Annaly Capital Management is apparently on a diet as far as its shareholder payout is concerned. The real estate investment trust has declared a common stock dividend of $0.35 per share for its Q3, to be dispensed on October 31 to shareholders of record as of October 1. That amount is $0.05, or 13% less than the firm's previous distribution of $0.40, which was paid at the end of July. That, in turn, was $0.05 below the preceding payout of $0.45.
The firm is a consistent dividend payer, although, as a REIT, that distribution can vary considerably. The just-announced disbursement is Annaly's lowest since January 2008.
The new dividend annualizes to $1.40 per share. That yields 11.4% at the company's most recent closing stock price of $12.25.
The article Annaly Cuts Dividend Again originally appeared on Fool.com.
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