Business
AGNC Investment Corp. Announces Second Quarter 2020 Financial Results
BETHESDA, Md., July 27, 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., July 27, 2020 /PRNewswire/ -- AGNC Investment Corp. (\"AGNC\" or the \"Company\") (Nasdaq: AGNC) today announced financial results for the quarter ended June 30, 2020. \nSECOND QUARTER 2020 FINANCIAL HIGHLIGHTS \n$1.60 comprehensive income per common share, comprised of: $1.24 net income per common share $0.36 other comprehensive income (\"OCI\") per common share on investments marked-to-market through OCI$0.58 net spread and dollar roll income per common share, excluding estimated \"catch-up\" premium amortization cost 1 Includes $0.14 per common share of dollar roll income associated with the Company's $15.7 billion average net long position in forward purchases and sales of Agency mortgage-backed securities (\"MBS\") in the \"to-be-announced\" (\"TBA\") market Excludes $(0.10) per common share of estimated \"catch-up\" premium amortization cost due to change in projected constant prepayment rate (\"CPR\") estimates$14.92 tangible net book value per common share as of June 30, 2020 Increased $1.30 per common share, or 9.5%, from $13.62 per common share as of March 31, 2020$0.36 dividends declared per common share for the second quarter 12.2% economic return on tangible common equity for the quarter Comprised of $0.36 dividends per common share and $1.30 increase in tangible net book value per common shareOTHER SECOND QUARTER HIGHLIGHTS \n$97.7 billion investment portfolio as of June 30, 2020, comprised of: $75.8 billion Agency MBS $20.5 billion net TBA mortgage position $1.3 billion credit risk transfer (\"CRT\") and non-Agency securities9.2x tangible net book value \"at risk\" leverage as of June 30, 2020 8.8x average tangible net book value \"at risk\" leverage for the quarterCash and unencumbered Agency MBS totaled approximately $4.5 billion as of June 30, 2020 Excludes unencumbered CRT and non-Agency securities and assets held at the Company's broker-dealer subsidiary, Bethesda Securities19.9% portfolio CPR for the quarter 16.6% average projected portfolio CPR as of June 30, 20201.68% annualized net interest spread and TBA dollar roll income for the quarter, excluding estimated \"catch-up\" premium amortization cost Excludes -26 bps of \"catch-up\" premium amortization cost due to change in projected CPR estimates12.2 million shares, or $147 million, of common stock repurchased during the quarter Represents ...