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Annaly Capital Hikes Dividend by 5%

NEW YORK ( TheStreet) -- Annaly Capital Management (NLY - Get Report) will reward its shareholders with an increased dividend.

The real estate investment trust said this week it will pay its shareholders a quarterly dividend of 65 cents a share, up from its prior payout of 62 cents.

That represents a 4.8% increase, and brings Annaly Capital's dividend yield to around 14.1%.

Annaly Capital shares rose 0.3% in premarket trading Wednesday.

On May 5 , Annaly Capital said it doubled its quarterly earnings year over year.

The REIT booked net income of $699.9 million, or 92 cents a share, up from $281.1 million, or 50 cents a share, in the year-earlier period.

Adjusted for one-time items, Annaly's profit came to $530.6 million, or 70 cents a share, topping expectations for earnings of 59 cents.

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