Annaly Capital Management reported earnings available for distribution of 79 cents per share in the second quarter, exceeding its 75-cent dividend for a ninth consecutive quarter. The mortgage real estate investment trust currently offers a dividend yield above 12.5 percent, more than ten times the S&P 500's yield. CEO David Finkelstein attributed the recent dividend increase to the durable earnings power of the portfolio, supported by the company's scale, diversification across Agency MBS, residential credit, and mortgage servicing rights, and reduced economic leverage of 5.6 times. Annaly sees levered returns of 11 to 13 percent on new MSR investments, 12 to 15 percent on residential credit, and 14 to 16 percent on Agency MBS, and grew its Agency MBS portfolio by 3 billion dollars during the quarter.
Annaly Capital Management, Inc.Earnings available for distribution exceeded dividend for ninth straight quarter, supporting dividend yield above 12.5%.
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