Business
AGNC Investment Corp. Announces Fourth Quarter 2019 Financial Results
BETHESDA, Md., Jan. 29, 2020 /PRNewswire/ -- AGNC Investment Corp. ("AGNC" or the "Company") (Nasdaq: AGNC) today announced financial results for the quarter
About this update from Agnc Investment Corp.
[{"type":"text","content":"BETHESDA, Md., Jan. 29, 2020 /PRNewswire/ -- AGNC Investment Corp. (\"AGNC\" or the \"Company\") (Nasdaq: AGNC) today announced financial results for the quarter ended December 31, 2019.\nFOURTH QUARTER 2019 FINANCIAL HIGHLIGHTS\n$1.59 comprehensive income per common share, comprised of: $1.56 net income per common share $0.03 other comprehensive income (\"OCI\") per common share on investments marked-to-market through OCI$0.57 net spread and dollar roll income per common share, excluding estimated \"catch-up\" premium amortization benefit 1 Includes $0.04 per common share of dollar roll income associated with the Company's $7.0 billion average net long position in forward purchases and sales of Agency mortgage-backed securities (\"MBS\") in the \"to-be-announced\" (\"TBA\") market Excludes $0.09 per common share of estimated \"catch-up\" premium amortization benefit due to change in projected constant prepayment rate (\"CPR\") estimates$17.66 tangible net book value per common share as of December 31, 2019 Increased $1.11 per common share, or 6.7%, from $16.55 per common share as of September 30, 2019$0.48 dividends declared per common share for the fourth quarter 9.6% economic return on tangible common equity for the quarter Comprised of $0.48 dividends per common share and $1.11 increase in tangible net book value per common shareOTHER FOURTH QUARTER HIGHLIGHTS\n$107.9 billion investment portfolio as of December 31, 2019, comprised of: $98.9 billion Agency MBS $7.4 billion net TBA mortgage position $1.6 billion credit risk transfer (\"CRT\") and non-Agency securities9.4x tangible net book value \"at risk\" leverage as of December 31, 2019 9.5x average tangible net book value \"at risk\" leverage for the quarter15.4% portfolio CPR for the quarter 10.8% average projected portfolio CPR as of December 31, 20191.33% annualized net interest spread and TBA dollar roll income for the quarter, excluding estimated \"catch-up\" premium amortization benefit Excludes 19 bps of \"catch-up\" premium amortization benefit due to change in projected CPR estimates2019 FULL YEAR HIGHLIGHTS\n$3.08 comprehensive income per common share, comprised of: $1.16 net income per common share $1.92 OCI per common share$2.16 net spread and dollar roll income per common share, excluding estimated \"catch-up\" premium amortization cost 1 Includes $0.17 per co...