Annaly Mortgage Management, Inc. Announces Strong Third Quarter 1998 Dividend
NEW YORK, Sept. 23 /PRNewswire/ -- The Board of Directors of Annaly Mortgage Management, Inc. (NYSE: NLY) declared a third quarter 1998 dividend of $0.27 per share of common stock, payable out of the undistributed taxable earnings of the Company. This dividend is payable on October 21, 1998, to common shareholders of record as of October 5, 1998.
"Annaly Mortgage Management, Inc. continues to pay to its shareholders a strong quarterly dividend in an interest rate and investment climate that has challenged companies and investors domestically as well as internationally. The Company's operating structure and asset allocation have been validated during a period when book values and earnings of many of our peers have been seriously impaired. We continue to monitor our portfolio as we proceed into this lower interest rate climate," stated Timothy J. Guba, President and Chief Operating Officer. The Company has proceeded with the stock repurchase plan adopted by the Board of Directors on June 25, 1998.
Annaly Mortgage Management, Inc., a mortgage acquisition company, specializes in acquiring and managing mortgage assets secured by single-family, multifamily and commercial properties located throughout the United States. Currently, all of the assets are GNMA, FHLMC or Fannie Mae securities secured by single-family conforming loans. Its mortgage acquisitions are financed by a combination of equity and proceeds from borrowings. The Company is a real estate investment trust (REIT) and currently has 12,653,074 shares of common stock outstanding. |
