The Raise That Fuels These Big Dividends

Annaly expects to raise $2.1 billion this time (gross of expenses and before underwriter options), after raising $1.3 billion in January and again in February. That's a total of $4.7 billion for a $14.7 billion company. Normally, when you see a company this hot for capital in such a short period of time, it's a big red flag; such businesses usually aren't dealing from a position of strength. Recall the big banks' efforts to raise capital during and immediately after the financial crisis.... Read more