Business
AGNC Investment Corp. Announces Fourth Quarter 2020 Financial Results
BETHESDA, Md., Jan. 25, 2021 /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. 25, 2021 /PRNewswire/ -- AGNC Investment Corp. (\"AGNC\" or the \"Company\") (Nasdaq: AGNC) today announced financial results for the quarter ended December 31, 2020. \nFOURTH QUARTER 2020 FINANCIAL HIGHLIGHTS \n$1.16 comprehensive income per common share, comprised of: $1.37 net income per common share $(0.21) other comprehensive loss (\"OCI\") per common share on investments marked-to-market through OCI$0.75 net spread and dollar roll income per common share, excluding estimated \"catch-up\" premium amortization cost 1 Includes $0.32 per common share of dollar roll income associated with the Company's $33.8 billion average net long position in forward purchases and sales of Agency mortgage-backed securities (\"MBS\") in the \"to-be-announced\" (\"TBA\") market Excludes $(0.20) per common share of estimated \"catch-up\" premium amortization cost due to change in projected constant prepayment rate (\"CPR\") estimates$16.71 tangible net book value per common share as of December 31, 2020 Increased $0.83 per common share, or 5.2%, from $15.88 per common share as of September 30, 2020$0.36 dividends declared per common share for the fourth quarter 7.5% economic return on tangible common equity for the quarter Comprised of $0.36 dividends per common share and $0.83 increase in tangible net book value per common shareOTHER FOURTH QUARTER HIGHLIGHTS \n$97.9 billion investment portfolio as of December 31, 2020, comprised of: $65.1 billion Agency MBS $31.5 billion net TBA mortgage position $1.3 billion credit risk transfer (\"CRT\") and non-Agency securities8.5x tangible net book value \"at risk\" leverage as of December 31, 2020 8.4x average tangible net book value \"at risk\" leverage for the quarter Cash and unencumbered Agency MBS totaled approximately $5.4 billion as of December 31, 2020 Excludes unencumbered CRT and non-Agency securities and assets held at the Company's broker-dealer subsidiary, Bethesda Securities 27.6% portfolio CPR for the quarter 17.6% average projected portfolio CPR as of December 31, 2020 2.02% annualized net interest spread and TBA dollar roll income for the quarter, excluding estimated \"catch-up\" premium amortization cost Excludes -47 bps of \"catch-up\" premium amortization cost due to change in projected CPR estimates 6.6 million shares, or $101 million, of common stock repurchased ...