Annaly Capital Hikes Dividend by 5%

NEW YORK ( TheStreet) -- Annaly Capital Management ( NLY) 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.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Annaly unloaded $4.2 billion of mortgage-backed securities and agency debentures in the recent quarter, resulting in a realized gain of $27.2 million.

It also issued 72.5 million common shares through two separate public offerings, producing total net proceeds of $2.9 billion.

Annaly Capital is a New York City-based REIT, which is engaged in the business of investing, on a leveraged basis, in mortgage pass-through certificates, collateralized mortgage obligations and other mortgage-backed securities.

-- Written by Miriam Marcus Reimer in New York.

>To contact the writer of this article, click here: Miriam Reimer.

>To follow the writer on Twitter, go to http://twitter.com/miriamsmarket.

>To submit a news tip, send an email to: tips@thestreet.com.

READERS ALSO LIKE:




>>See our new stock quote page.

Get more stock ideas and investing advice on our sister site, Stockpickr.com.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

More from Stocks

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists

This Should Be Your Retirement Savings Plan When the Stock Market Crashes

This Should Be Your Retirement Savings Plan When the Stock Market Crashes