AGNC - This 15%-Plus-Yielding Passive Income Stock Continues to Deliver Despite Persistent Challenges
2024-04-24 07:21:00 ET
AGNC Investment (NASDAQ: AGNC) pays a prodigious dividend. The mortgage-focused real estate investment trust (REIT) currently yields 15.7%. That's more than 10 times the S&P 500 's dividend yield of 1.4%.
The mortgage REIT generated more than enough income to cover its monster payout in the first quarter. While it hit some turbulence early in the second quarter, it should be able to continue earning enough to cover its monthly dividend in the near term.
AGNC Investment reported $0.48 per share of comprehensive income during the first quarter. That easily covered the REIT's dividend payments, which totaled $0.36 per share for the quarter, or $0.12 monthly. With income outpacing dividend payments, the REIT's tangible net book value increased by $0.14 per share to $8.84. That enabled the mortgage REIT to generate a 5.7% economic return for its investors.
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This 15%-Plus-Yielding Passive Income Stock Continues to Deliver Despite Persistent Challenges