Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

              Date of Report (Date of earliest event reported): April 1, 2004

                    Federal Agricultural Mortgage Corporation
             (Exact name of registrant as specified in its charter)

     Federally chartered
       instrumentality of
       the United States               0-17440               52-1578738
(State or other jurisdiction of      (Commission          (I.R.S. Employer
 incorporation or organization)      File Number)        Identification No.)

1133 Twenty-First Street, N.W., Suite 600, Washington, D.C.         20036
-----------------------------------------------------------      ------------
       (Address of principal executive offices)                   (Zip Code)

       Registrant's telephone number, including area code: (202) 872-7700

                                    No change
          (Former name or former address, if changed since last report)

Item 5.  Other Events and Regulation FD Disclosure.

     On April 1,  2004,  the Board of  Directors  of the  Registrant  declared a
quarterly   dividend  on  the  Registrant's  6.40%  Cumulative  Preferred Stock,
Series A.  The  dividend  of  $0.80  per  share,  which  is  for the period from
April 1, 2004  through  June 30,  2004,  will  be  payable  on June 30,  2004 to
stockholders  of record as of June 20, 2004.


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                    FEDERAL AGRICULTURAL MORTGAGE CORPORATION

                                    By:   /s/ Jerome G. Oslick
                                        Name:   Jerome G. Oslick
                                        Title:  Vice President - General Counsel

Dated:      April 6, 2004