Annaly Capital Management, Inc. Reports Results For The 2nd Quarter 2012

Annaly Capital Management, Inc. (NYSE: NLY) today reported GAAP net loss for the quarter ended June 30, 2012 of $91.2 million or $0.10 per average common share as compared to GAAP net income of $120.8 million or $0.14 per average common share for the quarter ended June 30, 2011, and GAAP net income of $901.8 million or $0.92 per average common share for the quarter ended March 31, 2012.

Without the effect of the unrealized gains or losses on interest rate swaps and Agency interest-only mortgage-backed securities, net income for the quarter ended June 30, 2012, was $546.2 million or $0.55 per average common share as compared to $587.5 million or $0.71 per average common share for the quarter ended June 30, 2011, and $529.3 million or $0.54 per average common share for the quarter ended March 31, 2012.

During the quarter ended June 30, 2012, the Company disposed of $6.4 billion of Agency mortgage-backed securities and debentures, resulting in a realized gain of $94.8 million. During the quarter ended June 30, 2011, the Company disposed of $1.7 billion of Agency mortgage-backed securities and debentures, resulting in a realized gain of $7.3 million. During the quarter ended March 31, 2012, the Company disposed of $5.3 billion of Agency mortgage-backed securities and debentures, resulting in a realized gain of $80.3 million.

Common dividends declared for the quarters ended June 30, 2012, June 30, 2011, and March 31, 2012 were $0.55, $0.65, and $0.55 per common share, respectively. The Company distributes dividends based on its current estimate of taxable earnings per common share, not GAAP earnings. Taxable and GAAP earnings will typically differ due to items such as non-taxable unrealized and realized gains and losses, differences in premium amortization and discount accretion, and non-deductible general and administrative expenses.

The annualized dividend yield on the Company’s common stock for the quarter ended June 30, 2012, based on the June 30, 2012, closing price of $16.78, was 13.11%, as compared to 14.41% for the quarter ended June 30, 2011, and 13.91% for the quarter ended March 31, 2012.

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