Annaly Capital authorizing buyback program for up to $1.5B

The company states: “On December 31, 2024, the Board of Directors of Annaly Capital (NLY) Management authorized a new common share repurchase program and a new preferred share repurchase program, each of which shall expire on December 31, 2029. Under the common share repurchase program, the Company may repurchase up to $1.5 billion of its outstanding shares of common stock. Under the preferred share repurchase program, the Company may repurchase up to an aggregate of 63,500,000 shares of its preferred stock, comprised of up to (i) 28,800,000 shares of its 6.95% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share, (ii) 17,000,000 shares of its 6.50% Series G Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share, and (iii) 17,700,000 shares of its 6.75% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share.”