Annaly Capital Management, Inc. Announces 1st Quarter 2023 Common Stock Dividend of $0.65 per Share
14 Mars 2023 - 9:15PM
Business Wire
The Board of Directors of Annaly Capital Management, Inc. (NYSE:
NLY) (“Annaly” or the “Company”) declared the first quarter 2023
common stock cash dividend of $0.65 per common share. This dividend
is payable April 28, 2023, to common shareholders of record on
March 31, 2023. The ex-dividend date is March 30, 2023.
“As noted on our Fourth Quarter 2022 Earnings Call, Annaly has
reduced the common dividend to a level in line with the Company’s
historical yield on book value,” said David Finkelstein, Annaly’s
Chief Executive Officer and Chief Investment Officer. “We believe a
quarterly dividend of $0.65, which represents an approximately
12.5% yield on current book value(1), allows us to appropriately
manage the portfolio within conservative risk parameters while also
delivering a more sustainable yield that is competitive with our
peers as well as broader fixed income benchmarks. The Company
continues to see attractive reinvestment opportunities across its
three businesses and believes this new dividend level is consistent
with the current return potential of the portfolio.”
About Annaly
Annaly is a leading diversified capital manager with investment
strategies across mortgage finance. Annaly’s principal business
objective is to generate net income for distribution to its
stockholders and to optimize its returns through prudent management
of its diversified investment strategies. Annaly is internally
managed and has elected to be taxed as a real estate investment
trust, or REIT, for federal income tax purposes. Additional
information on the company can be found at www.annaly.com.
____________________________________ (1) As of March 13, 2023,
our estimated book value per common share was between $20.60 and
$20.80 compared to $20.79 per common share at December 31, 2022.
Based on 494 million common shares issued and outstanding as of
March 13, 2023.
Forward-Looking Statements
This news release and our public documents to which we refer
contain or incorporate by reference certain forward-looking
statements which are based on various assumptions (some of which
are beyond our control) and may be identified by reference to a
future period or periods or by the use of forward-looking
terminology, such as “may,” “will,” “should,” “estimate,”
“project,” “believe,” “expect,” “anticipate,” “continue,” or
similar terms or variations on those terms or the negative of those
terms. Actual results could differ materially from those set forth
in forward-looking statements due to a variety of factors,
including, but not limited to, changes in interest rates; changes
in the yield curve; changes in prepayment rates; the availability
of mortgage-backed securities and other securities for purchase;
the availability of financing and, if available, the terms of any
financing; changes in the market value of our assets; changes in
business conditions and the general economy; our ability to grow
our residential credit business; our ability to grow our mortgage
servicing rights business; credit risks related to our investments
in credit risk transfer securities and residential mortgage-backed
securities and related residential mortgage credit assets; risks
related to investments in mortgage servicing rights; the our
ability to consummate any contemplated investment opportunities;
changes in government regulations or policy affecting our business;
our ability to maintain our qualification as a REIT for U.S.
federal income tax purposes; our ability to maintain our exemption
from registration under the Investment Company Act of 1940;
operational risks or risk management failures by us or critical
third parties, including cybersecurity incidents; and risks and
uncertainties related to the COVID-19 pandemic, including as
related to adverse economic conditions on real estate-related
assets and financing conditions. For a discussion of the risks and
uncertainties which could cause actual results to differ from those
contained in the forward-looking statements, see “Risk Factors” in
our most recent Annual Report on Form 10-K and any subsequent
Quarterly Reports on Form 10-Q. The Company does not undertake, and
specifically disclaims any obligation, to publicly release the
result of any revisions which may be made to any forward-looking
statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such
statements, except as required by law.
The Company has not performed its comprehensive closing
procedures and, as a result, the Company’s estimates are
preliminary and based on information currently available to
management. Accordingly, investors should not place undue reliance
on this preliminary information. Estimates of operating results are
inherently uncertain and the Company undertakes no obligation to
update this information. Neither Ernst & Young LLP, the
Company’s independent registered public accounting firm, nor any
other independent accountants, have audited, reviewed, compiled or
performed any procedures with respect to this preliminary financial
information.
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Annaly Capital Management, Inc. Investor Relations 1-888-8Annaly
investor@annaly.com
Annaly Capital Management (NYSE:NLY)
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