UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             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): May 19, 2005


                    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 8.01.  Other Events.

     On May 19,  2005,  the Board of  Directors  of the  Registrant  declared  a
quarterly  dividend on the Registrant's  three classes of common stock - Class A
Voting Common Stock,  Class B Voting Common Stock, and Class C Non Voting Common
Stock. The quarterly dividend of $0.10 per share of common stock will be payable
on June 30, 2005 to holders of record of common stock as of June 15, 2005.  Also
on May 19, 2005, the Board of Directors of the  Registrant  declared a quarterly
dividend on the  Registrant's  6.40% Cumulative  Preferred Stock,  Series A. The
quarterly  dividend of $0.80 per share of preferred stock is for the period from
April 1, 2005  through  June 30,  2005 and will be payable  on June 30,  2005 to
holders of record of preferred stock as of June 20, 2005.






                                   SIGNATURES


     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:      May 20, 2005