SmarterDividends
NLY

Annaly Capital Management, Inc.

NLY

Real Estate · REIT - Mortgage · Stock · quarterly payer

$18.16

Undervalued · +155% Add to Portfolio

Forward Yield

16.52%

Annual Dividend

$2.85

Payout Ratio

70%

5-Yr Growth

-5.1%

Ex-Date

Sep 30, 2026

Frequency

Quarterly

Key facts about NLY's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 14, 2026, Annaly Capital Management, Inc. (NLY) has a forward dividend yield of 16.52%, based on an annual dividend of $2.85 per share and a share price of $18.16.
  • As of Oct 14, 2026, NLY's dividend safety grade from SmarterDividends is C (55 out of 100), which rates the dividend as borderline.
  • NLY last cut its regular dividend in 2023.
  • NLY's most recent ex-dividend date was Sep 30, 2026, for a dividend of $0.75 per share.
  • As of Oct 14, 2026, NLY pays out 70% of its trailing 12-month earnings as dividends (its payout ratio).
  • NLY's dividend has shrunk at an average rate of 5.1% a year over the past five years.
  • As of Oct 14, 2026, NLY's 16.52% yield is 27% above its five-year average yield of 12.98%.
  • As of Oct 14, 2026, SmarterDividends' blended fair-value estimate for NLY is $46.33 per share, 155% above the $18.16 share price, so NLY screens as undervalued.
  • Annaly Capital Management, Inc. (NLY) pays its dividend quarterly, 4 times a year.
Cite this page

SmarterDividends, "NLY Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 14, 2026, https://smarterdividends.com/stocks/NLY

Summary

As of Oct 14, 2026, Annaly Capital Management, Inc. (NLY) yields 16.52% ($2.85 a year per share) and has a dividend safety grade of C (55/100).

Is NLY a good dividend stock?

Mixed

Annaly Capital Management, Inc. (NLY) pays a quarterly dividend yielding 16.52% ($2.85/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
    • 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
    16.52%
    Payout Ratio
    70%
    Annual Dividend
    $2.85
    5-Yr Avg Growth
    -5.1%
    Ex-Dividend Date
    Sep 30, 2026
    Years of Growth
    1
    Frequency
    quarterly
    Beta
    1.28
    Market Cap
    $13.7B
    P/E Ratio
    4.5
    5-Yr Total Return
    -46%
    52-Week Range
    $17.76 – $24.52
    Dividend Safety
    C · 55/100
    Ever Cut?
    Yes (2023)
    NLY ex-dividend date & scheduleNext ex-date Sep 30, 2026 · full ex-dividend historyView →NLY dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is NLY a good dividend stock?

    Mixed. Annaly Capital Management, Inc. (NLY) pays a quarterly dividend yielding 16.52% ($2.85/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.

    Is NLY undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, NLY's fair value is about $46.33 versus a $18.16 share price — so it looks undervalued (+155% vs. fair value).

    Is NLY's dividend safe?

    NLY has a dividend-safety grade of C (55/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

    What is NLY's fair value?

    Our blended fair-value estimate for NLY is about $46.33 per share, roughly 155% above the current $18.16 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is NLY a buy, hold, or sell?

    We don't issue formal ratings, but on the data NLY screens as "mixed" and undervalued. Annaly Capital Management, Inc. (NLY) pays a quarterly dividend yielding 16.52% ($2.85/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. This is research for your own analysis, not investment advice.

    Will NLY cut its dividend?

    NLY earns a dividend-safety grade of C (55/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does NLY pay a dividend?

    Yes. Annaly Capital Management, Inc. pays a quarterly dividend of about $2.85 per share annually, a forward yield of roughly 16.52%.

    What is NLY's dividend yield?

    As of Oct 14, 2026, NLY's forward dividend yield is 16.52%, based on a $2.85 annual dividend and a $18.16 share price.

    What is NLY's dividend per share?

    As of Oct 14, 2026, NLY pays $2.85 per share per year, distributed on a quarterly basis.

    What is NLY's dividend payout ratio?

    As of Oct 14, 2026, NLY's payout ratio is 70% of trailing 12-month earnings — a moderate level that's generally sustainable.

    How many years has NLY grown its dividend?

    As of Oct 14, 2026, NLY has increased its dividend for 1 consecutive years.

    When is the next NLY ex-dividend date?

    As of Oct 14, 2026, NLY's next ex-dividend date hasn't been announced. The most recent was Sep 30, 2026, for $0.75 per share.

    NLY Dividend News

    NLY
    IncreaseNLY·Jul 1, 2026

    Annaly Raises Quarterly Dividend 7.1% to $0.75

    Annaly raised its quarterly payout to $0.75 a share, lifting the forward yield to 14.26%, as portfolio earnings continued to cover the dividend in 2026.

    Income Calculator

    At $2.85 / yr per share

    Per payment (quarterly)$71.25
    Annual$285.00
    Monthly avg$23.75

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