Annaly Capital Management (NLY) Lowers Quarterly Dividend 26.1% to $0.65; 13.7% Yield

Annaly Capital Management (NYSE: NLY) declared a quarterly dividend of $0.65 per share, or $2.6 annualized. This is a 26.1% decrease from the prior dividend of $0.88.

The dividend will be payable on April 28, 2023, to stockholders of record on March 31, 2023, with an ex-dividend date of March 30, 2023.

The annual yield on the dividend is 13.7 percent.

“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.”

For a dividend history and other dividend-related data on Annaly Capital Management (NLY) click here.

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