This Ultra-High-Yield Stock Is Cutting Its Dividend Again. Here's A Better Buy.
Annaly Capital Management (NYSE: NLY) has an atrocious dividend track record. The mortgage REIT the week officially announced it was reducing its payout again -- as management telegraphed that it would last month -- continuing a steady decline that has been going on for the past decade. While Annaly still offers a big-time yield, its payout could keep falling.