Annaly Capital Cuts Its Dividend by 12%

Annaly Capital (NYSE: NLY) on Wednesday announced it was cutting its quarterly dividend by 12% to $0.22 per share.

"As we mentioned on our first quarter 2020 earnings call, we are constructive on the operating environment and anticipate core earnings will exceed our quarterly distribution for the second quarter," said the the real estate investment trust's CEO and CIO, David Finkelstein. "Together with our board, we have taken a measured approach to setting a dividend level we feel is sustainable in the current environment."

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Source Fool.com