NLY-PF Preferred Stock — Annaly Capital Management Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred

Annaly Capital Management Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred (NLY-PF)

NLY-PF is a Preferred Stock. its distribution rate is 8.89%, its trailing-12-month yield is 8.90%. Dividend Vision Distribution Safety Score™ is 90/100 (Safe). Total return is 115.2% over the past 9.2 years, 145.4 points behind SPY at 260.6%.

At the current 8.89% distribution rate, a $10,000 investment would generate approximately $889 per year, or about $222.25 per quarter if the next payment matches the last regular one.

Annaly Capital Management is a mortgage REIT that invests in agency and non-agency residential mortgage-backed securities, mortgage servicing rights, commercial mortgage-backed securities, and related instruments. This Series F preferred stock pays distributions quarterly at a high current rate. The preferred shares appeal to income-focused investors seeking regular cash distributions, though preferred stockholders rank below debt holders in the capital structure and carry interest rate risk.

NLY-PF performance versus SPY

Price and return data through 2026-09-21.

Total return is 115.2% over the past 9.2 years, 145.4 points behind SPY at 260.6%. Over the past year its total return — price change plus distributions reinvested — is 9.1%. Its deepest 1-year drawdown was 2.0%.

NLY-PF key facts

Distribution Safety Score™

90 · Safe

Safety-Adjusted Yield

8.00%

Issuer

Annaly Capital Management

Asset type

Preferred Stock

Asset class

Equity

Distribution rate

8.89%

Distribution frequency

Quarterly

Trailing yield

8.90%

5-year average yield

8.93

Last close

$25.38 (as of 2026-09-21)

Market cap

$13,558,870,016

Average volume

108357.0

Next dividend

$0.5617

Last ex-dividend date

09/01/2026

Next payment date

09/30/2026

Beta

1.238

Payout ratio

0.0

P/E ratio

14.276

Forward P/E

0.0

EPS

$1.77

How Dividend Vision calculates yield and returns

Distribution rate (8.89%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (8.90%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Annaly Capital Management or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

NLY-PF risks and drawbacks

Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 2.0%.

Who may consider NLY-PF — and who may not

NLY-PF may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (NLY-PF pays quarterly); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

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