Dynex Capital (DX) Declares $0.13 Monthly Dividend; Announces Certain Preliminary Financial Results

Dynex Capital (NYSE: DX) declared a monthly dividend of $0.13 per share, or $1.56 annualized.

The dividend will be payable on November 1, 2022, to stockholders of record on October 21, 2022, with an ex-dividend date of October 20, 2022.

The annual yield on the dividend is 13.4 percent.

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Dynex Capital, Inc. (NYSE: DX) ("Dynex" or the "Company") announced today that the Company's Board of Directors declared a cash dividend of $0.13 per common share for October 2022. The dividend is payable on November 1, 2022 to shareholders of record on October 21, 2022. The Company also announced certain preliminary information about its financial condition as of September 30, 2022.

"Dynex is continuing our policy of transparency and sharing our views of the macroeconomic environment during these volatile times," said Byron L. Boston, Chief Executive Officer and Co-Chief Investment Officer. "We have maintained our disciplined approach to managing our portfolio and over the last several years we have built a more liquid balance sheet and larger capital base to weather market volatility. Our portfolio continues to consist primarily of the most liquid assets in the Agency MBS space, which are readily financeable in the repo markets." Mr. Boston continued, "We estimate our book value as of September 30, 2022 to be in the range of $14.15 to $14.45 per common share, a decline from $16.79 as of June 30, 2022 primarily related to market spread widening. We have liquidity, experience, and a disciplined approach to be opportunistic investors in this evolving and complex market." Mr. Boston concluded, "We look forward to providing further details and a market update during our earnings call on October 24, 2022.”

The Company has not yet completed its quarterly financial close process for the three months ended September 30, 2022. This press release does not present all necessary information for a complete understanding of Dynex's financial condition and results of operations as of and for the three months ended September 30, 2022. As Dynex completes its financial close process, it is possible that the Company may identify items that require adjustments to the preliminary financial results set forth above, and those adjustments could be material. The Company intends to release more complete financial results for the third quarter in its earnings call on October 24, 2022. Until that time, the preliminary financial results described in this release are estimates and remain subject to change pending completion of the Company's quarterly financial close process.

For a dividend history and other dividend-related data on Dynex Capital (DX) click here.

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