Annaly Capital Management, Inc. Announces Share Repurchase Program of $1 Billion
August 05 2015 - 4:15PM
Business Wire
Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the
“Company”) today announced that its Board of Directors has
authorized the repurchase of up to $1 billion of its outstanding
common shares through December 31, 2016.
Purchases made pursuant to the program will be made in either
the open market or in privately negotiated transactions from time
to time as permitted by securities laws and other legal
requirements. The timing, manner, price and amount of any
repurchases will be determined by the Company in its discretion and
will be subject to economic and market conditions, stock price,
applicable legal requirements and other factors. The authorization
does not obligate the Company to acquire any particular amount of
common shares and the program may be suspended or discontinued at
the Company’s discretion without prior notice. The Board will
assess the effects of this program at its completion.
About Annaly
Annaly’s principal business objective is to generate net income
for distribution to its shareholders from its investments. Annaly
is a Maryland corporation that has elected to be taxed as a real
estate investment trust (“REIT”). Annaly is managed and advised by
Annaly Management Company LLC.
Other Information
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,” “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 financings; changes in the market value
of our assets; changes in business conditions and the general
economy; our ability to grow the commercial mortgage business;
credit risks related to our investments in Agency CRT securities,
commercial real estate assets, residential mortgage-backed
securities and related residential mortgage credit assets and
corporate debt; our ability to grow our residential mortgage credit
business; changes in government regulations affecting our business;
our ability to maintain our qualification as a REIT for federal
income tax purposes; and our ability to maintain our exemption from
registration under the Investment Company Act of 1940, as amended.
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. We do not undertake, and specifically disclaim 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.
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Annaly Capital Management, Inc.Investor Relations,
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