Annaly Mortgage Management, Inc. Declares First Quarter 2000 Dividend
NEW YORK--(BUSINESS WIRE)--March 29, 2000--The Board of Directors of Annaly Mortgage Management, Inc. (NYSE: NLY - news) declared the first quarter 2000 common stock dividend of $0.35 per share. The $0.35 per share dividend represents a 6% increase from the first quarter 1999 dividend of $0.33. This dividend is payable on April 28, 2000, to common shareholders of record as of April 5, 2000. The dividend is paid from earnings and is not a return of stockholder equity.
Timothy J. Guba, President and Chief Operating Officer stated ``Annaly's history of paying exemplary dividends to our loyal shareholders throughout our history remains untainted in yet another period of challenging times in the fixed income and mortgage backed markets. We would like to remind our shareholders that dividends may be reinvested through Annaly's Dividend Reinvestment and Share Purchase Plan.'' Information regarding this plan may be obtained from the Plan Administrator, ChaseMellon Shareholder Services, by calling toll free 800-842-7629 or by contacting the Company.
Annaly Mortgage Management, Inc., a Maryland corporation, owns and manages a portfolio of mortgage-backed assets. The Company's principal business objective is to generate net income for distribution to stockholders from the spread between the interest income on its assets and the costs of borrowing to finance its acquisition of these assets. The Company has elected to be taxed as a real estate investment trust (REIT) and currently has 13,899,689 shares of common stock outstanding.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Annaly Mortgage Management, Inc.'s business which are not historical facts are ``forward-looking statements'' that involve risks and uncertainties. For discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statement, see ``Risk Factors'' in the Company Registration Statement and 1999 Form 10K filed with the Securities and Exchange Commission.