NEW YORK--(BUSINESS WIRE)--Dec. 20, 2004--The Board of Directors
of Annaly Mortgage Management, Inc.
(NYSE: NLY) declared the fourth
quarter 2004 common stock cash dividend of $0.50 per common share. The
annualized dividend yield for the quarter, based on the December 17,
2004 closing price of $20.16, was 9.9%. This dividend is payable
January 27, 2005 to common shareholders of record on December 31,
2004. The ex-dividend date is December 29, 2004. It continues to be
the intention of the Company not to return capital to shareholders.
Wellington Denahan-Norris, Vice Chairman and Chief Investment
Officer of Annaly, commented on the dividend: "Our team continues to
deliver consistent results. They have done a remarkable job managing
through several interest rate hikes, a flattening yield curve and
fluctuating prepayment speeds. We believe these volatile conditions
are likely to continue, in which case we expect our portfolio to
continue to demonstrate its ability to adapt to and perform well in a
changing market environment."
Dividends may be reinvested through Annaly's Dividend Reinvestment
Plan. Plan information may be obtained from the Plan Administrator,
ChaseMellon Shareholder Services at 1-800-842-7629, at www.annaly.com,
or by contacting the Company.
Annaly Mortgage Management, Inc.
, a Maryland corporation, owns and
manages a portfolio of mortgage-backed securities. The Company's
principal business objective is to generate net income for
distribution to stockholders from the spread between the interest
income on its assets and the costs of borrowing to finance its
acquisition of these assets. Through its wholly-owned taxable REIT
subsidiary, FIDAC, the Company generates fee income from managing,
assisting in managing or supervising portfolios for a wide variety of
clients on a discretionary basis. The Company has elected to be taxed
as a real estate investment trust (REIT) and currently has 121,254,712
shares of common stock outstanding.
This news release and our public documents to which we refer
contain or incorporate by reference certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements which are based on various assumptions (some of which are
beyond our control) may be identified by reference to a future period
or periods or by the use of forward-looking terminology, such as
"may," "will," "believe," "expect," "anticipate," "continue," or
similar terms or variations on those terms or the negative of those
terms. Actual results could differ materially from those set forth in
forward-looking statements due to a variety of factors, including, but
not limited to, changes in interest rates, changes in yield curve,
changes in prepayment rates, the availability of mortgage-backed
securities for purchase, the availability of financing and, if
available, the terms of any financing, FIDAC's clients removal of
assets FIDAC manages, FIDAC's regulatory requirements, and competition
in the investment management business. For a discussion of the risks
and uncertainties which could cause actual results to differ from
those contained in the forward-looking statements, see "Risk factors"
in our Annual Report on Form 10-K for the fiscal year ended December
31, 2003. We do not undertake, and specifically disclaim any
obligation, to publicly release the result of any revisions which may
be made to any forward-looking statements to reflect the occurrence of
anticipated or unanticipated events or circumstances after the date of
such statements.
CONTACT: Annaly Mortgage Management, Inc.
Investor Relations, 888-8Annaly
www.annaly.com
SOURCE: Annaly Mortgage Management, Inc.