NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”)
today announced that its Board of Directors has authorized the
repurchase of up to $1 billion of its outstanding common shares through
December 31, 2016.
Purchases made pursuant to the program will be made in either the open
market or in privately negotiated transactions from time to time as
permitted by securities laws and other legal requirements. The timing,
manner, price and amount of any repurchases will be determined by the
Company in its discretion and will be subject to economic and market
conditions, stock price, applicable legal requirements and other
factors. The authorization does not obligate the Company to acquire any
particular amount of common shares and the program may be suspended or
discontinued at the Company’s discretion without prior notice. The Board
will assess the effects of this program at its completion.
About Annaly
Annaly’s principal business objective is to generate net income for
distribution to its shareholders from its investments. Annaly is a
Maryland corporation that has elected to be taxed as a real estate
investment trust (“REIT”). Annaly is managed and advised by Annaly
Management Company LLC.
Other Information
This news release and our public documents to which we refer contain or
incorporate by reference certain forward-looking statements which are
based on various assumptions (some of which are beyond our control) and
may be identified by reference to a future period or periods or by the
use of forward-looking terminology, such as “may,” “will,” “believe,”
“expect,” “anticipate,” “continue,” or similar terms or variations on
those terms or the negative of those terms. Actual results could differ
materially from those set forth in forward-looking statements due to a
variety of factors, including, but not limited to, changes in interest
rates; changes in the yield curve; changes in prepayment rates; the
availability of mortgage-backed securities and other securities for
purchase; the availability of financing and, if available, the terms of
any financings; changes in the market value of our assets; changes in
business conditions and the general economy; our ability to grow the
commercial mortgage business; credit risks related to our investments in
Agency CRT securities, commercial real estate assets, residential
mortgage-backed securities and related residential mortgage credit
assets and corporate debt; our ability to grow our residential mortgage
credit business; changes in government regulations affecting our
business; our ability to maintain our qualification as a REIT for
federal income tax purposes; and our ability to maintain our exemption
from registration under the Investment Company Act of 1940, as amended.
For a discussion of the risks and uncertainties which could cause actual
results to differ from those contained in the forward-looking
statements, see “Risk Factors” in our most recent Annual Report on Form
10-K and any subsequent Quarterly Reports on Form 10-Q. We do not
undertake, and specifically disclaim any obligation, to publicly release
the result of any revisions which may be made to any forward-looking
statements to reflect the occurrence of anticipated or unanticipated
events or circumstances after the date of such statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150805006579/en/
Annaly Capital Management, Inc.
Investor Relations, 888-8Annaly
Source: Annaly Capital Management, Inc.