Annaly Capital Management, Inc. Announces 4th Quarter Dividend of $0.50 per Share
December 18 2008 - 4:14PM
Business Wire
The Board of Directors of Annaly Capital Management, Inc. (NYSE:
NLY) declared the fourth quarter 2008 common stock cash dividend of
$0.50 per common share. This dividend is payable January 29, 2009
to common shareholders of record on December 30, 2008. The
ex-dividend date is December 26, 2008. The Company distributes
dividends based on its current estimate of taxable earnings per
common share, not GAAP earnings. Taxable and GAAP earnings will
differ because of non-taxable unrealized and realized losses,
differences in premium amortization, and non-deductible general and
administrative expenses. Beginning in the fourth quarter of 2008,
the Company will no longer apply hedge accounting to its interest
rate swaps under Statement of Financial Accounting Standards No.
133 Accounting for Derivative Instruments and Hedging Activities.
As a result, unrealized gains and losses on interest rate swaps
will be reported in earnings for GAAP net income. The Company
designates its interest rate swaps as tax hedges and any unrealized
gains or losses should not affect its distributable net income.
Dividends may be reinvested through Annaly's Dividend Reinvestment
Plan. Plan information may be obtained from the Plan Administrator,
Mellon Investor Services at 1-800-301-5234, at www.annaly.com, or
by contacting the Company. Annaly manages assets on behalf of
institutional and individual investors worldwide. The Company�s
principal business objective is to generate net income for
distribution to investors from its investment securities and from
its subsidiaries. Annaly is a Maryland corporation that has elected
to be taxed as a real estate investment trust (�REIT�), and
currently has 541,472,181 shares of common stock outstanding. This
news release and our public documents to which we refer contain or
incorporate by reference certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements which are based on various
assumptions (some of which are beyond our control) 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
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, changes in
government regulations affecting our business, our ability to
maintain our qualification as a REIT for federal income tax
purposes, as well as risks associated with the investment advisory
business of our subsidiaries, including the removal by clients of
assets they manage, their regulatory requirements and competition
in the investment advisory business. 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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