( BW)(NY-ANNALY-MORTGAGE)(NLY) Annaly Mortgage Management, Inc.
Increases 2nd Quarter Dividend By 8% Over Previous Quarter And 70%
Over 2nd Quarter 2001
Business Editors
NEW YORK--(BUSINESS WIRE)--June 20, 2002--The Board of Directors
of Annaly Mortgage Management, Inc. (NYSE: NLY) declared the second
quarter 2002 cash dividend of $0.68 per share.
This dividend declaration represents an 8% increase over the
previous quarter's dividend of $0.63 per share and a 70% increase over
the second quarter 2001 dividend of $0.40 per share. This dividend is
payable July 31, 2002 to common shareholders of record on July 3,
2002.
Dividends may be reinvested through Annaly's Dividend Reinvestment
Plan. Plan information may be obtained from the Plan Administrator,
ChaseMellon Shareholder Services at 1-800-842-7629, at www.annaly.com,
or by contacting the Company.
The Company's office is relocating to 1211 Avenue of the Americas,
Suite 2902, New York, New York 10036 on Monday June 24, 2002.
Annaly Mortgage Management, Inc., a Maryland corporation, owns and
manages a portfolio of mortgage-backed securities. The Company's
principal business objective is to generate net income for
distribution to stockholders from the spread between the interest
income on its assets and the costs of borrowing to finance its
acquisition of these assets. The Company has elected to be taxed as a
real estate investment trust (REIT).
This news release and our public documents to which we refer,
contain or incorporate by reference certain forward-looking
statements. When used, statements which are not historical in nature,
including the words "anticipate," "estimate," "should," "expect,"
"believe," "intend," and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are
subject to certain risks and uncertainties, including, among other
things: business conditions and the general economy, especially as
they affect interest rates; the federal, state, and local regulatory
environment; an increase in the prepayment rate on the loans that back
our mortgage-backed securities; the inability to borrow at favorable
rates; and the inability to maintain our REIT qualification.
Other risks, uncertainties, and factors that could cause actual
results to differ materially from those projected are detailed from
time to time in reports filed by us with the Securities and Exchange
Commission, including Forms 10-Q and 10-K. We undertake no obligation
to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
--30--jtp/ny*
CONTACT: Annaly Mortgage Management, Inc.
Kathryn F. Fagan
(888) 8Annaly
www.annaly.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: BANKING DIVIDEND
SOURCE: Annaly Mortgage Management, Inc.
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