By Connor Hart
The board of Annaly Capital Management has authorized a $1.5 billion share repurchase program.
The New York real-estate investment firm's board also approved Thursday a new preferred share repurchase program, under which it can buy back 63.5 million shares. These repurchases consist of up to 28.8 million shares of its 6.95% Series F stock, 17 million shares of its 6.50% Series G stock and 17.7 million of its 6.75% Series I stock.
Both programs are set to expire at the end of 2029. They replace the company's existing common-share and preferred-share programs, each of which expired Tuesday.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 02, 2025 17:26 ET (22:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.