AGNC’s Yield Sits at 13%, but Shares Trade at a Hefty Premium
AGNC Investment Corp. closed Friday at $11.13. The company left its monthly common dividend steady at 12 cents. That gives an annualized yield of 12.9%. The spread versus its tangible net book value is wider: shares trade 32.8% above March 31 net book value of $8.38, or $2.75 above net assets. That premium is close to 23 months’ worth of dividends. Tangible net book value does not include goodwill.