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UPDATE 1-Annaly Capital Q1 core profit rises; cuts dividend

Mon May 3, 2010 4:57pm EDT

* Core EPS $0.62 vs $0.56 last yr

* Net interest income up 12 pct at $377.9 mln

* Cuts dividend by 13 percent

May 3 (Reuters) - Annaly Capital Management Inc's (NLY.N) quarterly core earnings rose, helped by a 12 percent jump in net interest income, but cut its dividend.

The company said it will pay 65 cents a share dividend for the quarter ended March 31, down from 75 cents a share in the quarter ended Dec. 31, 2009.

The mortgage real estate investment trust (REIT) reported a first-quarter net income of $281.1 million, or 50 cents a share, compared with $349.9 million, or 64 cents a share last year.

However, core earnings increased to $350.8 million, or 62 cents per share, from $309.3 million, or 56 cents a share, a year ago.

Net interest income rose to $377.9 million for the quarter, from $337.4 million a year earlier.

Shares of the company were down 1 percent at $16.86 after the bell. They closed at $17.11 Monday on the New York Stock Exchange. (Reporting by Archana Shankar in Bangalore)

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Comments (3)
Igneous wrote:
BOO HISS – I thought you guys were legit – your headline is 45 days late and your content misleading. “The company said it will pay 65 cents a share dividend for the quarter ended March 31, down from 75 cents a share in the quarter ended Dec. 31, 2009″ – THIS IS NOT NEW NEWS!!! –
HEY PAL “IT WILL?” the dividend was paid over a week ago. What kind of idiots do you have working for you. – I signed up to express my disgust. Now to cancel my registration. Your kind of irresponsibility is what’s wrong with todays information technology age. Your name is mud to me now.

May 04, 2010 10:08am EDT  --  Report as abuse
Questar3699 wrote:
Annaly Capital formally announced the dividend reduction back on March 22. Did you guys at Reuters miss that? Hard to understand why it’s in the headlines today.

May 04, 2010 10:31am EDT  --  Report as abuse
jameswedel wrote:
I noticed the author was in Bangalore—maybe news travels slow down there! But I agree—this web service is useless!

May 04, 2010 3:41pm EDT  --  Report as abuse
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