Key Highlights

  • A 94% calculated Payout Ratio results from the USD 0.75 third-quarter common dividend, measured against Earnings available for distribution of USD 0.80 per share, which gives coverage of 1.07 times.
  • Paid on October 30, 2026, 30 days after the September 30, 2026 record date, the Dividend equalled a calculated annualized USD 3.00 per share, set against total earnings available for distribution of USD 649.1 million.
  • Book value per common share dropped by a calculated 11.4%, landing at USD 17.86 on September 30, 2026 versus USD 20.15 on June 30, 2026, and economic return registered negative 7.6%.
  • Economic Leverage moved up to 5.9 times from 5.6 times, while only USD 8.5 billion of Assets were available for financing and cash plus unencumbered Agency MBS totalled USD 4.2 billion across a USD 106.5 billion portfolio.

Declaration Timing and Payout Math for Annaly Capital Management, Inc. (NYSE:NLY)

On September 9, 2026, the board of Annaly Capital Management, Inc. (NYSE:NLY) declared a third-quarter 2026 common payout of USD 0.75 per share. Holders of record on September 30, 2026 received it on October 30, 2026. Annualized, the amount works out to USD 3.00 per share (calculated), or 16.8% of the Book Value per common share at September 30, 2026 (calculated). Across 784,673,349 common shares outstanding, the aggregate common cost comes to USD 588.5 million (calculated). On October 1, 2026, the company retired its entire USD 442.5 million of Series I preferred stock, while preferred stock outstanding stood at USD 1.8 billion.

Distributable Earnings Versus GAAP Losses at Annaly Capital Management, Inc. (NYSE:NLY)

Coverage is judged on earnings available for distribution, a non-GAAP yardstick. The total reached USD 649.1 million, while common stockholders received USD 607.8 million, or USD 0.80 per share, which the chief executive again described as above the dividend. Counting GAAP, the company reported a net loss attributable to it of USD 1,001.8 million, or USD 1.36 per share, because Investment and other losses of USD 4.72 billion were largely countered by USD 3.07 billion of derivative gains. Residential whole Loan fundings hit a record USD 5.8 billion, and twelve securitizations totalling a record USD 7.4 billion backed the Credit business.

Balance Sheet Strength and Leverage Pressures at Annaly Capital Management, Inc. (NYSE:NLY)

Equity totalled USD 15.9 billion, and the GAAP capital ratio of 10.9% sat beside an economic capital ratio of 14.2%. Of the USD 106.5 billion portfolio, USD 91.8 billion sat in Agency MBS. Residential Credit reached USD 10.4 billion, equal to 23% of dedicated capital, while Mortgage servicing rights were valued at USD 4.3 billion, or 22%. Agency made up 55% of dedicated capital, and Warehouse capacity totalled USD 8.3 billion, of which USD 2.8 billion was committed. GAAP leverage climbed to 8.0 times from 7.4 times, and spread widening, rate swings, shifts in prepayments and credit performance are the main risks for Annaly Capital Management, Inc. (NYSE:NLY).

Where Things Stand

Coverage holds on the company's own measure, because earnings available for distribution of USD 0.80 per share exceeded the USD 0.75 payout, a strength the chief executive highlighted. That came at a price: book value slid USD 2.29 to USD 17.86 per common share during a rough stretch for fixed income. Management pointed to low leverage and little duration exposure as sources of flexibility, and Annaly Capital Management, Inc. (NYSE:NLY) raised USD 757 million through at-the-market issuance. No numeric earnings or dividend guidance was issued, and every future dividend still needs board approval.