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Annaly Capital Management, Inc. Message Board

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  • cmeng cmeng Nov 25, 2009 2:47 PM Flag

    66 billion in mortgatge backed securities?

    I expect that the increase in shares outstanding results from the dividend reinvestment plan. If shares are trading at above BV the company keeps the cash and issues new shares at market price value. Since it is a premium to BV it is a good deal for the existing shareholders and increases the BV for all. Should the mkt price be less than BV they will purchase the shares with the Reinvest Divvy cash.

    Your general thesis about dilution is nonsense.

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