Who is Annaly Capital Management?
• Annaly Capital Management is a public company traded on the New York Stock Exchange under the ticker NLY. • The Company is organized as a real estate investment trust (REIT). REITs receive special tax treatment from the IRS. They do not have to pay corporate taxes on the money paid out as dividends to shareholders. This avoids the “double taxation” issue associated with most dividend payouts. • Our prime objective is to generate net income for distribution to investors from the spread between the interest income on our mortgage-backed securities and the cost of borrowing to finance their acquisition, and from the dividends we receive from FIDAC, which earns investment advisory fee income.
