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SEC Filings

10-K
AGNC INVESTMENT CORP. filed this Form 10-K on 02/27/2017
Entire Document
 


PART II. FINANCIAL INFORMATION

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
 
Quarterly Stock Prices and Dividend Declarations
 
Our common stock is listed on the NASDAQ Global Select Market under the symbol "AGNC." As of January 31, 2017, we had 1,084 stockholders of record. Most of the shares of our common stock are held by brokers and other institutions on behalf of stockholders.
 
The following table sets forth the range of high and low sales prices of our common stock as reported on the NASDAQ Global Select Market and dividends declared on our common stock for fiscal years 2016 and 2015:
 
 
Common Stock
 
Sales Prices
 
Dividends Declared 1
 
High 
Low
 
Fiscal Year 2016
 
 
 
 
Fourth Quarter
$
20.43

$
17.30

 
$
0.54

Third Quarter
$
20.10

$
18.88

 
$
0.56

Second Quarter
$
19.85

$
18.00

 
$
0.60

First Quarter
$
18.80

$
15.69

 
$
0.60

Fiscal Year 2015
 

 

 
 

Fourth Quarter
$
19.54

$
16.89

 
$
0.60

Third Quarter
$
20.08

$
18.21

 
$
0.60

Second Quarter
$
21.83

$
18.31

 
$
0.62

First Quarter
$
22.36

$
20.74

 
$
0.66

_______________________
1.Represents the sum of monthly dividends declared during each period presented.

We intend to pay monthly dividends to our common stockholders and to distribute all of our annual taxable income in a timely manner. This will enable us to qualify for the tax benefits accorded to a REIT under the Internal Revenue Code. We have not established a minimum dividend payment level and our ability to pay dividends may be adversely affected for the reasons described under the caption "Risk Factors."

In addition, holders of our 8.000% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock") and our 7.750% Series B Cumulative Redeemable Preferred Stock ("Series B Preferred Stock") (each underlying depositary share representing a 1/1000th interest in a share of our Series B Preferred Stock) are entitled to receive cumulative cash dividends at a rate of 8.000% and 7.750% per annum, respectively, of their aggregate liquidation preference of $173 million and $175 million, respectively, before holders of our common stock are entitled to receive any dividends. Under certain circumstances upon a change of control, the Series A and Series B Preferred Stock are convertible to shares of our common stock. All distributions will be made at the discretion of our Board of Directors and will depend on our earnings, our financial condition, maintenance of our REIT status and such other factors as our Board of Directors may deem relevant from time to time.
 
The following table summarizes the tax characterization of dividends declared on our common stock for fiscal years 2016 and 2015:
 
 
 
 
Tax Characterization
 
 
Dividends Declared Per Share of Common Stock
 
Ordinary Income Per Share
 
Qualified Dividends
 
Long-Term Capital Gains Per Share
Non-Dividend Distributions 2
Fiscal Year 2016 1
 
$
2.12

 
$
1.689674

 
$

 
$

$
0.430326

Fiscal Year 2015
 
$
2.48

 
$
2.480000

 
$

 
$

$

_________________________________________________________
1.
Includes dividends declared through November 30, 2016. The dividend of $0.18 per common share declared on December 14, 2016, which was payable on January 9, 2017, will be reported to stockholders as a fiscal year 2017 distribution for federal income tax purposes.
2.
Also referred to as a "return of capital." Represents dividends paid in excess of our current and accumulated earnings and profit, or "E&P," which is a tax-based measure calculated by making adjustments to taxable income for items that are treated differently for E&P purposes, such as net capital

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