Has AGNC's Monthly Dividend Made Up for What Its Share Price Did?

AGNC Investment's share price has declined 50% since its May 2008 IPO, falling from $20 to around $10 per share. However, the mortgage REIT has paid over $50 in cumulative dividends per share, more than offsetting the price decline. With dividends reinvested, IPO investors would see nearly 600% total returns (11% annualized), outperforming other financial stocks and mortgage REITs. The article cautions that the current 14.4% dividend yield is unsustainable, as both share price and dividend are likely to continue declining due to ongoing dilution from share issuances and market volatility.