Annaly Capital Management, Inc.
NLYReal Estate · Stock · quarterly payer
Forward Yield
13.04%
Annual Dividend
$3.00
Payout Ratio
90%
5-Yr Growth
-5.1%
Ex-Date
Jun 30, 2026
Frequency
Quarterly
Summary
As of July 2026, Annaly Capital Management, Inc. (NLY) yields 13.04% ($3.00 per share annually), with a blended fair-value estimate of $40.56 — +76% upside, so it screens as undervalued. Dividend safety grade: C (51/100). 1 years of dividend growth.
Is NLY a good dividend stock?
MixedAnnaly Capital Management, Inc. (NLY) pays a quarterly dividend yielding 13.04% ($3.00/yr), with 1 year of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
Risks
- Cut its dividend in 2023
- Elevated payout ratio (90%)
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 13.04%
- Payout Ratio
- 90%
- Annual Dividend
- $3.00
- 5-Yr Avg Growth
- -5.1%
- Ex-Dividend Date
- Jun 30, 2026
- Years of Growth
- 1
- Frequency
- quarterly
- Beta
- 1.24
- Market Cap
- $16.9B
- P/E Ratio
- 7.4
- 5-Yr Total Return
- -34%
- 52-Week Range
- $19.75 – $24.52
- Dividend Safety
- C · 51/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
NLY Price — Last 12 Months
Daily close
Price Return
1 Year
+9%
3 Years
+14%
5 Years
-34%
52-Week Range
$19.75 – $24.52
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NLY worth?
Undervaluedlow confidenceOur blended fair-value estimate for Annaly Capital Management, Inc. is $40.56 per share, versus a market price of $23.01. That implies 76% of upside — a margin of safety of about 43%.
Fair Value
$40.56
Current Price
$23.01
Upside
+76%
Margin of Safety
43%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Assumptions: 10.5% discount rate (CAPM), 3.7% stage-1 growth, 2.5% terminal growth, $3.10 EPS, $3.00 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NLY Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jun 30, 2026 | — | $0.7500 | regular |
| Mar 31, 2026 | — | $0.7000 | regular |
| Dec 31, 2025 | — | $0.7000 | regular |
| Sep 30, 2025 | — | $0.7000 | regular |
| Jun 30, 2025 | — | $0.7000 | regular |
| Mar 31, 2025 | — | $0.7000 | regular |
| Dec 31, 2024 | — | $0.6500 | regular |
| Sep 30, 2024 | — | $0.6500 | regular |
| Jun 28, 2024 | — | $0.6500 | regular |
| Mar 27, 2024 | — | $0.6500 | regular |
| Dec 28, 2023 | — | $0.6500 | regular |
| Sep 28, 2023 | — | $0.6500 | regular |
| Jun 29, 2023 | — | $0.6500 | regular |
| Mar 30, 2023 | — | $0.6500 | regular |
Income Calculator
At $3.00 / yr per share
