<p>目前 <strong>标准普尔 500 指数</strong> 的股息收益率非常低，只有 1.2%，接近 20 多年来的最低水平。因此，通过投资标准普尔 500 指数基金，您不会获得太多的被动股息收入。</p>
<p>虽然标准普尔 500 指数现在的股息不高，但许多其他股息股票的回报要高得多。其中一个令人印象深刻的股息来自 <strong>AGNC Investment</strong>(AGNC)，其当前收益率接近 15%。以下是它如何能够支付如此丰厚的股息的分析。</p>
<h2>一种简单的投资策略</h2>
<p>AGNC Investment 是一家专注于投资住宅抵押贷款的房地产投资信托基金（REIT）。该公司购买住宅抵押贷款支持证券（MBS），这些证券是由政府机构如房利美、房地美或吉尼梅所担保的抵押贷款池。这些信用保护使得 MBS 成为非常低风险的固定收益投资。</p>
<p>MBS 投资的回报率相对较低（通常在低到中个位数之间）。然而，像 AGNC Investment 这样的抵押贷款 REIT 可以通过杠杆投资 MBS 来提高其回报（即借钱来融资额外的 MBS 投资）。该公司利用短期利率（借款的地方）和长期利率（投资的地方）之间的差异，从这两者之间的利差中获利。</p>
<p>AGNC Investment 目前持有 731 亿美元的 MBS 资产，平均收益率为 4.73%。其杠杆比率为 7.2 倍，这意味着它每投资 1 美元的股本，就借入了超过 7 美元。</p>
<p>这种杠杆显著提高了其股本回报率，目前在中高十几的水平。使用杠杆使 AGNC 能够为其投资于 MBS 的每一美元股本产生更多收入。</p>
<p>该抵押贷款 REIT 目前产生的收入足以覆盖其巨额股息。AGNC Investment 在第三季度每股记录的综合收入为 0.48 美元，而该季度的股息支付总计为每股 0.36 美元（每月 0.12 美元）。</p>
<h2>更高的风险</h2>
<p>自金融危机成立以来，AGNC Investment 已支付超过 130 亿美元的股息。自疫情以来，其每月股息支付稳定在每股 0.12 美元。然而，该 REIT 多年来已多次降低其股息水平：</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b2f74b840e889f3b17dc17cb59b85c13.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b2f74b840e889f3b17dc17cb59b85c13.png"/></p>
<p>AGNC 股息数据来源于 YCharts。</p>
<p>在利率和 MBS 市场发生重大变化的时期，该 REIT 不得不削减其支付。尽管该公司在最近几年面临一些挑战，但它通过灵活应对市场条件，已在过去 55 个月内维持了其股息。</p>
<p>展望未来，该公司认为美联储最近的降息将对其业务产生积极影响。首席执行官彼得·弗雷德里科在第三季度财报发布会上表示：“由于更广泛经济的积极发展、宽松的美联储货币政策立场以及在这些历史上有利水平下的机构 MBS 利差的稳定，今天的机构 MBS 前景显然比 2022 年和 2023 年要好。” 这驱动了该 REIT 的信念，即它可以继续产生足够高的回报以维持当前的股息水平。</p>
<p>然而，未来总是存在不确定性。通货膨胀的复苏可能会导致美联储撤回降息，而意外事件可能会影响 MBS 和信用市场。例如，没有人预料到 2020 年的疫情会颠覆市场，那是 AGNC 最后一次削减股息的时间。</p>
<h2>一种潜在的高收入投资方式</h2>
<p>AGNC Investment 目前提供的股息收益率是标准普尔 500 指数的 10 倍以上。这使得它成为一种潜在的丰厚收入投资机会。尽管由于使用杠杆而风险较高，但它也提供了更高的回报潜力。</p>

美国资本代理公司

<p>AGNC Investment 是一家房地产投资信托基金（REIT），目前提供近 15% 的股息收益率，远高于标准普尔 500 指数的 1.2%。该公司投资于住宅抵押贷款支持证券（MBS），并利用杠杆来增强回报。尽管过去曾削减股息，AGNC 已连续 55 个月维持每股 0.12 美元的月度支付。首席执行官对未来收益持乐观态度，原因是近期美联储降息，尽管仍存在风险，包括潜在的通货膨胀和市场动荡。AGNC 代表了一种高风险、高回报的投资机会，适合寻求收入的投资者</p>

<p>The dividend yield on the <strong>S&amp;P 500</strong> is very low these days. At 1.2%, it's near its lowest level in more than 20 years. Because of that, you won't generate much passive dividend income by investing in an S&amp;P 500 index fund.</p>
<div class="lb-trans"><p>目前 <strong>标准普尔 500 指数</strong> 的股息收益率非常低，只有 1.2%，接近 20 多年来的最低水平。因此，通过投资标准普尔 500 指数基金，您不会获得太多的被动股息收入。</p>
</div><p>While the S&amp;P 500 doesn't pay much these days, plenty of other dividend stocks pay a lot more. One of the more impressive payouts comes from <strong>AGNC Investment</strong>(AGNC), which currently yields almost 15%. Here's a look at how it can afford to pay such a lucrative dividend.</p>
<div class="lb-trans"><p>虽然标准普尔 500 指数现在的股息不高，但许多其他股息股票的回报要高得多。其中一个令人印象深刻的股息来自 <strong>AGNC Investment</strong>(AGNC)，其当前收益率接近 15%。以下是它如何能够支付如此丰厚的股息的分析。</p>
</div><h2>A simple investment strategy</h2>
<div class="lb-trans"><h2>一种简单的投资策略</h2>
</div><p>AGNC Investment is a real estate investment trust (REIT) focused on investing in residential mortgages. The company buys residential mortgage-backed securities (MBS), which are pools of mortgages guaranteed against credit losses by government agencies like Fannie Mae, Freddie Mac, or Ginnie Mae. Those credit protections make MBS very low-risk fixed-income investments.</p>
<div class="lb-trans"><p>AGNC Investment 是一家专注于投资住宅抵押贷款的房地产投资信托基金（REIT）。该公司购买住宅抵押贷款支持证券（MBS），这些证券是由政府机构如房利美、房地美或吉尼梅所担保的抵押贷款池。这些信用保护使得 MBS 成为非常低风险的固定收益投资。</p>
</div><p>MBS investments also have a relatively low return profile (typically in the low- to mid-single digits). However, mortgage REITs, like AGNC Investment, can enhance their returns by investing in MBS on a leveraged basis (i.e., borrowing money to finance additional MBS investments). The company capitalizes on the difference between shorter-term interest rates (where it borrows) and longer-term rates (where it invests), making money on the spread between the two rates.</p>
<div class="lb-trans"><p>MBS 投资的回报率相对较低（通常在低到中个位数之间）。然而，像 AGNC Investment 这样的抵押贷款 REIT 可以通过杠杆投资 MBS 来提高其回报（即借钱来融资额外的 MBS 投资）。该公司利用短期利率（借款的地方）和长期利率（投资的地方）之间的差异，从这两者之间的利差中获利。</p>
</div><p>AGNC Investment currently holds $73.1 billion in MBS assets with an average yield of 4.73%. It has a leverage ratio of 7.2 times, meaning it has borrowed more than $7 for every $1 of equity it has invested in its portfolio.</p>
<div class="lb-trans"><p>AGNC Investment 目前持有 731 亿美元的 MBS 资产，平均收益率为 4.73%。其杠杆比率为 7.2 倍，这意味着它每投资 1 美元的股本，就借入了超过 7 美元。</p>
</div><p>That leverage significantly increases its return on equity, which is currently in the mid to high teens. Using leverage enables AGNC to generate more income for every dollar of equity it invests in MBS.</p>
<div class="lb-trans"><p>这种杠杆显著提高了其股本回报率，目前在中高十几的水平。使用杠杆使 AGNC 能够为其投资于 MBS 的每一美元股本产生更多收入。</p>
</div><p>The mortgage REIT is currently generating more-than-enough income to cover its monster dividend. AGNC Investment recorded $0.48 of comprehensive income per share during the third quarter. That compared to dividend payments adding up to $0.36 per share in the quarter ($0.12 per share each month).</p>
<div class="lb-trans"><p>该抵押贷款 REIT 目前产生的收入足以覆盖其巨额股息。AGNC Investment 在第三季度每股记录的综合收入为 0.48 美元，而该季度的股息支付总计为每股 0.36 美元（每月 0.12 美元）。</p>
</div><h2>A higher risk</h2>
<div class="lb-trans"><h2>更高的风险</h2>
</div><p>AGNC Investment has paid over $13 billion in dividends since its formation during the financial crisis. Its dividend payment has been stable since the pandemic at $0.12 per share each month. However, the REIT has reduced its dividend level several times over the years:</p>
<div class="lb-trans"><p>自金融危机成立以来，AGNC Investment 已支付超过 130 亿美元的股息。自疫情以来，其每月股息支付稳定在每股 0.12 美元。然而，该 REIT 多年来已多次降低其股息水平：</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b2f74b840e889f3b17dc17cb59b85c13.png" alt="" original-src="https://media.ycharts.com/charts/b2f74b840e889f3b17dc17cb59b85c13.png"/></p>
<p>AGNC Dividend data by YCharts.</p>
<div class="lb-trans"><p>AGNC 股息数据来源于 YCharts。</p>
</div><p>The REIT has had to cut its payment during periods of significant changes in interest rates and the MBS market. While the company has faced some challenging conditions in more recent years, it has maintained its dividend for the past 55 months by adeptly navigating those market conditions.</p>
<div class="lb-trans"><p>在利率和 MBS 市场发生重大变化的时期，该 REIT 不得不削减其支付。尽管该公司在最近几年面临一些挑战，但它通过灵活应对市场条件，已在过去 55 个月内维持了其股息。</p>
</div><p>Looking ahead, the company believes that the recent interest-rate cuts by the Federal Reserve will have a positive impact on its business. CEO Peter Frederico stated in the third-quarter earnings press release, &#34;The outlook for Agency MBS today is decidedly better than it was in 2022 and 2023 as a result of the positive direction of the broader economy, the accommodative Fed monetary policy stance, and the stability of Agency MBS spreads at these historically favorable levels.&#34; That drives the REIT's belief that it can continue generating a high-enough return to maintain its current dividend level.</p>
<div class="lb-trans"><p>展望未来，该公司认为美联储最近的降息将对其业务产生积极影响。首席执行官彼得·弗雷德里科在第三季度财报发布会上表示：“由于更广泛经济的积极发展、宽松的美联储货币政策立场以及在这些历史上有利水平下的机构 MBS 利差的稳定，今天的机构 MBS 前景显然比 2022 年和 2023 年要好。” 这驱动了该 REIT 的信念，即它可以继续产生足够高的回报以维持当前的股息水平。</p>
</div><p>However, there's always a risk that the future won't play outas expected. A resurgence in inflation could cause the Federal Reserve to backpedal on rate reductions, while an unexpected event could impact the MBS and credit markets. For example, no one expected a pandemic to upend the market in 2020, which was the last time AGNC cut its dividend.</p>
<div class="lb-trans"><p>然而，未来总是存在不确定性。通货膨胀的复苏可能会导致美联储撤回降息，而意外事件可能会影响 MBS 和信用市场。例如，没有人预料到 2020 年的疫情会颠覆市场，那是 AGNC 最后一次削减股息的时间。</p>
</div><h2>An intriguing way to potentially make a lot of income</h2>
<div class="lb-trans"><h2>一种潜在的高收入投资方式</h2>
</div><p>AGNC Investment currently offers a dividend yield more than 10 times higher than the S&amp;P 500. That makes it a potentially lucrative income investment opportunity these days. While it's a higher-risk dividend stock due to its use of leverage, it also offers higher return potential.</p>
<div class="lb-trans"><p>AGNC Investment 目前提供的股息收益率是标准普尔 500 指数的 10 倍以上。这使得它成为一种潜在的丰厚收入投资机会。尽管由于使用杠杆而风险较高，但它也提供了更高的回报潜力。</p>
</div>

This Impressive Monthly Dividend Stock Currently Pays Over 10 Times More Than the S&P 500

- S&P 500 的股息收益率仅为 1.2%，接近 20 年来的最低水平。  
- AGNC Investment 的股息收益率接近 15%，通过杠杆投资于低风险的抵押贷款支持证券。  
- 尽管面临市场风险，AGNC 仍能维持高额股息，未来前景乐观。  

这只令人印象深刻的月度分红股票目前支付的股息超过标普 500 指数的 10 倍