Annaly Reports Strong Third Quarter 1998 Earnings
NEW YORK, Oct. 22 /PRNewswire/ -- Annaly Mortgage Management, Inc.
(NYSE: NLY) today reported earnings for the quarter ended Sept. 30, 1998 of
$3,708,656, or $0.29 basic earnings per average share outstanding. This is an
increase over the quarter ended June 30, 1998 earnings of $3,386,530, or $0.27
basic earnings per average share outstanding. The increase is a result of an
increase in gains on disposition of assets. Gains totaled $993,630 for the
quarter ended Sept. 30, 1998, compared to $295,875 for the second quarter of
1998. Annaly's main objective is to earn income from the interest rate spread
between interest-earning assets and interest-bearing liabilities; therefore,
gains may not be recurring. On Sept. 23, 1998, the Company declared a
dividend of $0.27 per share for the third quarter 1998. Dividends declared
were from earnings and not a distribution of capital. |
