gawrav
On September 30, the Annaly Capital Cumulative Fixed-to-Floating Rate Preferred Series F (NLY.PF) converts to 3-month LIBOR plus 4.99 percentage points. That will be a 23% dividend increase with current LIBOR at 3.6%. Even higher after the Fed raises rate again.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of NLY.PF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
I doubled my position today at $22.50 per share.
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