Dallas, Texas 07/11/2013 (Financialstrend) – Annaly Capital Management, Inc. (NYSE: NLY) has announced an adjustment to the conversion rate for its 4.00% Convertible Senior Notes Due 2015. The adjustment to the conversion rate for the notes of common stock with cash dividend of $0.40 per share is being made pursuant to the governing indenture. The new conversion price for the notes is $13.3111 per common share, effective June 27, 2013. The conversion price for the notes was previously $13.7440 per common share. The new conversion rate for each $1,000 principal amount of notes is 75.1250 of the Company’s common shares. The conversion rate for principal amount of each $1,000 of notes was previously 72.7592 of the Company’s common shares. Notice of the conversion rate adjustment has been delivered to security holders and Wells Fargo Bank, National Association, the trustee. The company’s primary business objective is to produce net income for its shareholders from its investments. The Maryland-based Corporation is to be taxed as a real estate investment trust, which is commonly known as “REIT”.
Annaly Capital Management, Inc.’s (NYSE:NLY) share price declined by 1.96 percent on Wednesday, and closed at $11.53 per share for the day. Intraday prices for the stock touched a low of $11.47 and a high of $11.81 per share. Average trading volume stood at 16.42 million shares per day of trading. Annaly Capital Management, Inc. (NYSE:NLY) currently has a 52-week low price of $11.19 and a 52-week high price of $17.75 per share. The market cap is $10.92 billion with 947.37 million shares outstanding and 45% of institutional ownership.