<p>目前 <strong>標準普爾 500 指數</strong> 的股息收益率非常低，只有 1.2%，接近 20 多年來的最低水平。因此，通過投資標準普爾 500 指數基金，您不會獲得太多的被動股息收入。</p>
<p>雖然標準普爾 500 指數現在的股息不高，但許多其他股息股票的回報要高得多。其中一個令人印象深刻的股息來自 <strong>AGNC Investment</strong>(AGNC)，其當前收益率接近 15%。以下是它如何能夠支付如此豐厚的股息的分析。</p>
<h2>一種簡單的投資策略</h2>
<p>AGNC Investment 是一家專注於投資住宅抵押貸款的房地產投資信託基金（REIT）。該公司購買住宅抵押貸款支持證券（MBS），這些證券是由政府機構如房利美、房地美或吉尼梅所擔保的抵押貸款池。這些信用保護使得 MBS 成為非常低風險的固定收益投資。</p>
<p>MBS 投資的回報率相對較低（通常在低到中個位數之間）。然而，像 AGNC Investment 這樣的抵押貸款 REIT 可以通過槓桿投資 MBS 來提高其回報（即借錢來融資額外的 MBS 投資）。該公司利用短期利率（借款的地方）和長期利率（投資的地方）之間的差異，從這兩者之間的利差中獲利。</p>
<p>AGNC Investment 目前持有 731 億美元的 MBS 資產，平均收益率為 4.73%。其槓桿比率為 7.2 倍，這意味着它每投資 1 美元的股本，就借入了超過 7 美元。</p>
<p>這種槓桿顯著提高了其股本回報率，目前在中高十幾的水平。使用槓桿使 AGNC 能夠為其投資於 MBS 的每一美元股本產生更多收入。</p>
<p>該抵押貸款 REIT 目前產生的收入足以覆蓋其鉅額股息。AGNC Investment 在第三季度每股記錄的綜合收入為 0.48 美元，而該季度的股息支付總計為每股 0.36 美元（每月 0.12 美元）。</p>
<h2>更高的風險</h2>
<p>自金融危機成立以來，AGNC Investment 已支付超過 130 億美元的股息。自疫情以來，其每月股息支付穩定在每股 0.12 美元。然而，該 REIT 多年來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 股息數據來源於 YCharts。</p>
<p>在利率和 MBS 市場發生重大變化的時期，該 REIT 不得不削減其支付。儘管該公司在最近幾年面臨一些挑戰，但它通過靈活應對市場條件，已在過去 55 個月內維持了其股息。</p>
<p>展望未來，該公司認為美聯儲最近的降息將對其業務產生積極影響。首席執行官彼得·弗雷德里科在第三季度財報發佈會上表示：“由於更廣泛經濟的積極發展、寬鬆的美聯儲貨幣政策立場以及在這些歷史上有利水平下的機構 MBS 利差的穩定，今天的機構 MBS 前景顯然比 2022 年和 2023 年要好。” 這驅動了該 REIT 的信念，即它可以繼續產生足夠高的回報以維持當前的股息水平。</p>
<p>然而，未來總是存在不確定性。通貨膨脹的復甦可能會導致美聯儲撤回降息，而意外事件可能會影響 MBS 和信用市場。例如，沒有人預料到 2020 年的疫情會顛覆市場，那是 AGNC 最後一次削減股息的時間。</p>
<h2>一種潛在的高收入投資方式</h2>
<p>AGNC Investment 目前提供的股息收益率是標準普爾 500 指數的 10 倍以上。這使得它成為一種潛在的豐厚收入投資機會。儘管由於使用槓桿而風險較高，但它也提供了更高的回報潛力。</p>

美國資本代理公司

<p>AGNC Investment 是一家房地產投資信託基金（REIT），目前提供近 15% 的股息收益率，遠高於標準普爾 500 指數的 1.2%。該公司投資於住宅抵押貸款支持證券（MBS），並利用槓桿來增強回報。儘管過去曾削減股息，AGNC 已連續 55 個月維持每股 0.12 美元的月度支付。首席執行官對未來收益持樂觀態度，原因是近期美聯儲降息，儘管仍存在風險，包括潛在的通貨膨脹和市場動盪。AGNC 代表了一種高風險、高回報的投資機會，適合尋求收入的投資者</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>標準普爾 500 指數</strong> 的股息收益率非常低，只有 1.2%，接近 20 多年來的最低水平。因此，通過投資標準普爾 500 指數基金，您不會獲得太多的被動股息收入。</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>雖然標準普爾 500 指數現在的股息不高，但許多其他股息股票的回報要高得多。其中一個令人印象深刻的股息來自 <strong>AGNC Investment</strong>(AGNC)，其當前收益率接近 15%。以下是它如何能夠支付如此豐厚的股息的分析。</p>
</div><h2>A simple investment strategy</h2>
<div class="lb-trans"><h2>一種簡單的投資策略</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 是一家專注於投資住宅抵押貸款的房地產投資信託基金（REIT）。該公司購買住宅抵押貸款支持證券（MBS），這些證券是由政府機構如房利美、房地美或吉尼梅所擔保的抵押貸款池。這些信用保護使得 MBS 成為非常低風險的固定收益投資。</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 投資的回報率相對較低（通常在低到中個位數之間）。然而，像 AGNC Investment 這樣的抵押貸款 REIT 可以通過槓桿投資 MBS 來提高其回報（即借錢來融資額外的 MBS 投資）。該公司利用短期利率（借款的地方）和長期利率（投資的地方）之間的差異，從這兩者之間的利差中獲利。</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 億美元的 MBS 資產，平均收益率為 4.73%。其槓桿比率為 7.2 倍，這意味着它每投資 1 美元的股本，就借入了超過 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>這種槓桿顯著提高了其股本回報率，目前在中高十幾的水平。使用槓桿使 AGNC 能夠為其投資於 MBS 的每一美元股本產生更多收入。</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>該抵押貸款 REIT 目前產生的收入足以覆蓋其鉅額股息。AGNC Investment 在第三季度每股記錄的綜合收入為 0.48 美元，而該季度的股息支付總計為每股 0.36 美元（每月 0.12 美元）。</p>
</div><h2>A higher risk</h2>
<div class="lb-trans"><h2>更高的風險</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>自金融危機成立以來，AGNC Investment 已支付超過 130 億美元的股息。自疫情以來，其每月股息支付穩定在每股 0.12 美元。然而，該 REIT 多年來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 股息數據來源於 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 市場發生重大變化的時期，該 REIT 不得不削減其支付。儘管該公司在最近幾年面臨一些挑戰，但它通過靈活應對市場條件，已在過去 55 個月內維持了其股息。</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>展望未來，該公司認為美聯儲最近的降息將對其業務產生積極影響。首席執行官彼得·弗雷德里科在第三季度財報發佈會上表示：“由於更廣泛經濟的積極發展、寬鬆的美聯儲貨幣政策立場以及在這些歷史上有利水平下的機構 MBS 利差的穩定，今天的機構 MBS 前景顯然比 2022 年和 2023 年要好。” 這驅動了該 REIT 的信念，即它可以繼續產生足夠高的回報以維持當前的股息水平。</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，未來總是存在不確定性。通貨膨脹的復甦可能會導致美聯儲撤回降息，而意外事件可能會影響 MBS 和信用市場。例如，沒有人預料到 2020 年的疫情會顛覆市場，那是 AGNC 最後一次削減股息的時間。</p>
</div><h2>An intriguing way to potentially make a lot of income</h2>
<div class="lb-trans"><h2>一種潛在的高收入投資方式</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標準普爾 500 指數的 10 倍以上。這使得它成為一種潛在的豐厚收入投資機會。儘管由於使用槓桿而風險較高，但它也提供了更高的回報潛力。</p>
</div>

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

- S&P 500 的股息收益率僅為 1.2%，接近 20 年來的最低水平。  
- AGNC Investment 的股息收益率接近 15%，通過槓桿投資於低風險的抵押貸款支持證券。  
- 儘管面臨市場風險，AGNC 仍能維持高額股息，未來前景樂觀。  

這隻令人印象深刻的月度分紅股票目前支付的股息超過標普 500 指數的 10 倍