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Data last updated: Jul 18, 2026
Snapshot (as of Jul 18, 2026): Annaly Capital Management, Inc. (NLY) pays a $2.85 annual dividend ($0.75 quarterly), yielding 12.39% at $23.01/share. Next ex-dividend date 2026-06-30. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 12.39%
Annual Dividend: $2.85 per share
Payout Ratio: 91.7%
Ex-Dividend Date: 2026-06-30
Dividend Frequency: quarterly
Sector: Real Estate
Years of Dividend History: 30
Annaly Capital Management, Inc. dividend income comes from one of the largest mortgage REITs in the United States. NLY invests across agency and non-agency mortgage-backed securities, residential and commercial mortgage loans, and mortgage servicing rights, deploying capital through a structure that requires distributing the majority of taxable earnings to shareholders. The trailing annual dividend rate is $2.85 per share, paid quarterly, with the next ex-dividend date on June 30, 2026. At a 12.63% yield, this stock is built for income-focused investors who prioritize cash flow over price appreciation.
Annaly Capital Management, Inc. pays out 91.7% of earnings as dividends, a payout ratio classified as high (above 75%). That level is common for mortgage REITs, since NLY's REIT structure legally requires distributing the majority of taxable income, leaving little retained earnings as a buffer. Annaly Capital Management, Inc. dividend safety is further complicated by a beta of 1.246, meaning the stock moves more than the broader market, and the dividend history shows multiple year-over-year declines between 2012 and 2021, which is the most significant data-supported pressure point for income investors.
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 is a partial year and excluded from the growth calculation). The largest annual increase in the window was 150.0% in 2022, which followed a period of deep cuts, so that spike reflects recovery rather than sustained acceleration. Growth is slow, and the path was far from linear.
| 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) |
NLY stock is built for income-focused investors who want a high cash yield from mortgage-related assets and can accept meaningful volatility. The current yield of 12.63% is well above the high (above 4%) threshold and sits notably above NLY's own 5-year average yield of 9.82%, which signals the current payout is elevated relative to recent norms. The 91.7% payout ratio leaves little room for error, and the dividend history includes multiple cuts over the past decade. What an investor gets is one of the highest yields available in the REIT sector. What they accept is a history of dividend reductions and a payout structure with limited cushion.
| 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 |
| Year | Total Dividends |
|---|---|
| 2026 | $1.4500 |
| 2025 | $2.8000 |
| 2024 | $2.6000 |
| 2023 | $2.6000 |
| 2022 | $2.2000 |
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