Annaly Capital Management Inc. (NYSE: NLY) announced plans to redeem all outstanding shares of its 6.750% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock.
The redemption will total $442.5 million, equivalent to $25 per share, covering 17.7 million outstanding shares. The transaction is scheduled for October 1, 2026, with Computershare Inc. acting as the redemption and paying agent.
Dividends on the Series I Preferred Stock will cease to accumulate on the redemption date, though Annaly has declared and will pay all accrued dividends through September 30, 2026. Shareholders must surrender their certificates to Computershare to receive the redemption payment.
Annaly, an internally managed diversified capital manager and real estate investment trust (REIT), did not provide additional rationale for the redemption in its announcement.
