By Connor Hart
The board of Annaly Capital Management has authorized a $1.5 billion share repurchase program.
The New York real-estate investment firm's board also approved Thursday a new preferred share repurchase program, under which it can buy back 63.5 million shares. These repurchases consist of up to 28.8 million shares of its 6.95% Series F stock, 17 million shares of its 6.50% Series G stock and 17.7 million of its 6.75% Series I stock.
Both programs are set to expire at the end of 2029. They replace the company's existing common-share and preferred-share programs, each of which expired Tuesday.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 02, 2025 17:26 ET (22:26 GMT)
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