A company called AGNC Investment reported their earnings for the second quarter of 2024. They made $482 million from interest and dollar roll income, which is slightly lower than the previous quarter. Their net spread and dollar roll income was 53 cents per share, which matched the estimate of experts. But, their comprehensive income per common share was negative 13 cents, which means they lost money in the second quarter.
The company's average asset yield increased to 4.69%, and their average net interest spread was 2.69%. They had $66 billion invested in mortgage-backed securities and other investments. They also had $530 million in cash and cash equivalents.
AGNC Investment has been paying dividends to its shareholders since its initial public offering in May 2008. In the second quarter, they announced a dividend of 12 cents per share for each of the months of April, May, and June.
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AI's rating: 1.5/5
Neutral
Article's Topic: Investment
Article's Tone: Informative
Article's Purpose: To report AGNC Investment's Q2 2024 earnings and provide a brief analysis.
Article's Key Information: AGNC's net spread and dollar roll income per common share matched the Zacks Consensus Estimate but declined from the previous quarter. Net interest expenses and asset yield increased, but the combined weighted average cost of funds also increased. The company's investment portfolio grew, and its tangible net BVPS declined. The economic return on tangible common equity was negative. The company announced a dividend of 12 cents per share for each of the second quarter months.
Article's Recommendation: None.