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AGNC Investment Corp. Declares Monthly Common Stock Dividend of $0.12 per Common Share for October 2022 and Announces Preliminary Estimates for Third Quarter 2022
BETHESDA, Md., Oct. 10, 2022 /PRNewswire/ -- AGNC Investment Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced today that its Board of Directors has
About this update from Agnc Investment Corp.
[{"type":"text","content":"BETHESDA, Md., Oct. 10, 2022 /PRNewswire/ -- AGNC Investment Corp. (Nasdaq: AGNC) (\"AGNC\" or the \"Company\") announced today that its Board of Directors has declared a cash dividend of $0.12 per share of common stock for October 2022. The dividend is payable on November 9, 2022 to common stockholders of record as of October 31, 2022. \nIn light of recent market volatility, the Company also announced preliminary estimates for certain financial measures for the third quarter 2022:\nAs of September 30, 2022, AGNC's tangible net book value per common share was estimated to be between $9.06 and $9.10 per share, after deductions for common and preferred stock dividends declared through September 30, 2022. For the quarter ended September 30, 2022, AGNC's comprehensive loss per common share was estimated to be between $1.99 and $2.03 per share.For the quarter ended September 30, 2022, AGNC's net spread and dollar roll income (a non-GAAP financial measure) was estimated to be between $0.82 and $0.86 per common share, excluding approximately $0.03 per common share of estimated \"catch-up\" premium amortization benefit.1As of September 30, 2022, AGNC had approximately $3.6 billion of cash and unencumbered Agency MBS, which includes approximately $0.8 billion at the Company's captive broker-dealer Bethesda Securities and excludes unencumbered CRT and non-Agency securities. Cash and unencumbered Agency MBS represented approximately 54% of the Company's tangible equity as of September 30, 2022, largely unchanged from June 30, 2022.For the quarter ended September 30, 2022, AGNC's average \"at risk\" leverage was approximately 8.1x. As of September 30, 2022, the Company's \"at risk\" leverage was approximately 8.7x.2 As of September 30, 2022, AGNC's total investment portfolio was approximately $61.5 billion, which includes approximately $17.9 billion of To-Be-Announced (\"TBA\") Agency MBS and approximately $1.7 billion of credit risk transfer and non-Agency securities.As of September 30, 2022, AGNC's hedge portfolio covered approximately 118% of the Company's funding liabilities,3 and its duration gap4 was approximately one year.The Company will report full financial results for the third quarter of 2022 on October 24, 2022, as previously announced. The financial estimates provided above reflect the views and assumptions of Company manageme...