American Capital Agency Corp. reported 2nd quarter earnings today. I will provide analysis tomorrow. The dividend payout ratio is over 100% ($1.40 dividend / $1.36 net earnings). That isn't good news. I wouldn't buy this over-leveraged mortgage REIT. Here are the highlights.
(RTTNews) - American Capital Agency Corp. (AGNC: News ) reported net income for the second-quarter of $177.8 million or $1.36 per share, compared to $36.86 million or $1.23 million in the comparable quarter last year.
Net-interest income for the second quarter rose to $200.9 million from $33.2 million a year ago, while total other loss was $6.1 million, compared to a total other income of $7.7 million in the prior year quarter.
Further, the company's board of directors declared a second quarter dividend of $1.40 per share payable on July 27, 2011, to stockholders of record as of June 23, 2011.
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