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Annaly Capital Management, Inc. reports developments tied to its mortgage REIT platform and diversified investment strategies across mortgage finance. The company is internally managed and has elected REIT tax status, with business activity centered on Agency mortgage-backed securities, Residential Credit investments in non-Agency residential whole loans and securitized products, and Mortgage Servicing Rights.
Recurring updates include quarterly financial results, portfolio allocation, leverage and hedge disclosures, securitization activity, Onslow Bay correspondent loan activity, and cash dividends on common stock and Series F, Series G and Series J preferred stock. Annaly also announces earnings-call schedules and investor materials associated with its financial reporting cycle.
Annaly has declared cash dividends for its preferred stock series for Q2 2021. Shareholders will receive $0.434375 per share for Series F, $0.40625 for Series G, and $0.421875 for Series I. The dividends are payable on June 30, 2021, to shareholders of record as of June 1, 2021. Annaly is a diversified capital manager primarily focused on optimizing returns through investments in residential and commercial assets, structured as a real estate investment trust (REIT).
Annaly Capital Management (NLY) reported a GAAP net income of $1.23 per share for Q1 2021, a significant rise from $0.60 in Q4 2020. Core earnings were $0.29 per share, down slightly from the previous quarter. The quarterly dividend remains at $0.22 per share. Total assets reached $100.4 billion, with an Agency portfolio of $92.6 billion. The company announced the planned sale of its Commercial Real Estate business for $2.33 billion, enhancing its focus on residential mortgage finance while maintaining a low cost of interest at 0.42%.
Annaly Capital Management (NYSE:NLY) will release its financial results for Q1 2021 on April 28, 2021, post-market. A conference call to discuss these results will occur on April 29, 2021, at 9:00 a.m. ET. Investors can pre-register for the call via Annaly's website, allowing bypassing of the live operator. The call can also be accessed through a toll-free number. A replay will be available for one week afterwards. Annaly is a major diversified capital manager focused on residential and commercial assets, aiming to maximize returns for shareholders.
Annaly Capital Management (NYSE: NLY) has entered a definitive agreement to sell its Commercial Real Estate business to Slate Asset Management for $2.33 billion. This transaction includes equity interests, loan assets, and commercial mortgage-backed securities. Following the sale, key employees will transition to Slate. Annaly's CEO stated this move will enhance their focus on residential mortgage finance, a core strategy since 2013. The sale is expected to have an immaterial impact on financial metrics, including book value and dividends, with proceeds potentially used for targeted acquisitions.
Annaly Capital Management (NYSE: NLY) announced the appointment of Eric A. Reeves as an independent board member, effective March 19, 2021. Reeves brings extensive legal and investment experience, enhancing the board's capabilities. He aims to contribute to risk-adjusted returns in real estate and corporate lending. Reeves has held senior roles at Duchossois Capital Management and has a robust background in law. He will stand for re-election at the 2021 Annual Meeting of Stockholders.
Annaly operates as a diversified capital manager focusing on residential and commercial assets.
The Board of Directors of Annaly Capital Management (NYSE: NLY) has declared a cash dividend of $0.22 per common share for the first quarter of 2021. This dividend is scheduled for payment on April 30, 2021, to stockholders of record as of March 31, 2021, with the ex-dividend date set for March 30, 2021. Annaly focuses on generating net income through diversified investments in residential and commercial assets, managing its operations as a real estate investment trust (REIT).
Annaly has declared cash dividends for its Series F, G, and I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stocks for Q1 2021. The Series F dividend is set at $0.434375 per share, Series G at $0.40625, and Series I at $0.421875. These dividends are payable on March 31, 2021, to shareholders on record as of March 1, 2021. With a focus on generating net income for stockholders, Annaly continues to manage a diversified investment strategy as a REIT.
Annaly Capital Management reported its financial results for Q4 and the full year 2020. Highlights include a GAAP net income of $0.60 per share for Q4 and a net loss of $0.73 for the year. Core earnings were $0.30 per share in Q4, totaling $1.10 for the year. The company declared a quarterly dividend of $0.22 per share and achieved economic returns of 5.1% for Q4. Total assets stood at $101.6 billion, with a book value of $8.92 per share. Annaly's capital allocation towards credit businesses increased to 22%, while economic leverage remained stable at 6.2x.
Annaly Capital Management (NYSE:NLY) will release its financial results for Q4 and the year ending December 31, 2020, after market close on February 10, 2021. A conference call to discuss these results is scheduled for February 11, 2021, at 9:00 a.m. ET, encouraging participants to pre-register for quicker access. The call can be joined via U.S. toll-free and international call-in numbers. The replay of the call will be available for a week post-event. Annaly focuses on generating net income to distribute to its stockholders and is a real estate investment trust (REIT).
Annaly Capital Management (NYSE:NLY) has authorized a new share repurchase program to buy back up to $1.5 billion of its common stock through December 31, 2021. This program replaces the previous $1.5 billion program that expired on December 31, 2020. Repurchases will be conducted in the open market or through private transactions based on economic conditions and stock price. The program provides flexibility as it does not obligate the company to acquire any specific amount and may be suspended at its discretion.