Mortgage Corporation (Farmer Mac, NYSE: AGM and AGMA) today announced diluted earnings per share of $0.25 for fourth quarter 2000 and $0.92 for the year, a 47 percent increase over fourth quarter 1999 diluted earnings of $0.17 per share and a 48 percent increase over 1999 diluted earnings of $0.62. Net income was $2.9 million for the quarter and $10.4 million for the year, compared to $1.9 million and $6.9 million for the same periods in 1999.
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