PRESS RELEASE FOR IMMEDIATE RELEASE CONTACT: Alison Griffin April 22, 2024 (804) 217-5897 DYNEX CAPITAL, INC. ANNOUNCES FIRST QUARTER 2024 RESULTS GLEN ALLEN, Va. -- Dynex Capital, Inc. ("Dynex" or the "Company") (NYSE: DX) reported its first quarter 2024 financial results today. Management will host a call today at 10:00 a.m. Eastern Time to discuss the results and business outlook. Details to access the call can be found below under "Earnings Conference Call." Financial Performance Summary Management Rema ...

GLEN ALLEN, Va.--(BUSINESS WIRE)--Dynex Capital, Inc. (NYSE: DX) (the “Company”) announced today that its Board of Directors (the “Board”) has appointed Andrew Gray and Alexander Crawford as independent directors, effective March 6, 2024. Mr. Gray has been appointed to the Audit Committee, Compensation Committee, and Investment Committee, and Mr. Crawford has been appointed to the Audit Committee, Compensation Committee, Strategy Committee, and Investment Committee. Today's announcement reflects the Company ...

Lemon_tm/iStock via Getty Images Welcome to another installment of our Preferreds Market Weekly Review, where we discuss preferred stock and baby bond market activity from both the bottom-up, highlighting individual news and events, as well as the top-down, providing an overview of the broader market. We also try to add some historical context as well as relevant themes that look to be driving markets or that investors ought to be mindful of. This update covers the period through the third week of Febru ...

UNITED STATES | SECURITIES AND EXCHANGE COMMISSION | | --- | | Washington, DC 20549 | | FORM 10-K | | Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ☒ | | For the fiscal year ended December 31, 2023 | | or | | ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | Commission File Number: 001-09819 | | DYNEX CAPITAL, INC. | | (Exact name of registrant as specified in its charter) | | Virginia 52-1549373 | | (State or other jurisdic ...

sakchai vongsasiripat/Moment via Getty Images It's been a few months since we covered Dynex Capital (NYSE:DX). Since then, the mortgage REIT has performed staggeringly well. Sure, much of its momentum has been due to a broad-based market upturn. Nevertheless, Dynex has returned well for a fixed-income asset. Previous Rating on DX (Seeking Alpha) With Dynex's performance in arrears, it's time to re-engage and provide a fresh outlook. A Turning point Has Emerged Funding and Asset Spreads Let's start off by lo ...

GLEN ALLEN, Va.--(BUSINESS WIRE)--Dynex Capital, Inc. (NYSE: DX) announced today the Company’s Board of Directors declared a cash dividend of $0.13 per common share for February 2024. The dividend is payable on March 1, 2024, to shareholders of record on February 23, 2024. About Dynex Capital Dynex Capital, Inc. is a financial services company committed to ethical stewardship of stakeholders' capital; employing comprehensive risk management and disciplined capital allocation to generate dividend income an ...

GLEN ALLEN, Va.--(BUSINESS WIRE)--Dynex Capital, Inc. (“Dynex” or the “Company”) (NYSE: DX) today announced the tax treatment of common stock and preferred stock dividends declared in 2023. Dividend Tax Information We are providing the information below to assist shareholders with their tax reporting requirements relating to the dividend distributions by Dynex. Shareholders should review the 2023 tax statements and/or Forms 1099 that they receive from their brokerage firms to ensure that the dividend dist ...

bestdesigns Co-authored by Treading Softly. When it comes to the market, 2020 through 2023 were very interesting times. There aren't many times within the history of the stock market that you can compare and have similar circumstances occur as we saw in those three years. The market crashed from COVID, recovered, went into a bear market in 2022, and is recovering again. For many, they can point to the stock market and say, "Look at how well it has done!" yet many investors are looking at their portfolios an ...

Financial Data and Key Metrics Changes - The company reported an economic return of 11.8% for Q4 2023 and 1% for the entire year, with a total shareholder return of 12% for 2023 [29][27] - Book value increased over 20% from the lows discussed in the previous quarterly earnings call [31] - The company started the year with leverage of 6.1 turns and assets of $5.9 billion, which increased to $7.4 billion by year-end [10][30] Business Line Data and Key Metrics Changes - The company rotated its portfolio from approximately 50% pools and 50% TBAs to 80% pools and 20% TBAs, improving its convexity profile and locking in attractive yields [11] - The company maintained its hedge portfolio and positioned for a steeper yield curve environment, which is expected to benefit future financing costs [12][40] Market Data and Key Metrics Changes - The company noted that the investment opportunity in Agency RMBS is historic, with a significant shift in the market dynamics due to the Fed and GSEs stepping back [8][18] - The company observed that spreads widened dramatically throughout the year due to various crises, but it opportunistically added to its portfolio during these times [30][55] Company Strategy and Development Direction - The company aims to grow its business and offer its value proposition to more shareholders, focusing on ethical management and long-term returns [9][18] - The management emphasized the importance of navigating through macroeconomic conditions and government policies, especially with upcoming elections [8][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current dynamic macroeconomic conditions and highlighted the potential for lower financing costs as inflation approaches the Fed's target [15][40] - The geopolitical landscape is viewed as a significant factor affecting economic conditions, with rising nationalism and protectionism contributing to increased volatility [16][35] Other Important Information - The company reduced its general and administrative expenses by actively managing costs [32] - The loss of board member Dave Stevens was acknowledged, highlighting his contributions to the company [17][26] Q&A Session All Questions and Answers Question: Update on rate positioning and view on up-rate vs down-rate risk - Management indicated that they are positioned to benefit from a steepening yield curve and expect lower financing costs to positively impact returns [39][40] Question: Attractiveness of agency market and capital raising - Management confirmed that they see a historic opportunity in the agency market and are open to raising additional capital to take advantage of it [44][46] Question: Hedging strategy with rotation into pools - Management stated that the capital cost of using interest rate swaps is high, and their macro view drives the selection of hedges [48] Question: Benefit of rates going down to spread - Management explained that a decline in financing costs would improve total economic return, with specific figures provided for expected improvements [49][56] Question: Liquidity in funding market for longer-dated repo - Management confirmed that availability of financing is not an issue and they continue to have counterparties offering financing [88][95]

1 Safe Harbor Statement This presentation contains certain statements that are not historical facts and that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this presentation addressing expectations, assumptions, beliefs, projections, estimates, future plans, strategies, and events, developments that we expect or anticipate will occur in the future, and future operating results or financial condition are forward-looking statem ...