AGNC Investment Corp. reported net income of $863 million for fiscal year 2024, with total comprehensive income of $789 million. The company's investment portfolio grew to $73.3 billion, consisting primarily of $65.5 billion in Agency RMBS and $6.9 billion in net TBA securities. Net spread and dollar roll income per diluted common share was $1.88, down from $2.61 in 2023, primarily due to narrowing net interest spreads.The company maintained a disciplined leverage profile with an average "at risk" leverage ratio of 7.2x tangible stockholders' equity. The weighted average coupon on fixed-rate Agency RMBS and TBA securities increased to 5.02% from 4.83% in 2023, while the average projected CPR decreased to 7.7% from 11.4%. AGNC concluded 2024 with $6.1 billion in cash and unencumbered Agency RMBS, representing 66% of tangible stockholders' equity.During 2024, AGNC raised $2.0 billion...Show More

AGNC Investment Corp. reported net income of $863 million for fiscal year 2024, with total comprehensive income of $789 million. The company's investment portfolio grew to $73.3 billion, consisting primarily of $65.5 billion in Agency RMBS and $6.9 billion in net TBA securities. Net spread and dollar roll income per diluted common share was $1.88, down from $2.61 in 2023, primarily due to narrowing net interest spreads.The company maintained a disciplined leverage profile with an average "at risk" leverage ratio of 7.2x tangible stockholders' equity. The weighted average coupon on fixed-rate Agency RMBS and TBA securities increased to 5.02% from 4.83% in 2023, while the average projected CPR decreased to 7.7% from 11.4%. AGNC concluded 2024 with $6.1 billion in cash and unencumbered Agency RMBS, representing 66% of tangible stockholders' equity.During 2024, AGNC raised $2.0 billion of common stock through its at-the-market offering program at a premium to tangible net book value. The company's duration gap extended to 0.3 years from -0.5 years in 2023, reflecting higher long-term rates and shifts in portfolio composition. AGNC maintained its monthly dividend rate of $0.12 per common share throughout 2024, delivering a total dividend of $1.44 per share for the year.