NLY Dividend Yield 2026: Annaly Capital Management, Inc.

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Data last updated: Sep 02, 2026

Snapshot (as of Sep 02, 2026): Annaly Capital Management, Inc. (NLY) pays a $2.85 annual dividend ($0.75 quarterly), yielding 12.60% at $22.62/share. Next ex-dividend date 2026-06-30. Source: Yahoo Finance, aggregated by MerryDiv.

Dividend Yield: 12.60%

Annual Dividend: $2.85 per share

Payout Ratio: 71.1%

Ex-Dividend Date: 2026-06-30

Dividend Frequency: quarterly

Sector: Real Estate

Years of Dividend History: 30

About Annaly Capital Management, Inc. Dividend

Annaly Capital Management, Inc. dividend income comes from one of the largest mortgage REITs in the United States, investing across agency and non-agency mortgage-backed securities, residential mortgage loans, and middle-market corporate lending. NLY currently pays $2.85 per share annually, with dividends distributed quarterly and the next ex-dividend date set for June 30, 2026. The current yield stands at 12.37%. With a beta of 1.239, NLY stock carries above-average price volatility, making it a fit for income-focused investors who can tolerate swings in share price.

Dividend Safety

Annaly Capital Management, Inc. pays out 71.1% of earnings as dividends, a payout ratio classified as elevated (60–75%). That level leaves a meaningful buffer above a full payout, supported by NLY's REIT structure, which requires distributing the majority of taxable income and exempts the company from federal corporate income tax. Annaly Capital Management, Inc. dividend safety faces pressure from the nature of its core assets: mortgage-backed securities and mortgage loans are sensitive to interest rate movements, which can compress net interest margins and reduce distributable income.

Annaly Capital Management, Inc. (NLY) Dividend Growth Rate, CAGR, and History

Annaly Capital Management, Inc. dividend history shows a CAGR of 1.8% per year from 2008 to 2025. Per-share payments moved from $2.08 to $2.80 over that span (2026 data is a partial year and excluded from the CAGR). The largest annual increase in the window was 150.0% in 2022, reflecting a sharp recovery from the cuts seen in 2019 through 2021. Growth is slow on a long-run basis, and the history includes multiple year-over-year declines, so NLY is not a dividend-growth story.

Annaly Capital Management, Inc. Dividend Growth Rate (CAGR)

Period	CAGR	From	To
3-Year	+8.4%	$2.20 (2022)	$2.80 (2025)
5-Year	+25.2%	$0.91 (2020)	$2.80 (2025)
10-Year	+8.8%	$1.20 (2015)	$2.80 (2025)

Is Annaly Capital Management, Inc. a Good Dividend Stock?

NLY fits income-focused investors who prioritize yield over growth and accept meaningful volatility. The yield is classified as high (above 4%), currently at 12.37%, well above the 5-year average of 9.62%, which signals that the market is pricing in elevated risk. Four consecutive years of dividend increases show recent momentum, but the longer history includes cuts, so the income stream is not unconditional. What an investor gets here is a double-digit yield backed by a diversified mortgage REIT structure. What they accept is a payout ratio at the elevated end and a business model sensitive to interest rate shifts.

Recent Annaly Capital Management, Inc. Dividend Payments

Payment Date	Amount per Share
2026-06-30	$0.7500
2026-03-31	$0.7000
2025-12-31	$0.7000
2025-09-30	$0.7000
2025-06-30	$0.7000
2025-03-31	$0.7000
2024-12-31	$0.6500
2024-09-30	$0.6500
2024-06-28	$0.6500
2024-03-27	$0.6500

Annaly Capital Management, Inc. Annual Dividend History

Year	Total Dividends
2026	$1.4500
2025	$2.8000
2024	$2.6000
2023	$2.6000
2022	$2.2000

Related Real Estate Dividend Stocks

• WELL — Welltower Inc. (1.28% yield)
• PLD — Prologis, Inc. (2.98% yield)
• AMT — American Tower Corporation (3.97% yield)
• PSA — Public Storage (3.83% yield)
• O — Realty Income Corporation (5.28% yield)
• VTR — Ventas, Inc. (2.18% yield)

Frequently Asked Questions

Does NLY pay dividends?

Yes, Annaly Capital Management, Inc. (NLY) pays a $0.75 quarterly dividend per share, yielding 12.60%.

How often does Annaly Capital Management, Inc. pay dividends?

Annaly Capital Management, Inc. pays dividends quarterly. The last dividend was $0.75 per share, with the next ex-dividend date set for June 30, 2026.

What is Annaly Capital Management, Inc.'s current dividend yield?

The current NLY dividend yield is 12.37%. That is above the 5-year average yield of 9.62%, placing it at the higher end of its own recent history.

Has Annaly Capital Management, Inc. ever cut its dividend?

Yes. The available history shows multiple year-over-year declines, including drops from $2.05 in 2012 down to $0.88 by 2021. The dividend recovered sharply starting in 2022.

How fast has Annaly Capital Management, Inc. grown its dividend?

The compound annual growth rate (CAGR) is 1.8% per year from 2008 to 2025. That is slow growth, and the history includes cuts, so the long-run trend is not a straight line upward.

Is Annaly Capital Management, Inc. a good dividend stock for income investors?

NLY offers a 12.37% yield with a 71.1% payout ratio classified as elevated, making it a high-yield option for income-focused investors. The trade-off is a history of dividend cuts and above-average price volatility reflected in a beta of 1.239.

Is Annaly Capital Management, Inc. dividend safe?

The 71.1% payout ratio is elevated but not extreme, and the REIT structure requires distributing most taxable income. However, the dividend has been cut before, and the mortgage-focused business model is sensitive to interest rate changes.

Why is Annaly Capital Management, Inc. dividend yield high?

The 12.37% yield reflects a combination of a $2.85 annual payout and a stock price that prices in meaningful risk. The elevated payout ratio of 71.1% and a history of dividend cuts contribute to the market demanding a higher yield.

How does Annaly Capital Management, Inc. compare to its own historical yield?

At 12.37%, the current yield is above the 5-year average of 9.62%. That gap of nearly 2.75 percentage points means the current income rate is elevated relative to what NLY stock has typically offered over the past five years.

Latest NLY News

• Annaly Capital (NYSE: NLY) calls all 6.75% Series I preferred - Stock Titan — Stock Titan
• Annaly Preferred Dividends Are Payable Sept. 30 at Up to 8.99% - Stock Titan — Stock Titan
• 9% Dividend Yield From Annaly's Best Preferred Share (NYSE:NLY.PR.I) - Seeking Alpha — Seeking Alpha

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